Customer Bankruptcy. If the Equipment cannot be made legally available due to a Customer’s Event of Bankruptcy, and a court of competent jurisdiction determines that the value of the System is less than the value determined by Buyer, or the net present value of the payments approved by such court may be less than the Net Book Value (determined as of the date of default) of such defaulted Transaction, Buyer shall notify Omnicell of any relevant court proceeding of which Buyer receives notice at which the value of the System may be discussed, and may appear at such proceeding and submit evidence relating to the value of the System. Notwithstanding anything in this Agreement to the contrary, Omnicell shall not be required to repurchase any Assigned Rental Payments or Assigned Service Payments under any Transaction, which Assigned Rental Payments or Assigned Service Payments Buyer is unable to collect due to the insolvency, bankruptcy, or financial inability to pay of any Customer.
Customer Bankruptcy. 9.5.1 If the Customer becomes insolvent, files for or becomes subject to bankruptcy or a similar proceeding in state or federal court, the Customer will notify the Custodian in writing as soon as possible. The notification will include confirmation of the individual(s) who will direct the Custodian. If, within sixty (60) days of such filing the Customer does not notify the Custodian, the Custodian may invoke the provisions of Section 9.5.3.
9.5.2 In the case of bankruptcy, insolvency, or dissolution of the Customer, the Custodian will have the right to petition a court of competent jurisdiction to appoint a new Custodian, the costs of such action being payable from the Custodial Account.
9.5.3 In the case of dissolution of the Customer, or at any other time that the Customer does not respond to requests from the Custodian for confirmation of the individuals who will provide direction to the Custodian, the Custodian may, in its sole discretion, assume the Qualified Plan has been terminated and distribute assets according to applicable law, or in its discretion, transfer, distribute and assign all assets to the Trustee, or otherwise follow the orphan plan process established by the Department of Labor. Before the Custodian may make such assumption, however, the
9.5.4 If the Custodian receives notice of the Customer’s bankruptcy, insolvency or dissolution (either by the Customer or a court of competent jurisdiction), or if the Qualified Plan has been deemed abandoned as described in Section 9.5.3, above, any fees and other expenses relating to the provision of services under this Custodial Agreement (whether current or overdue) may be immediately deducted from the Custodial Account.
Customer Bankruptcy. It is understood by the parties that the Customer(s) are debtors-in-possession in cases filed on October 28, 1999 under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court").
Customer Bankruptcy. In the event of bankruptcy or insolvency of Customer, either voluntarily or in the case of a receiver appointed for the benefit of creditors, Seller may elect to terminate any outstanding Purchase Order without any further obligation or liability of Seller. In the event of termination, Seller shall, after taking into account payments made by Customer to Seller, be entitled to be paid by Customer for all outstanding Invoices and other expenditure made under these Terms, and any direct and indirect loss suffered by Seller including without limitation Seller’s loss of profit on such Purchase Order and the legal costs of Seller, including reasonable attorney’s fees (on a full indemnity basis) incurred in relation to the termination and any prior breach and in exercising any rights and remedies as a consequence of the termination and any prior breach. Termination of a Purchase Order shall be without prejudice to the rights of Seller accruing up to the date of termination.
Customer Bankruptcy. 13.1 Consultant may exercise right to invoice for services, suspend services until paid, cancel services and retain ownership of products
Customer Bankruptcy. Publisher agrees to share in any losses Readerlink may incur as a result of a bankruptcy filing or other insolvency proceeding by a Readerlink customer. Accordingly, Readerlink may deduct, from amounts otherwise due Publisher, an amount equal to the percentage of the customer’s receivable owed Readerlink, as of the date the bankruptcy case was filed or as of the measuring date for any other insolvency proceeding, based on Publisher’s market share of Readerlink’s sales to the customer during the 12 months preceding such date.
Customer Bankruptcy. The CUSTOMER irrevocably and unconditionally guarantees the payment of any obligations to BUMP NETWORKS related to or arising from this Agreement, upon
a. The dissolution, insolvency or business failure of, or any assignment for the benefit of creditors by, or commencement of any bankruptcy reorganization, arrangement, moratorium or other debtor relief proceedings by or against the CUSTOMER, or;
b. The appointment of a receiver for, or the attachment, restraint of or making or levying of any order of court or legal process affecting, the property of the CUSTOMER, and unconditionally promises to pay such obligations to BUMP NETWORKS on demand, in lawful money of the United States of America.
