Common use of Customer Insolvency Clause in Contracts

Customer Insolvency. If You become subject to any of the events listed below or Oxford Nanopore reasonably believes that You are about to become subject to any of them and notifies You accordingly, then without limiting any other right or remedy available to Oxford Nanopore, Oxford Nanopore may cancel or suspend any deliveries under this Contract without incurring any liability for so doing, and any outstanding amounts in respect of the Goods and the Software delivered to You will become immediately due. For the purposes of this Section 11, the relevant events are: Your insolvency; Your proposal of an individual, company or partnership voluntary arrangement; having a receiver, administrator or manager appointed over the whole or any part of Your business or assets; a petition presented, order made or resolution passed for Your winding up, bankruptcy or dissolution; if You should otherwise propose or enter into any composition or arrangement with Your creditors or any class of them; if You cease or threaten to cease to carry on business or if You claim the benefit of a statutory moratorium; or You suffer any event which is analogous to any of these events in any part of the world.