Default Events. Either party may on written notice to the other party terminate the Agreement, if the other party: (a) has materially breached any of its obligations or breaches a material obligation under the Agreement, where either the breach is not capable of being rectified or has not been rectified within 20 Working Days of the first party giving written notice specifying that it has the right to terminate under this clause if the breach is not rectified; (b) has purported to assign its rights or obligations otherwise than in accordance with clause 17 (Assignment and subcontracting); (c) goes into liquidation or has a receiver, administrator, statutory manager or similar officer appointed in respect of it (other than for the purpose of a solvent amalgamation or reconstruction); (d) is or is deemed to be unable to pay its debts as they become due, or proposes or enters into any arrangement, compromise or composition with its creditors; or (e) is subject to an event of Force Majeure that materially affects its performance of the Agreement and continues for more than 20 Working Days.
Appears in 7 contracts
Samples: Purchase Agreement, Purchase Agreement, Purchase Agreement
