Dissolution or Insolvency Event. If a Party is dissolved under applicable corporate law or becomes subject to an Insolvency Event, the other Party may terminate this Agreement by delivering written notice of its decision to do so within six (6) months after actual knowledge of the dissolution or the Insolvency Event.
Dissolution or Insolvency Event. If a Dissolution or Insolvency Event occurs prior to a Relevant Event, the Company, the Founders, and the Significant [Quotaholders/Shareholders], each within their respective capacities, agree to allocate the Proceeds, if available, as follows: first, to satisfy the claims of the Company’s creditors; second, to reimburse the Investor an amount equal to the greater of (i) the Future Equity Amount and (ii) the amount the Investor would have received had he held the Investor [Quota/Shares], assuming an issuance based on the criteria applicable upon the expiration of the Longstop Date. If the Investor competes with other holders of SAFEs or equivalent semi-equity financial instruments, any remaining Proceeds shall be allocated on a pari passu basis among all such holders; and finally, any remaining Proceeds shall be distributed among the [quotaholders/shareholders] of the Company.
Dissolution or Insolvency Event. Either Party may terminate this Agreement effective immediately upon delivery of a Termination Notice if the other Party (i) is dissolved under applicable corporate law and there is no successor to such Party’s business or assets relating to this Agreement, or (ii) becomes subject to an Insolvency Event.
Dissolution or Insolvency Event. Either Party may terminate this Agreement effective immediately upon delivery of a Termination Notice if the other Party is (A) dissolved or is seeking to dissolve itself under applicable corporate law other than as part of a corporate restructuring under which its assets were first transferred to an assignee under this Agreement in accordance with Section 10.2; or (B) (i) becomes subject to an Insolvency Event, provided that, no termination right shall exist in respect of an Insolvency Event that is a chapter 11 case under the Bankruptcy Code if the Party subject to such chapter 11 case (x) continues to perform all of its material obligations under this Agreement, (y) does not seek to reject this Agreement or take any action in such chapter 11 case to disavow or undermine the rights of the other Party under this Agreement, and (z) assumes this Agreement on or before any deadline in such chapter 11 case for such assumption; notwithstanding the foregoing, nothing herein shall limit or prevent the Party not subject to an Insolvency Event from objecting to assumption or assumption and assignment of this Agreement or requiring cure payments or adequate assurance of future performance as a condition of assumption or assumption and assignment.
