Common use of Distributor’s Right to Terminate Clause in Contracts

Distributor’s Right to Terminate. Distributor may terminate this Agreement by providing written notice to Subdistributor: at any time for its convenience upon thirty (30) days prior written notice; if Subdistributor materially breaches any provision of this Agreement and fails to render a cure within fifteen days of receipt of written notice of breach; immediately in the event Subdistributor breaches Section 2.4 (Prohibited Acts) of this Agreement; if Subdistributor becomes insolvent or files, or has filed against it, a petition for voluntary or involuntary bankruptcy or pursuant to any other insolvency Law, makes or seeks to make a general assignment for the benefit of its creditors or applies for, or consents to, the appointment of a trustee, receiver, or custodian for a substantial part of its property, or is generally unable to pay its debts as they become due; or if Subdistributor sells, transfers or disposes of all or substantially all of its assets, or merges or consolidates with any other entity.