Effect of Bankruptcy or Agreement Sample Clauses

Effect of Bankruptcy or Agreement. Revision Abboxx xxx terminate this Agreement upon the filing of a voluntary petition in bankruptcy by RiboGene or a third party's filing of an involuntary petition in bankruptcy with respect to RiboGene, which involuntary petition is not dismissed within forty-five (45) days after the filing thereof, or if removal of a material part or parts of this Agreement which are found to be void, invalid or unenforceable according to the provisions of Section 10.9 would so substantially impair the value of the whole Agreement to Abboxx xx to make continuance Impractical. If at any time during the anticipated term or any extended term of this Agreement RiboGene files for bankruptcy or an involuntary petition with respect to RiboGene is not dismissed, and providing Abboxx xxxll have paid to RiboGene or trustee(s) therefor at least one million U.S. dollars (USD1,000,000) anticipated under the provisions of Section 4.1 and all reasonable additional amounts, If any, that are owed to RiboGene for activities actually fulfilled under the provisions of an extension to this Agreement, provided for in Section 9.2, Abboxx xxxll receive sufficient representative amounts of all RiboGene Compound(s), whether originally independently owned by or licensed to RiboGene or subsequently owned, purchased or licensed by RiboGene during the Research Term, to complete or have completed the
Sample 1
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Effect of Bankruptcy or Agreement. Revision Abboxx xxx terminate this Agreement upon the filing of a voluntary petition in bankruptcy by RiboGene or a third party's filing of an involuntary petition in bankruptcy with respect to RiboGene, which involuntary petition is not dismissed within forty-five (45) days after the filing thereof, or if removal of a material part or parts of this Agreement which are found to be void, invalid or unenforceable according to the provisions of Section 10.9 would so substantially impair the value of the whole Agreement to Abboxx xx to make continuance Impractical. If at any time during the anticipated term or any extended term of this Agreement RiboGene files for bankruptcy or an involuntary petition with respect to RiboGene is not dismissed, and providing Abboxx xxxll have paid to RiboGene or trustee(s) therefor at least [*] anticipated under the provisions of Section 4.1 and all reasonable additional amounts, If any, that are owed to RiboGene for activities actually fulfilled under the provisions of an extension to this Agreement, provided for in Section 9.2, Abboxx xxxll receive sufficient representative amounts of all RiboGene Compound(s), whether originally independently owned by or licensed to RiboGene or subsequently owned, purchased or licensed by RiboGene during the Research Term, to complete or have completed the -34- ---------------------------- * Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 35 anticipated Provisions and/or possibilities of this Agreement and shall thereafter have a fully paid-up, nonterminable, nonexclusive license from RiboGene and/or its trustee(s) to screen and/or otherwise use RiboGene Compounds and RiboGene Intellectual Property to complete the anticipated provisions and/or possibilities of the Research Program. At Abbot's option, Abboxx xxxll have the right under RiboGene Intellectual Property to make, have made, import, develop, use, and otherwise evaluate Abboxx Xxxpounds and/or RiboGene Compounds, and, with RiboGene's trustee(s) acting in RiboGene's stead, the right to obtain an exclusive license to make, have made, import, use, offer for sale and sell RiboGene Compounds and/or Products for consideration (i) equal to [*] of that anticipated in the License Agreement, in the event that RiboGene files for bankruptcy, or an involuntary petition with respect to RiboGene is not dismissed within forty-fi...
Sample 1

Related to Effect of Bankruptcy or Agreement

  • Effect of Bankruptcy In the event that, pursuant to any insolvency, bankruptcy, reorganization, receivership or other debtor relief law, or any judgment, order or decision thereunder, Lender must rescind or restore any payment, or any part thereof, received by Lender in satisfaction of the Guaranteed Obligations, as set forth herein, any prior release or discharge from the terms of this Guaranty given to Guarantor by Lender shall be without effect, and this Guaranty shall remain in full force and effect. It is the intention of Borrower and Guarantor that Guarantor’s obligations hereunder shall not be discharged except by Guarantor’s performance of such obligations and then only to the extent of such performance.

  • LIMITATION ON INSTITUTION OF BANKRUPTCY PROCEEDINGS BNY shall not institute against or cause any other person to institute against, or join any other person in instituting against the Counterparty, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, under any of the laws of the United States or any other jurisdiction, for a period of one year and one day (or, if longer, the applicable preference period) following indefeasible payment in full of the Certificates. This provision shall survive the expiration of this Agreement.

  • Event of Bankruptcy In addition to, and in no way limiting the other remedies set forth herein, Landlord and Tenant agree that if Tenant ever becomes the subject of a voluntary or involuntary bankruptcy, reorganization, composition, or other similar type proceeding under the federal bankruptcy laws, as now enacted or hereinafter amended, then: (a) “adequate assurance of future performance” by Tenant pursuant to Bankruptcy Code Section 365 will include (but not be limited to) payment of an additional/new security deposit in the amount of three times the then current Base Rent payable hereunder; (b) any person or entity to which this Lease is assigned, pursuant to the provisions of the Bankruptcy Code, shall be deemed, without further act or deed, to have assumed all of the obligations of Tenant arising under this Lease on and after the effective date of such assignment, and any such assignee shall, upon demand by Landlord, execute and deliver to Landlord an instrument confirming such assumption of liability; (c) notwithstanding anything in this Lease to the contrary, all amounts payable by Tenant to or on behalf of Landlord under this Lease, whether or not expressly denominated as “Rent”, shall constitute “rent” for the purposes of Section 502(b)(6) of the Bankruptcy Code; and (d) if this Lease is assigned to any person or entity pursuant to the provisions of the Bankruptcy Code, any and all monies or other considerations payable or otherwise to be delivered to Landlord or Agent (including Base Rent, Additional Rent and other amounts hereunder), shall be and remain the exclusive property of Landlord and shall not constitute property of Tenant or of the bankruptcy estate of Tenant. Any and all monies or other considerations constituting Landlord’s property under the preceding sentence not paid or delivered to Landlord or Agent shall be held in trust by Tenant or Tenant’s bankruptcy estate for the benefit of Landlord and shall be promptly paid to or turned over to Landlord.

  • Effect of Bankruptcy, Withdrawal, Death or Dissolution of a General Partner (a) Upon the occurrence of an Event of Bankruptcy as to a General Partner (and its removal pursuant to Section 7.4(a) hereof) or the death, withdrawal, removal or dissolution of a General Partner (except that, if a General Partner is on the date of such occurrence a partnership, the withdrawal, death, dissolution, Event of Bankruptcy as to, or removal of a partner in, such partnership shall be deemed not to be a dissolution of such General Partner if the business of such General Partner is continued by the remaining partner or partners), the Partnership shall be dissolved and terminated unless the Partnership is continued pursuant to Section 7.3(b) hereof. The merger of the General Partner with or into any entity that is admitted as a substitute or successor General Partner pursuant to Section 7.2 hereof shall not be deemed to be the withdrawal, dissolution or removal of the General Partner.

  • Effect of Bankruptcy, Death, Incompetence or Termination of a Limited Partner The occurrence of an Event of Bankruptcy as to a Limited Partner, the death of a Limited Partner or a final adjudication that a Limited Partner is incompetent (which term shall include, but not be limited to, insanity) shall not cause the termination or dissolution of the Partnership, and the business of the Partnership shall continue if an order for relief in a bankruptcy proceeding is entered against a Limited Partner, the trustee or receiver of his estate or, if he dies, his executor, administrator or trustee, or, if he is finally adjudicated incompetent, his committee, guardian or conservator, shall have the rights of such Limited Partner for the purpose of settling or managing his estate property and such power as the bankrupt, deceased or incompetent Limited Partner possessed to assign all or any part of his Partnership Interest and to join with the assignee in satisfying conditions precedent to the admission of the assignee as a Substitute Limited Partner.

  • Effect of Consent (a) After an amendment, supplement or waiver becomes effective, it will bind every Holder unless it is of the type requiring the consent of each Holder affected. If the amendment, supplement or waiver is of the type requiring the consent of each Holder affected, the amendment, supplement or waiver will bind each Holder that has consented to it and every subsequent Holder of a Note that evidences the same debt as the Note of the consenting Holder.

  • Effect of Agreement Nothing herein contained shall be deemed to require to the Trust to take any action contrary to its Declaration of Trust or its By-Laws or any applicable law, regulation or order to which it is subject or by which it is bound, or to relieve or deprive the Trustees of the Trust of their responsibility for and control of the conduct of the business and affairs of the Trust.

  • Certain Agreements with Respect to Bankruptcy or Insolvency Proceedings (a) This Agreement shall continue in full force and effect notwithstanding the commencement of any proceeding under the Bankruptcy Code or any other Federal, state or foreign bankruptcy, insolvency, receivership or similar law by or against any Grantor or any of its subsidiaries.

  • Action if Bankruptcy If any Event of Default described in clauses (i) through (iv) of Section 9.1(h) with respect to the Borrower shall occur, the Commitments (if not theretofore terminated) shall automatically terminate and the outstanding principal amount of the Loans and all other Obligations shall automatically be and become immediately due and payable, without notice or demand to any Person.

  • Continuing Effect of Agreement Any provision of this Agreement which is capable of being performed after Completion but which has not been performed at or before Completion shall remain in full force and effect notwithstanding Completion.

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