Common use of Immediate Termination for Other Reasons Clause in Contracts

Immediate Termination for Other Reasons. The Agreement may be terminated without any rectification period should the other party (a) close or suspend its business, (b) be sub- jected to proceedings of bankruptcy or insolvency, (c) become insol- vent or unable to honour its financial obligations or (d) be placed under receivership. On such termination, the Customer will be cut off from further delivery including support. However, the Customer’s right to use all fully paid Subscriptions until the expiration of their respective Subscription Peri- ods remains intact. The Agreement can be resurrected with all rights and obligations as soon as the receiver or the trustee formally recog- nises the effectiveness of the Agreement even in the state of insolvency or trusteeship and all invoices outstanding are paid. On expiration of the last Subscription or on closing of the business, whichever comes first, the Customer will immediately return to the Vendor by registered mail or comparable service all articles that are required to be kept under lock and key (cf. clause 5.2.2). The Customer number and all access codes to resources of the Vendor become inoperable on termination. Any continued technical availabil- ity does not imply the right to use.

Immediate Termination for Other Reasons. The Agreement may be terminated without any rectification period should the other party (a) close or suspend its business, (b) be sub- jected subjected to proceedings of bankruptcy or insolvency, (c) become insol- vent insolvent or unable una- ble to honour honor its financial obligations or (d) be placed under receivership. On such termination, the Customer will be cut off from further delivery including support. However, the Customer’s right to use all fully paid Subscriptions Sub- scriptions until the expiration of their respective Subscription Peri- ods remains Periods re- mains intact. The Agreement can be resurrected with all rights and obligations obli- gations as soon as the receiver or the trustee formally recog- nises recognizes the effectiveness ef- fectiveness of the Agreement even in the state of insolvency or trusteeship trustee- ship and all invoices outstanding are paid. On expiration of the last Subscription or on closing of the business, whichever which- ever comes first, the Customer will immediately return to the Vendor by registered mail or comparable service all articles that are required to be kept under lock and key (cf. clause 5.2.2). The Customer number and all access codes to resources of the Vendor become inoperable on termination. Any continued technical availabil- ity availability does not imply the right to use.

Immediate Termination for Other Reasons. The Agreement MSSA may be terminated without any rectification period should the other party (a) close or suspend its business, (b) be sub- jected subjected to proceedings of bankruptcy or insolvency, (c) become insol- vent insolvent or unable una- ble to honour honor its financial obligations or (d) be placed under receivershipreceiver- ship. On such termination, the Customer will be cut off from further delivery including support. However, the Customer’s right to use all fully paid Subscriptions subscriptions until the expiration of their respective Subscription Peri- ods remains intact. The Agreement MSSA can be resurrected with all rights and obligations as soon as the receiver or the trustee formally recog- nises recognizes the effectiveness of the Agreement MSSA even in the state of insolvency or trusteeship trus- teeship and all invoices outstanding are paid. On expiration of the last Subscription subscription or on closing of the business, whichever comes first, the Customer will immediately return to the Vendor Meet- ingSphere by registered mail or comparable service all articles that are required to be kept under lock and key (cf. clause 5.2.2). The Customer number and all access codes to resources of the Vendor Meeting- Sphere become inoperable on termination. Any continued technical availabil- ity availability does not imply the right to use.