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 subjected to proceedings of bankruptcy or insolvency, (c) become insolvent or una- ble to 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 Sub- scriptions until the expiration of their respective Subscription Periods re- mains intact. The Agreement can be resurrected with all rights and obli- gations as soon as the receiver or the trustee formally recognizes the ef- fectiveness of the Agreement even in the state of insolvency or trustee- ship and all invoices outstanding are paid. On expiration of the last Subscription or on closing of the business, 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 availability 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 subjected sub- jected to proceedings of bankruptcy or insolvency, (c) become insolvent insol- vent or una- ble unable to honor 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 Sub- scriptions Subscriptions until the expiration of their respective Subscription Periods re- mains Peri- ods remains intact. The Agreement can be resurrected with all rights and obli- gations obligations as soon as the receiver or the trustee formally recognizes recog- nises the ef- fectiveness effectiveness of the Agreement even in the state of insolvency or trustee- ship trusteeship and all invoices outstanding are paid. On expiration of the last Subscription or on closing of the business, which- ever 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 availability availabil- ity 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 subjected to proceedings of bankruptcy or insolvency, (c) become insolvent or una- ble to honor honour 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 Sub- scriptions subscriptions until the expiration of their respective Subscription Periods re- mains Peri- ods remains intact. The Agreement MSSA can be resurrected with all rights and obli- gations obligations as soon as the receiver or the trustee formally recognizes recognises the ef- fectiveness effectiveness of the Agreement MSSA even in the state of insolvency or trustee- ship trus- teeship and all invoices outstanding are paid. On expiration of the last Subscription subscription or on closing of the business, which- ever 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 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 subjected to proceedings of bankruptcy or insolvency, (c) become insolvent or una- ble to 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 Sub- scriptions subscriptions until the expiration of their respective Subscription Periods re- mains Peri- ods remains intact. The Agreement MSSA can be resurrected with all rights and obli- gations obligations as soon as the receiver or the trustee formally recognizes the ef- fectiveness effectiveness of the Agreement MSSA even in the state of insolvency or trustee- ship trus- teeship and all invoices outstanding are paid. On expiration of the last Subscription subscription or on closing of the business, which- ever 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 availability does not imply the right to use.