Common use of Immediate Termination Clause in Contracts

Immediate Termination. A party has the right to immediately terminate this agreement by notice in writing to the other party upon the occurrence of any of the following events: (a) the other party assigns or attempts to assign this agreement in breach of clause 16; (b) the other party ceases to carry on business; or (c) if the other party: (i) goes into liquidation otherwise than for the purpose of reconstruction or a meeting was called for the purpose of considering liquidation; (ii) has a receiver or a receiver and manager appointed over any of its property; (iii) proposes or enters into any scheme of arrangement or a composition with its creditor; or (iv) has an official manager, receiver, inspector, administrator or controller appointed pursuant to the provisions of the Corporations Xxx 0000 (Cth).

Immediate Termination. A party has the right to immediately terminate this agreement by notice in writing to the other party upon the occurrence of any of the following events: (a) the other party assigns or attempts to assign this agreement in breach of clause 16;of (b) the other party ceases to carry on business; or (c) if the other party: (i) goes into liquidation otherwise than for the purpose of reconstruction or a meeting was called for the purpose of considering liquidation; (ii) has a receiver or a receiver and manager appointed over any of its property; (iii) proposes or enters into any scheme of arrangement or a composition with its creditor; or (iv) has an official manager, receiver, inspector, administrator or controller appointed pursuant to the provisions of the Corporations Xxx 0000 (Cth).

Immediate Termination. A party has the right to immediately terminate this agreement by notice in writing to the other party upon the occurrence of any of the following events: (a) the other party assigns or attempts to assign this agreement in breach of clause 16; (b) the other party ceases to carry on business; or (c) if the other party: (i) goes into liquidation otherwise than for the purpose of reconstruction or a meeting was called for the purpose of considering liquidation; (ii) has a receiver or a receiver and manager appointed over any of its property; (iii) proposes or enters into any scheme of arrangement or a composition with its creditor; or (iv) has an official manager, receiver, inspector, administrator or controller appointed pursuant to the provisions of the Corporations Xxx 0000 Act 2001 (Cth).

Immediate Termination. A party has the right to immediately terminate this agreement by notice in writing to the other party upon the occurrence of any of the following events: (a) the other party assigns or attempts to assign this agreement in breach of clause 16;of (b) the other party ceases to carry on business; or (c) if the other party: (i) goes into liquidation otherwise than for the purpose of reconstruction or a meeting was called for the purpose of considering liquidation; (ii) has a receiver or a receiver and manager appointed over any of its property; (iii) proposes or enters into any scheme of arrangement or a composition with its creditor; or (iv) has an official manager, receiver, inspector, administrator or controller appointed pursuant to the provisions of the Corporations Xxx 0000 Act 2001 (Cth).