Common use of Inability to Pay Clause in Contracts

Inability to Pay. Insolvency of the Supplier Should the Supplier cease to make payments, or if an interim insolvency administrator is appointed or if insolvency proceedings are commenced in relation to the assets of the Supplier, the Purchaser may terminate the order and/or any purchase orders issued thereunder. In the event of termination, the Purchaser may continue to utilize existing facilities, deliveries or services already performed by the Supplier in exchange for reasonable payment.

Inability to Pay. Insolvency of the Supplier Should the Supplier cease to make payments, or if an interim insolvency insol- vency administrator is appointed or if insolvency proceedings are ap- plied for or commenced in relation to the assets of the Supplier, the Purchaser Customer may terminate the order contract and/or any purchase orders issued is- sued thereunder. In the event of termination, termination the Purchaser Customer may continue con- tinue to utilize existing facilities, deliveries or services already performed per- formed by the Supplier in exchange for reasonable payment.

Inability to Pay. Insolvency of the Supplier Should the Supplier cease to make payments, or if an interim insolvency administrator is appointed or if insolvency proceedings are applied for or commenced in relation to the assets of the Supplier, the Purchaser Customer may terminate the order contract and/or any purchase orders issued thereunder. In the event of termination, termination the Purchaser Customer may continue to utilize existing facilities, deliveries or services already performed by the Supplier in exchange for reasonable payment.

Inability to Pay. Insolvency of the Supplier Should the Supplier cease to make payments, or if an interim insolvency administrator is appointed or if insolvency proceedings are commenced in relation to the assets of the Supplier, the Purchaser may terminate the order and/or any purchase orders issued thereunderthere under. In the event of termination, the Purchaser may continue to utilize existing facilities, deliveries or services already performed by the Supplier in exchange for reasonable payment.