Common use of Insolvency, Bankruptcy, Etc Clause in Contracts

Insolvency, Bankruptcy, Etc. In the event of the firm being adjudged insolvent or having a receiver appointed for it by a court or any other order under the Insolvency Act made against them or in the case of a company the passing any resolution or making of any order for winding up, whether voluntary or otherwise, or in the event of the firm failing to comply with any of the conditions herein specified AIIMS, Jodhpur shall have the power to terminate the contract without any prior notice and any other action as per the government guidelines will be taken against the bidder.

Insolvency, Bankruptcy, Etc. In the event of the firm being adjudged insolvent or having a receiver appointed for it by a court or any other order under the Insolvency Act made against them or in the case of a company the passing any resolution or making of any order for winding up, whether voluntary or otherwise, or in the event of the firm failing to comply with any of the conditions herein specified specified, AIIMS, Jodhpur shall have the power to terminate the contract without any prior notice and any other action as per the government guidelines will be taken against the biddernotice.

Insolvency, Bankruptcy, Etc. In the event of the firm being adjudged insolvent or having a receiver appointed for it by a court or any other order under the Insolvency Act made against them or in the case of a company the company, passing any resolution or making of any order for winding up, whether voluntary or otherwise, or in the event of the firm failing to comply with any of the conditions herein specified herein, AIIMS, Jodhpur shall have the power to terminate the contract without any prior notice and any other action as per the government guidelines will be taken against the biddernotice.