Common use of Insolvency, Etc Clause in Contracts

Insolvency, 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 passingany resolution or making of any order for winding up, whether voluntary or otherwise, or in the eventof 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.

Insolvency, 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 passingany passing any resolution or making of any order for winding up, whether voluntary or otherwise, or in the eventof event of the firm failing to comply with any of the conditions herein specified AIIMS, Jodhpur HIMSR shall have the power to terminate the contract without any prior notice.