Insolvency Event or Direction by Customer under The Main Contract Sample Clauses

Insolvency Event or Direction by Customer under The Main Contract. If an Insolvency Event occurs with respect to the Subcontractor, or if Honeywell is directed by the Customer under the Main Contract to remove the Subcontractor from the Site as a result of some act or omission of the Subcontractor, Honeywell may by written notice to the Subcontractor: 1) terminate the Subcontractor or 2) take over the whole or part of the Works. An ”Insolvency Event" occurs when 1) a Party is, or informs the other Party in writing or creditors generally that the Party is, insolvent or financially unable to proceed with this Subcontract; 2) execution is levied against a Party by a creditor; 3) in relation to a corporation: (i) presumed by a court to be insolvent under relevant legislation; (ii) notice is given of a meeting of creditors with a view to the corporation entering a deed of company arrangement; (iii) a Party stops or suspends payment to creditors generally or enters into an arrangement, assignment or composition with or for the benefit of its creditors generally or any class of them or proposes to do so; (iv) an administrator, receiver, receiver and manager, controller, managing controller, trustee, provisional liquidator or liquidator is appointed to a Party or any of its assets or business or any step is taken to do so or any Party requests such appointment; (v) an application is made, a resolution is passed, or an order is made for the winding-up of the Party, including an application relating to dissolution, liquidation, provisional liquidation or bankruptcy; (vi) a charge of any property of the Party takes possession of that property; (vii) the corporation resolves by special resolution that the Party be wound up voluntarily (other than for a members’ voluntary winding-up); or
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Insolvency Event or Direction by Customer under The Main Contract. If an Insolvency Event occurs with respect to the Subcontractor, or if Honeywell is directed by the Customer under the Main Contract to remove the Subcontractor from the Site as a result of some act or omission of the Subcontractor, Honeywell may by written notice to the Subcontractor:
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Related to Insolvency Event or Direction by Customer under The Main Contract

  • Termination for Default 7.2.1 County may terminate the whole or any part of this Agreement for cause in the following circumstances:

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon, and the obligation of the party giving such notice, so far as it is affected by such Force Majeure, shall be suspended during the continuance of the inability then claimed, except as hereinafter provided, but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. Choice of Law The Agreement between the Vendor and TIPS/ESC Region 8 and any addenda or other additions resulting from this procurement process, however described, shall be governed by, construed and enforced in accordance with the laws of the State of Texas, regardless of any conflict of laws principles. Venue, Jurisdiction and Service of Process Any Proceeding arising out of or relating to this procurement process or any contract issued by TIPS resulting from or any contemplated transaction shall be brought in a court of competent jurisdiction in Camp County, Texas and each of the parties irrevocably submits to the exclusive jurisdiction of said court in any such proceeding, waives any objection it may now or hereafter have to venue or to convenience of forum, agrees that all claims in respect of the Proceeding shall be heard and determined only in any such court, and agrees not to bring any proceeding arising out of or relating to this procurement process or any contract resulting from or any contemplated transaction in any other court. The parties agree that either or both of them may file a copy of this paragraph with any court as written evidence of the knowing, voluntary and freely bargained for agreement between the parties irrevocably to waive any objections to venue or to convenience of forum. Process in any Proceeding referred to in the first sentence of this Section may be served on any party anywhere in the world. Venue for any dispute resolution process, other than litigation, between TIPS and the Vendor shall be located in Camp or Xxxxx County, Texas.

  • Termination of Agreement If this Agreement is terminated by the Representatives in accordance with the provisions of Section 5 or Section 9(a)(i) hereof, the Company shall reimburse the Underwriters for all of their out-of-pocket expenses, including the reasonable fees and disbursements of counsel for the Underwriters.

  • Events of Default If any of the following events (“Events of Default”) shall occur:

  • Termination for Cause If Vendor fails to materially perform pursuant to the terms of this Agreement, TIPS shall provide written notice to Vendor specifying the default. If Vendor does not cure such default within thirty (30) days, TIPS may terminate this Agreement, in whole or in part, for cause. If TIPS terminates this Agreement for cause, and it is later determined that the termination for cause was wrongful, the termination shall automatically be converted to and treated as a termination for convenience.

  • Effect of Termination Upon any expiration of the Term or termination of this Agreement, the obligations and rights of the parties hereto shall cease, provided that such expiration or termination of this Agreement shall not relieve the parties of any obligation or breach of this Agreement accruing prior to such expiration or termination, including, without limitation, all accrued payment obligations arising under Article 6. In addition, Article 5, Article 7, Section 2.12, Section 4.5, and this Section 4.6 shall survive the expiration or termination of this Agreement. For the avoidance of doubt, the rights of Registry Operator to operate the registry for the TLD shall immediately cease upon any expiration of the Term or termination of this Agreement.

  • RIGHT TO TERMINATE Either Party may unilaterally terminate this Annex by providing thirty (30) calendar days written notice to the other Party.

  • Termination without Cause The Company may terminate Executive’s employment without Cause.

  • Termination This Agreement may be terminated at any time prior to the Closing:

  • Default H-GAC may, by written notice of default to the Contractor, terminate the whole or any part of the Agreement, in any one of the following circumstances:

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