Common use of Insolvency Filing Clause in Contracts

Insolvency Filing. Notwithstanding anything to the contrary herein, in the Agreement or in the Definitions, upon any Insolvency Filing (which, for purposes of this provision, shall include an Event of Default of the type described in Section 5(a)(vii) of the Agreement in respect of the Issuer), the Transaction shall automatically terminate on the date thereof without further liability of either party to this Confirmation to the other party (except for any liability in respect of any breach of representation or covenant by a party under this Confirmation prior to the date of such Insolvency Filing).

Insolvency Filing. Notwithstanding anything to the contrary herein, in the Agreement Agreement, in the 2006 Definitions or in the 2002 Definitions, upon any Insolvency Filing (which, for purposes of this provision, shall include an Event of Default of the type described in Section 5(a)(vii) of the Agreement in respect of the Issuer), the Transaction shall automatically terminate on the date thereof without further liability of either party to this Confirmation to the other party (except for any liability in respect of any breach of representation or covenant by a party under this Confirmation prior to the date of such Insolvency Filing).

Insolvency Filing. Notwithstanding anything to the contrary herein, in the Agreement or in the Definitions, upon any Insolvency Filing (which, for purposes of this provision, shall include an Event of Default of the type described in Section 5(a)(vii) of the Agreement in respect of the Issuer), the Transaction shall automatically terminate on the date thereof without further liability of either party to this Confirmation to the other party (except for any liability in respect of any breach of representation or covenant by a party under this Confirmation prior to the date of such Insolvency Filing). 4 To be confirmed/provided by Issuer prior to execution of a trade.