INSOLVENCY OF BUYER. If:(i) Buyer becomes insolvent, has a receiver, administrative receiver, administrator or manager appointed of the whole or any part of its assets or business, makes any composition or arrangement with its creditors, takes or suffers any similar action in consequence of debt or an order or resolution is made for its dissolution or liquidation (other than for the purpose of solvent amalgamation or reconstruction) or carries out or undergoes any analogous act or proceedings under an applicable foreign law; or (ii) Buyer ceases, or threatens to cease to carry on business then, without prejudice to any other right or remedy available to Supplier, Supplier may treat any Contract as repudiated and/or withhold any further supply of Products and/or Services without any liability to Buyer and, if any Products and/or Services have been supplied but not paid for, the price or fees shall become immediately due and payable notwithstanding any previous agreement or arrangement to the contrary.
INSOLVENCY OF BUYER. 9.1 This clause 9 applies if:
9.1.1 the Buyer makes a voluntary arrangement with its creditors or (being an individual or firm) becomes bankrupt or (being a company) becomes subject to an administration order or goes into liquidation (otherwise than for the purposes of amalgamation or reconstruction); or
9.1.2 an encumbrancer takes possession, or a receiver is appointed, of any of the property or assets of the Buyer; or
9.1.3 the Buyer ceases, or threatens to cease, to carry on business; or
9.1.4 the Seller reasonably apprehends that any of the events mentioned above is about to occur in relation to the Buyer and notifies the Buyer accordingly.
9.2 If this clause applies then, without limiting any other right or remedy available to the Seller, the Seller may cancel the Contract or suspend any further deliveries under the Contract without any liability to the Buyer, and if the Goods have been delivered but not paid for the price shall become immediately due and payable notwithstanding any previous agreement or arrangement to the contrary.
INSOLVENCY OF BUYER. If Buyer takes any action to make Seller believe Buyer may become bankrupt or insolvent, ceases business, or to pay bills during the term of this Contract, Seller may forthwith terminate this Contract upon written notice thereof to Buyer. Such termination shall not prejudice Seller's rights to any amounts then due under this Contract or effect any other rights Seller may have under applicable provisions of controlling law.
INSOLVENCY OF BUYER. 14.1 This clause applies if:
14.1.1 the Buyer makes any voluntary arrangement with its creditors or becomes subject to administration or is in examination or (being an individual or firm) becomes bankrupt or (being a body corporate) goes into liquidation (otherwise than for the purposes of amalgamation or reconstruction);
14.1.2 any action is taken by any person to appoint a receiver, administrator, administrative receiver, examiner, trustee, or similar officer of the Buyer or any of the
14.1.3 property or assets of the Buyer or any such receiver, administrator, administrative receiver, examiner, trustee, or similar officer is appointed (or notice of intention to so appoint is given) over the Buyer;
14.1.4 the Buyer ceases, or threatens to cease, to carry on business;
14.1.5 the Seller reasonably apprehends that any of the events mentioned above is about to occur in relation to the Buyer and notifies the Buyer accordingly; or
14.1.6 anything analogous to any of the foregoing occurs in any applicable jurisdiction.
14.2 If clause 14.1 applies then the Seller shall, without prejudice to any other rights of the Seller, be entitled to terminate the Contract with immediate effect and/or suspend any further deliveries under the Contract without any liability to the Buyer, and if the Goods and/or Services have been delivered and/or performed but not paid for the price shall become immediately due and payable not withstanding any previous agreement or arrangement to the contrary.
14.3 In the event that the Seller exercises any rights it may have to stop the Goods in transit because of the Buyer's financial condition, the Seller may, at its option, resell such goods at public or private sale without notice to the Buyer and without affecting the Seller's rights to hold the Buyer liable for any loss or damage caused by breach of contract by the Buyer.
INSOLVENCY OF BUYER. 18.1 In the event that, prior to the Consideration Date, the Buyer becomes insolvent or unable to pay its debts as they fall due, or has any administrator, receiver or administrative receiver appointed in respect of any of its assets, or suffers an analogous event in any jurisdiction, then the Sellers shall have the right to repurchase the Software for the sum of US$1.
18.2 In the event that the Buyer disposes of the Software to a transferee which is not a member of the Buyer’s Group prior to the Consideration Date, then the Consideration Date shall be brought forward to the date of such disposal.
INSOLVENCY OF BUYER. 12.1 If the Buyer makes any voluntary arrangement with its creditors or (being an individual or firm) becomes bankrupt, or (being a company) becomes subject to an administration order or goes into liquidation (otherwise than for the purposes of a solvent amalgamation or reconstruction), or an encumbrancer takes possession, or a receiver is appointed of any of the property or assets of the Buyer, or the Buyer ceases or threatens to cease to carry on business or Carlsberg reasonably apprehends that any of the events mentioned in this condition is about to occur (and notifies the Buyer accordingly) then, without affecting any of Carlsberg’s other rights or remedies, Carlsberg is entitled to cancel the Contract or suspend any further deliveries without incurring any liability.
INSOLVENCY OF BUYER. 12.1 The Company may by written notice to the Purchaser, terminate this Contract with immediate effect if:
(a) the Purchaser is in material or persistent breach of any of its obligations under this Contract and fails to remedy the breach, if capable of remedy, within thirty (30) days of the date of a written notice by the Company specifying the breach and requiring the same to be remedied;
(b) a resolution is passed, a petition is presented or an order is made for the winding up of the Purchaser, otherwise than for the purpose of solvent amalgamation or reconstruction where the resulting entity assumes all of the obligations under this Contract of the Purchaser, or an administrator, receiver or administrative received is appointed over all or part of the Purchaser’s undertaking and assets;
(c) the Purchaser ceases or threatens to cease to carry on its business or is unable to pay its debts or becomes insolvent, within the meaning of section 123 Insolvency Act 1986, or makes or proposes to make any arrangement or composition with its creditors; or
(d) the Purchaser, being an individual, is the subject of a bankruptcy order, dies or, by reason of illness or incapacity, whether mental or physical, is incapable of managing his or her own affairs or becomes a patient under any mental health legislation.
12.2 If clause 12 applies then, without limiting any other right or remedy available to the Company, the Company may cancel the Contract or suspend any further deliveries or Works under the Contract without any liability to the Purchaser, and if the Goods has been delivered but not paid for the price shall become immediately due and payable not- withstanding any previous agreement or arrangement to the contrary.
INSOLVENCY OF BUYER. If Buyer shall be deemed or adjudged to be insolvent, or if a receiver shall be appointed to take possession of all or substantially all of Buyer's property, or if a voluntary or involuntary bankruptcy proceeding shall be filed, or if Buyer shall make a general assignment for the benefit of creditors, then Buyer shall be deemed to be in default under the terms of this Agreement and Seller shall be entitled to terminate this Agreement and immediately re- enter and regain possession of the Property, or to exercise any other right or remedy available to Seller under this Agreement, at law or in equity, to the extent permitted by Applicable Law.
INSOLVENCY OF BUYER. If the Buyer:
INSOLVENCY OF BUYER. The Supplier may – without prejudice to any other rights or remedies available to the Supplier – treat any Contract as repudiated and/or withhold any further supply of Products and/or Services without any liability to Buyer in any of the following circumstances: (a) if insolvency, impending insolvency or illiquidity – or a comparable situation under applicable foreign law – exists in the Buyer; (b) if a insolvency procurator or insolvency administrator – or a comparable person under applicable foreign law – is appointed over the assets of the Buyer; (c) if a resolution is made for its dissolution or liquidation of the Buyer (other than for the purpose of solvent amalgamation or reconstruction); or
