Insolvency of Customer. A material breach of these terms and conditions is deemed to occur if Customer becomes bankrupt or insolvent within the meaning of the Corporations Xxx 0000 (Cth), or enters any form or administration or receivership.
Insolvency of Customer. 11.1 If:
i. the Customer makes any voluntary arrangement with its creditors or becomes subject to an administration order or (being an individual or partnership) becomes bankrupt or is dissolved or (being a company) goes into liquidation; or
ii. an encumbrancer takes possession, or a trustee for receiver or administrative receiver is appointed, of the Customer or of or over any of its property or assets; or
iii. any judgment is obtained against the Customer or any distress or execution is levied on any premises or goods or other assets owned or occupied by the Customer; or
iv. the Customer ceases, or threatens to cease, to carry on business; or
v. the Company reasonably apprehends that any of the events mentioned above is about to occur in relation to the Customer and notifies the Customer accordingly then without prejudice to its other rights and remedies the Company shall be entitled to the remedies in clause 4.6i to vi (inclusive).
Insolvency of Customer. In the even that Buyer’s customer files or has filed against it a petition in bankruptcy or insolvency and in the course of such proceeding and in connection with an actual or threatened termination by customer of its purchase orders with Buyer, and if Buyer permits a reduction in the price paid to Buyer for goods sold to such customer to prevent a termination of a purchase order with customer, then Buyer has the right to proportionally adjust Seller’s price for Products or Services incorporated in the goods upon thirty (30) days written notice to Seller, Buyer may elect to have the provisions of this Section prevail over any conflicting term between Buyer and Seller.
Insolvency of Customer. In the event that:
9.1. the Customer makes any voluntary arrangement with its creditors, proposes to enter into a company voluntary arrangement, enters into administration, is unable to pay its debts as they fall due, makes application to a Court to suspend enforcement action against it, goes into liquidation (in the event that the Customer is a company) or becomes insolvent, enters into a trust deed or voluntary arrangement for the benefit of its creditors (in the event that the Customer is an individual or firm), or if the equivalent occurs under any jurisdiction; or
9.2. an encumbrancer takes possession of, or a receiver or administrative receiver is appointed over, any of the property or assets of the Customer; or
9.3. the Customer suspends any payments hereunder or ceases, or threatens to cease, to carry on business; or
9.4. the Company reasonably considers that any of the events mentioned above is about to occur in relation to the Customer and notifies the Customer accordingly; then without prejudice to any other rights or remedies available to the Company, the Company shall be entitled forthwith to cancel the Contract or suspend any further deliveries under the Contract without any liability to the Customer and if the Products have been delivered but not paid for, the price shall become immediately payable notwithstanding any previous agreement to the contrary.
Insolvency of Customer. 23.1 If the Customer becomes insolvent, the Customer remains liable under this Agreement for payment of all liabilities incurred hereunder. The Customer remains liable under this Agreement even if the Supplier receives a dividend or payment as a result of the Customer being insolvent.
Insolvency of Customer. 6.1 This clause applies if:
(a) the Customer makes any voluntary arrangement with its creditors or becomes subject to an administration order or (being an individual or firm) becomes bankrupt or (being a company) goes into liquidation (otherwise than for the purpose of amalgamation or reconstruction); or
(b) an encumbrancer takes possession, or a receiver is appointed, of any of the property or assets of the Customer; or
(c) the Customer ceases, or threatens to cease, to carry on business; or
(d) Bibby reasonably apprehends that any of the events mentioned above is about to occur in relation to the Customer and notifies the Customer accordingly.
6.2 If this clause applies then, without prejudice to any other right or remedy available to Bibby, Bibby shall be entitled to cancel the cancel the Customer/Bibby Purchase Order and/or the Agreement or suspend any further deliveries to the Customer, and if the Goods have been delivered but not paid for the Bibby Sale Price shall become immediately due and payable notwithstanding any previous agreement or arrangement to the contrary and if any of the Goods have not been delivered Bibby may sell the Goods at the best price readily obtainable and (after deducting all reasonable storage and selling expenses) account to the Customer for the excess over the Bibby Sale Price or charge the Customer for any shortfall below the Bibby Sale Price.
Insolvency of Customer. 14.1 If the Buyer fails to make payment for the goods and/or services in accordance with the Contract or commits any other breach of the Contract or if any distress or
i) Suspend all future deliveries of goods and/or services to the
ii) Exercise any of its rights pursuant to clause 6 hereof.
Insolvency of Customer. 11.1 This clause 11 applies if:
(a) the Customer 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 solvent amalgamation or reconstruction);
(b) an encumbrancer takes possession, or a receiver is appointed, of any of the property or assets of the Customer;
(c) the Customer ceases, or threatens to cease, to carry on business;
(d) the Customer is subject to any proceedings or circumstances which are equivalent or substantially similar to any of the foregoing under any applicable jurisdiction; or
(e) Fieldpiece reasonably apprehends that any of the events mentioned above is about to occur in relation to the Customer and notifies the Customer accordingly.
11.2 If this clause 11 applies then, without prejudice to any other right or remedy available to Fieldpiece, Fieldpiece shall be entitled to cancel the Contract or suspend any further deliveries under the Contract without any liability to the Customer and, if the Products have been delivered but not paid for, the Price (together with all associated invoiced amounts) shall become immediately due and payable, notwithstanding any previous agreement or arrangement to the contrary.
Insolvency of Customer. If Customer ceases or threatens to cease conducting business as a going concern, becomes insolvent or unable to pay its debts as they mature in the ordinary course, makes a general assignment for the benefit of creditors, suffers or permits the appointment of a receiver for its business or assets, or avails itself of or becomes subject to any proceeding under the bankruptcy laws or any other statute of any state, territory, country or province relating to insolvency or the protection of rights and creditors (each, an “Insolvency Event”), then:
(a) Customer shall promptly notify Metaswitch in writing.
(b) Metaswitch may reclaim and take possession of any Products on Customer’s premises for which Customer has not made full payment and Customer shall cease using any Products for which it has not made full payment to Metaswitch.
(c) Metaswitch has the right to terminate the Agreement pursuant to Section (10).
