Insolvency of the Supplier Sample Clauses

Insolvency of the Supplier. In the case of the Supplier’s insolvency, we have the right to withhold a reasonable security, at a minimum, however, 10% of the agreed price, up to the expiry of the limitation period for warranty claims. In the case of the Supplier’s insolvency, the Supplier assigns to us its warranty claims against its upstream suppliers. In the case of the Supplier’s insolvency, we have the right to disclose this assignment. In addition, we have the right to withdraw from orders for deliveries that are not fulfilled at that point in time.
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Insolvency of the Supplier. If the Supplier suspends payments to its contractual partners (including the Customer) or if the Supplier or one of its creditors files for insolvency or similar proceedings against the Supplier, the Customer can, without prejudice to its other statutory and/or contractual rights, terminate the contract with immediate effect.
Sample 1
Insolvency of the Supplier. 15.1 This clause 15 applies if:- a) The Supplier makes a voluntary arrangement with it 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 b) an encumbrancer takes possession, or a receiver is appointed, of any of the Suppliers property or assets; or c) The Supplier ceases, or threatens to cease to carry on business; or d) the Company reasonably believes that any of the events mentioned above is about to occur.
Sample 1

Related to Insolvency of the Supplier

  • 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 passing any resolution or making of any order for winding up, whether voluntary or otherwise, or in the event of 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.

  • Contractor Bankruptcy/Insolvency If the Contractor should be adjudged bankrupt or should have a general assignment for the benefit of its creditors or if a receiver should be appointed on account of the Contractor’s insolvency, the County may terminate this Contract.

  • Insolvency Proceedings Any corporate action, legal proceedings or other procedure or step is taken in relation to:

  • Insolvency or Bankruptcy The death, dissolution or insolvency of, appointment of a receiver by or on behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against me or any co-signer, endorser, surety or guarantor of this Agreement or any other obligations I have with you.

  • Insolvency Event An “Insolvency Event” occurs if the Company institutes proceedings to be adjudicated as bankrupt or insolvent, consents to the institution of bankruptcy or insolvency proceedings against it, files a petition or answer or consent seeking reorganization or relief under any applicable law in respect of bankruptcy or insolvency, consents to the filing of any petition of that kind or to the appointment of a receiver, liquidator, assignee, trustee, custodian or sequestrator (or other similar official) of it or any substantial part of its property or makes an assignment for the benefit of creditors, or if information becomes publicly available indicating that unsecured claims against the Company are not expected to be paid.

  • BANKRUPTCY - INSOLVENCY The Lessee agrees that in the event all or a substantial portion of the Lessee’s assets are placed in the hands of a receiver or a Trustee, and such status continues for a period of 30 days, or should the Lessee make an assignment for the benefit of creditors or be adjudicated bankrupt; or should the Lessee institute any proceedings under the bankruptcy act or any amendment thereto, then such Lease or interest in and to the leased Premises shall not become an asset in any such proceedings and, in such event, and in addition to any and all other remedies of the Lessor hereunder or by law provided, it shall be lawful for the Lessor to declare the term hereof ended and to re-enter the leased land and take possession thereof and all improvements thereon and to remove all persons therefrom and the Lessee shall have no further claim thereon.

  • Scope of the Services 3.1 The services that the Construction Manager shall provide include, but are not limited to those described in the following sections.

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