Material Breach; Bankruptcy Sample Clauses

Material Breach; Bankruptcy. Each Party may terminate this PST or any SOW(s) immediately upon written notice to the other Party: (a) if such other Party commits a material breach under this PST and, if curable, fails to cure that breach within thirty (30) days after receipt of written notice specifying the material breach; and/or (b) if such otherParty is declared bankrupt by a judicial decision, or, in the event a bankruptcy action is filed against such other Party, it has not taken, within thirty (30) days from service of such action to such Party, any possible action under applicable law for such filed action to be dismissed.
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Material Breach; Bankruptcy. 27.01 If either Party hereto fails to perform or observe the basic principles, provision and conditions of this Agreement and such Party fails to remedy such failure or begin appropriate and timely steps to remedy such failure within ninety (90) days from the receipt of written notice from the non-breaching Party of such failure, the non-breaching Party may terminate this Agreement. Upon such termination, the breaching Project Confidential Evaluation Material Party shall be responsible for all damages suffered by the non-breaching Party and/or the joint venture companies as a direct and immediate result of such non-preformance or non-observance and shall recompense the non-breaching Party and/or the joint venture companies for all direct and immediate losses suffered. Upon such termination, the nonbreaching Party shall have an option to buy all shares then held by the breaching Party in NEWCO and/or to cause all such shares to be retired for capital reduction at the fair market value determined pursuant to Section 28 hereof. In the event that this Agreement is terminated under this Section 27.01, the breaching Party shall not be entitled to a supply right of polystyrene or bisphenol-A and/or methylene chloride, as appropriate, under Section 26.04 hereof either itself or through others as mentioned there, or the right to notify a phase down of such supply right also under Section 26.04 hereof either itself or through the applicable joint venture company.
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Material Breach; Bankruptcy. Each Party may terminate this Agreement immediately upon written notice to the other Party: (a) if such other Party commits a material breach of any provision of this Agreement and, if curable, fails to cure that breach within seven (7) days after receipt of written notice; or (b) if such other Party is declared bankrupt by a judicial decision, or, in the event a bankruptcy action is filed against such other Party, it has not taken, within sixty (60) days from service of such action to such Party, any possible action under applicable Law for such filed action to be dismissed.
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Related to Material Breach; Bankruptcy

  • Material Breach A material breach for purposes of this Agreement shall include, but not be limited to:

  • Investigation of Breach If the Seller (i) has knowledge of a breach of a representation or warranty made in Section 3.4, (ii) receives notice from the Depositor, the Trust, the Owner Trustee or the Indenture Trustee of a breach of a representation or warranty made in Section 3.4, (iii) receives a written request to repurchase a Receivable due to an alleged breach of a representation and warranty in Section 3.4 from the Owner Trustee, the Indenture Trustee, any Verified Note Owner or any Noteholder (which repurchase request shall provide sufficient detail so as to allow the Seller to reasonably investigate the alleged breach of the representations and warranties in Section 3.4; provided, that with respect to a repurchase request from a Noteholder or a Verified Note Owner, such repurchase request shall initially be provided to the Indenture Trustee) for a Receivable (each, a “Repurchase Request”) or (iv) receives a final report from the Asset Representations Reviewer that indicates that the Asset Representations Reviewer has determined that a test procedure under the Asset Representations Review Agreement has not been satisfied with respect to a representation or warranty set forth in Section 3.4 for a Receivable, then, in each case, the Seller will investigate the Receivable to confirm the breach and determine if the breach materially and adversely affects the interests of the Purchaser, the Issuer or the Noteholders in any Receivable. None of the Servicer, the Issuer, the Owner Trustee, the Indenture Trustee, the Asset Representations Reviewer or the Administrator will have an obligation to investigate whether a breach of any representation or warranty has occurred or whether any Receivable is required to be repurchased under this Section 3.5.

  • Termination for Material Breach A party may terminate this Agreement immediately upon notice to the other parties if any of the other parties materially breaches this Agreement, and if capable of cure, does not cure the breach within 10 days after receiving notice specifying the breach. If the material breach affects only certain Services, the non-breaching party that served the notice may choose to terminate only the affected Services.

  • Agreement Will Not Cause Breach or Violation The consummation of the transactions contemplated by this Agreement (including the issuance and sale of the Shares) will not result in any violation of or constitute a default or any event that, with notice or lapse of time, or both, would conflict with or constitute a breach or default of the Bylaws of the Buyer or of any Material Contract or any material provision of local, state, federal or foreign law, rule or regulation and will not result in the creation or imposition of any lien or encumbrance on any of the Buyer's property or on the Shares.

  • Termination upon Material Breach Notwithstanding the foregoing, a Party may terminate this Agreement if any other Party materially breaches a material provision of this Agreement and such material breach is not cured (i) within thirty (30) days after being given notice of the breach in the case of a material breach of an obligation to make payment hereunder or (ii) within sixty (60) days after being given notice of the breach in the case of any other material breach.

  • Breach A breach of the contract clauses above may be grounds for termination of the contract, and for debarment as a contractor and subcontractor as provided in 29 C.F.R. § 5.12.

  • Event of Breach 7.1 The following circumstances shall be deemed Event of Default:

  • No Conflict, Breach, Violation or Default The execution, delivery and performance of the Transaction Documents by the Company and the issuance and sale of the Securities will not conflict with or result in a breach or violation of any of the terms and provisions of, or constitute a default under (i) the Company’s Articles of Incorporation or the Company’s Bylaws, both as in effect on the date hereof (true and complete copies of which have been made available to the Investor through the XXXXX system), or (ii)(a) any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company, any Subsidiary or any of their respective assets or properties, or (b) any agreement or instrument to which the Company or any Subsidiary is a party or by which the Company or a Subsidiary is bound or to which any of their respective assets or properties is subject.

  • Notification of Breach During the term of this Agreement:

  • Liability; Provisions that Survive Termination If this Agreement is terminated pursuant to this Article VII, such termination shall be without liability of any party hereto to any other party hereto except as provided in Section 9.02 and for the Company’s obligations in respect of all prior Issuance Notices, and provided further that in any case the provisions of Article VI, Article VIII and Article IX shall survive termination of this Agreement without limitation.

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