Other Cases for Termination. Either Party shall have the right and option to terminate this Agreement immediately at any time, by notice in writing to the other Party in the event that such other Party: (a) passes any resolution for or permits any proceedings for its winding up; or (b) makes a general assignment for the benefit of creditors; or (c) has filed against it or files a petition in bankruptcy or insolvency or is declared bankrupt or insolvent or declares that it is bankrupt or insolvent; or (d) has filed against it or files any petition or answer seeking reorganization, readjustment, or arrangement of its business or debts and such action remains undismissed or unstayed for a period of more than sixty (60) days.
Appears in 4 contracts
Samples: License Agreement (Biomarin Pharmaceutical Inc), License Agreement (Replidyne Inc), License Agreement (Replidyne Inc)
