Common use of Other Conditions of Termination Clause in Contracts

Other Conditions of Termination. This Agreement shall terminate: (a) Immediately unless prohibited by applicable law, without the necessity of any action being taken by XXXX or Licensee if: (i) Licensee files a bankruptcy action or becomes bankrupt or insolvent; (ii) Licensee’s Board of Directors elects to liquidate its assets or dissolve its business; (iii) Licensee ceases its business operations; (iv) Licensee makes an assignment for the benefit of creditors; or (v) if the business or assets of Licensee are otherwise placed in the hands of a receiver, assignee or trustee, whether by voluntary act of Licensee or otherwise; or (b) At any time by mutual written agreement between Licensee and XXXX.

Other Conditions of Termination. This Agreement shall terminate: (a) Immediately unless prohibited by applicable law, without the necessity of any action being taken by XXXX OSIF or Licensee if: (ix) Licensee files a bankruptcy action or becomes bankrupt or insolvent; (ii) Licensee’s Board of Directors elects to liquidate its assets or dissolve its business; (iii) Licensee ceases its business operations; (iv) Licensee makes an assignment for the benefit of creditors; or (v) if the business or assets of Licensee are otherwise placed in the hands of a receiver, assignee or trustee, whether by voluntary act of Licensee or otherwise; or (b) At any time by mutual written agreement between Licensee and XXXXOSIF.

Other Conditions of Termination. This Agreement shall terminate: (a) Immediately unless prohibited by applicable law, without the necessity of any action being taken by XXXX OHIO or Licensee if: (i) Licensee files a bankruptcy action or becomes bankrupt or insolvent; (ii) Licensee’s Board of Directors elects to liquidate its assets or dissolve its business; (iii) Licensee ceases its business operations; (iv) Licensee makes an assignment for the benefit of creditors; or (v) if the business or assets of Licensee are otherwise placed in the hands of a receiver, assignee or trustee, whether by voluntary act of Licensee or otherwise; or (b) At any time by mutual written agreement between Licensee and XXXXOHIO.