Common use of Stopping Business/Winding-Up Clause in Contracts

Stopping Business/Winding-Up. Any step being taken by the Franchisee, the Parent or any Bond Provider with a view to its winding- up or any person presenting a winding-up petition or any of the Franchisee or the Parent or any Bond Provider ceasing or threatening to cease to carry on all or, in the reasonable opinion of the Secretary of State, a material part of its business, except for the purpose of and followed by a reconstruction, amalgamation, reorganisation, merger or consolidation on terms approved by the Secretary of State before that step is taken;

Stopping Business/Winding-Up. Any step being taken by the Franchisee, the Parent Parent, either, or both, of the Ultimate Parents or any Bond Provider with a view to its winding- winding-up or any person presenting a winding-up petition or any of the Franchisee or the Parent or either, or both, of the Ultimate Parents or any Bond Provider ceasing or threatening to cease to carry on all or, in the reasonable opinion of the Secretary of State, a material part of its business, except for the purpose of and followed by a reconstruction, amalgamation, reorganisation, merger or consolidation on terms approved by the Secretary of State before that step is taken;

Stopping Business/Winding-Up. Any step being taken by the Franchisee, the Parent or Parent, any Bond Provider or Guarantor with a view to its winding- winding-up or any person presenting a winding-up petition or any of the Franchisee or Franchisee, the Parent or Parent, any Bond Provider or Guarantor ceasing or threatening to cease to carry on all or, in the reasonable opinion of the Secretary of State, a material part of its business, except for the purpose of and followed by a reconstruction, amalgamation, reorganisation, merger or consolidation on terms approved by the Secretary of State before that step is taken;

Stopping Business/Winding-Up. Any step being taken by the Franchisee, the Parent or any Bond Provider with a view to its winding- winding-up or any person presenting a winding-up petition or any of the Franchisee or the Parent or any Bond Provider ceasing or threatening to cease to carry on all or, in the reasonable opinion of the Secretary of State, a material part of its business, except for the purpose of and followed by a reconstruction, amalgamation, reorganisation, merger or consolidation on terms approved by the Secretary of State before that step is taken;