Common use of Termination and Withdrawal Clause in Contracts

Termination and Withdrawal. Without prejudice to any other rights it may have, the Organisation may terminate the Agreement by notice in writing: If the whole or any part of the amounts due from the Exhibitor to the Organiser are not paid within 14 days of the due dates (whether formally demanded or not); If the Exhibitor fails to observe and fulfil any of the terms and conditions of the Agreement; If the Exhibitor shall have a receiver or administrator receiver appointed or the Exhibitor being a partnership has a receiver appointed or is wound up or dissolved or being an individual executes as debtor a deed of arrangement to which the Deeds of Arrangement Act 1914 applies or applies to the Court for an interim order or one is made under Part VIII of the Insolvency Act 1986 or the Exhibitor presents or has presented against him a bankruptcy petition or a bankrupt order is made against him or he enters into any compromise or arrangement with his creditors or a majority of them in value. Upon termination the Exhibitor shall remain liable to pay the Organiser the amounts due from it under the Agreement prior to such termination.

Termination and Withdrawal. Without prejudice to any other rights it may have, the Organisation may terminate the Agreement by notice in writing: If the whole or any part of the amounts due amountsdue from the Exhibitor to the Organiser are not paid within 14 days of the due dates (whether formally demanded or not); If the Exhibitor fails to observe and fulfil any of the terms and conditions of the Agreement; If the Exhibitor shall have a receiver or administrator receiver appointed or the Exhibitor being a partnership has a receiver appointed or is wound up or dissolved or being an individual executes as debtor a deed of arrangement to which the Deeds of Arrangement Act 1914 applies or applies to the Court for an interim order or one is made under Part VIII of the Insolvency Act 1986 or the Exhibitor presents or has presented against him a bankruptcy petition or a bankrupt order is made against him or he enters into any compromise or arrangement with his creditors or a majority of them in value. Upon termination the Exhibitor shall remain liable to pay the Organiser the amounts due from it under the Agreement prior to such termination.