Termination by Insolvency. Either party may terminate this Agreement by providing written notice to the other party if the other party ceases to function as a going concern, becomes insolvent, makes an assignment for the benefit of creditors, files a petition in bankruptcy, permits a petition in bankruptcy to be filed against it, or admits in writing its inability to pay its debts as they mature, or if a receiver is appointed for a substantial part of its assets.
Appears in 5 contracts
Samples: Sponsorship Agreement (Nutrisystem Com Inc), Sponsorship Agreement (Vitaminshoppecom Inc), Sponsorship Agreement (Drkoop Com)
Termination by Insolvency. Either party Party may terminate this Agreement effective immediately by providing written notice to the other party Party if the other party ceases to function as a going concern, becomes insolvent, Party makes an assignment for the benefit of creditors, files a petition in bankruptcy, permits a petition in bankruptcy to be filed against it, or admits in writing its inability to pay its debts as they mature, or if a receiver is appointed for a substantial part of its assets.
Appears in 3 contracts
Samples: Healthsource Solutions LLC, Terms and Conditions, Terms and Conditions
Termination by Insolvency. Either party may terminate this Agreement by providing written notice to the other party if the other party ceases to function as a going concern, becomes insolvent, makes an assignment for the benefit of creditors, files a petition in bankruptcy, permits a petition in bankruptcy to be filed against it, or admits in writing its inability to pay its debts as they mature, or if a receiver is appointed for a substantial part of its assets.
Appears in 1 contract
Samples: Service Agreement
