Common use of Termination by Operation of Law Clause in Contracts

Termination by Operation of Law. Subject to Section 10.4, this Agreement shall immediately and automatically terminate should either Party (a) become insolvent; (b) enter into or file a petition, arraignment or proceeding seeking an order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter into a receivership of any of its assets or (d) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.4, this This Agreement shall immediately and automatically terminate should either Party party (a) become insolvent; (b) enter into or file a petition, arraignment or proceeding seeking an on order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter into a receivership of any of its assets or (d) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.4, this This Agreement shall immediately and automatically terminate should either Party party (a) become insolvent; (b) enter into or file a voluntary petition, arraignment or proceeding seeking an on order for relief under the bankruptcy laws of its respective jurisdiction; (cb) enter into a receivership of any of its assets or (dc) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.4, Either Party may terminate this Agreement shall immediately and automatically terminate upon notice should either the other Party (a) become insolvent; (b) enter into or file a petition, arraignment or proceeding seeking an on order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter into a receivership of any of its assets or (d) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.4, this This Agreement shall immediately and automatically terminate should either Party (a) become insolvent; (b) enter into or file a petition, arraignment or proceeding seeking an order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter into a receivership of any of its assets assets; or (d) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.49.4, this Agreement shall will immediately and automatically terminate should either Party (a) become insolvent; (b) enter into or file a petition, arraignment or proceeding seeking an order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter into a receivership of any of its assets or (d) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.4, this This Agreement shall immediately and automatically terminate at the election of the other party, should either Party party (a) become insolvent; (b) enter into or file a petition, arraignment or proceeding seeking an on order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter into a receivership of any of its assets assets, or (d) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.4, this Agreement shall immediately and automatically terminate should either Party (a) become insolvent; (b) enter into or file a petition, arraignment arrangement or proceeding seeking an order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter into a receivership of any of its assets or (d) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.4, Either party hereto may terminate this Agreement shall immediately and automatically terminate should either Party upon written notice if the other party hereto (a) become becomes insolvent; (b) enter enters into or file files a petition, arraignment or proceeding seeking an on order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter enters into a receivership of any of its assets or (d) enter enters into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.411.4., this Agreement shall immediately and automatically terminate should either Party (a) become insolventfail to meet its financial obligations on an ongoing basis; (b) enter into or file a petition, arraignment or proceeding seeking an order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter into a receivership of any of its assets or (d) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.4, this This Agreement shall immediately and automatically terminate should either Party (a) become insolvent; (b) enter into or file a petition, arraignment or proceeding seeking an on order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter into a receivership of any of its assets assets, or (d) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.

Termination by Operation of Law. Subject to Section 10.410.3, this Agreement shall immediately and automatically terminate should either Party (a) become insolvent; (b) enter into or file a petition, arraignment or proceeding seeking an order for relief under the bankruptcy laws of its respective jurisdiction; (c) enter into a receivership of any of its assets or (d) enter into a dissolution or liquidation of its assets or an assignment for the benefit of its creditors.