Common use of Termination by Sponsor Clause in Contracts

Termination by Sponsor. Sponsor may terminate this Agreement without liability to Emerald (i) upon any breach or threatened breach of this Agreement by Emerald that is not cured within thirty (30) days of Sponsor giving written notice to Emerald of such breach or threatened breach, or (ii) if Emerald becomes insolvent, makes any assignment for the benefit of creditors, goes to liquidation or has a receiver or trustee appointed for the benefit of creditors, whether voluntary or other- wise, or seeks the protection of, or has a proceeding instituted against it, under the bankruptcy code, or any similar statute.

Termination by Sponsor. Sponsor may terminate this Agreement without liability to Emerald (i) upon any breach or threatened breach of this Agreement by Emerald that is not cured within thirty (30) days of Sponsor giving written notice to Emerald of such breach or threatened breach, or (ii) if Emerald becomes insolvent, makes any assignment for the benefit of creditors, goes to liquidation or has a receiver or trustee appointed for the benefit of creditors, whether voluntary or other- wiseotherwise, or seeks the protection of, or has a proceeding instituted against it, under the bankruptcy code, or any similar statute.