Common use of Termination by the Purchaser Clause in Contracts

Termination by the Purchaser. In addition to any other rights and remedies (under this Agreement or otherwise) which the Purchaser may have to terminate or rescind this Agreement, the Purchaser may, at its option, terminate this Agreement by notice in writing to the Vendor if :- (a) the Vendor shall fail to complete the sale or the transfer of the Sale Share in accordance with the terms of this Agreement, or (b) the Vendor and/or the BVI Company (or any of them) shall be in breach of Clauses 4, 6, 7 or 8 or any part thereof, or (c) the Vendor and/or the BVI Company (or any of them) being in material breach of any of the material obligations on their part or on the part of any of them under this Agreement, or (d) any of the Vendor and/or the BVI Company shall become bankrupt or go into liquidation (as the case may be) or shall commit any act of bankruptcy or any proceeding or resolution shall be passed for the winding up of the BVI Company, or any of the Vendor and/or the BVI Company shall otherwise become insolvent or unable to pay his debts, or a trustee in bankruptcy or receiver or liquidator or similar officer shall be appointed in respect of any of the Vendor and/or the BVI Company and/or any of their assets, or any of the Vendor and/or the BVI Company shall suffer his assets or any significant part thereof to be seized or levied on execution or other process or proceedings.

Termination by the Purchaser. In addition to any other rights and remedies (under this Agreement or otherwise) which the Purchaser may have to terminate or rescind this Agreement, the Purchaser may, at its option, terminate this Agreement by notice in writing to the Vendor if :- (a) the Vendor shall fail to complete the sale or the transfer of the Sale Share in accordance with the terms of this Agreement, or (b) the Vendor and/or the BVI Company (or any of them) shall be in breach of Clauses 43, 65, 6 or 7 or 8 or any part thereof, or (c) the Vendor and/or the BVI Company (or any of them) being in material breach of any of the material obligations on their part or on the part of any of them under this Agreement, or (d) any of the Vendor and/or the BVI Company shall become bankrupt or go into liquidation (as the case may be) or shall commit any act of bankruptcy or any proceeding or resolution shall be passed for the winding up of the BVI Company, or any of the Vendor and/or the BVI Company shall otherwise become insolvent or unable to pay his debts, or a trustee in bankruptcy or receiver or liquidator or similar officer shall be appointed in respect of any of the Vendor and/or the BVI Company and/or any of their assets, or any of the Vendor and/or the BVI Company shall suffer his assets or any significant part thereof to be seized or levied on execution or other process or proceedings.