Common use of Termination Due to Bankruptcy Clause in Contracts

Termination Due to Bankruptcy. In the event proceedings in bankruptcy are commenced by or against the Contractor, or the Contractor is adjudged bankrupt or a receiver is appointed, the Contractor shall notify the State immediately in writing and State may terminate this Agreement and all further rights and obligations by giving three (3) days’ notice in writing in the manner specified herein.

Appears in 4 contracts

Samples: Standard Agreement, Contract Agreement, Grant Management Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!