Common use of Termination Due to Insolvency Clause in Contracts

Termination Due to Insolvency. Either party may suspend performance and/or terminate this Agreement if the other party becomes insolvent or makes any assignment for the benefit of creditors or similar transfer evidencing insolvency, or suffers or permits the commencement of any form of insolvency or receivership proceeding, or has any petition under bankruptcy law filed against it, which petition is not dismissed within sixty (60) days of such filing, or has a trustee or receiver appointed for its business or assets or any party thereof.

Termination Due to Insolvency. Either party may suspend ----------------------------- performance and/or terminate this Agreement if the other party becomes insolvent or makes any assignment for the benefit of creditors or similar transfer evidencing insolvency, or suffers or permits the commencement of any form of insolvency or receivership proceeding, or has any petition under bankruptcy law filed against it, which petition is not dismissed within sixty (60) days of such filing, or has a trustee or receiver appointed for its business or assets or any party thereof.

Termination Due to Insolvency. Either party may suspend performance and/or terminate this the Agreement immediately upon written notice if the other party ceases to conduct business in the normal course, becomes insolvent or insolvent, admits in writing its inability to meet its debts as they mature, makes any an assignment for the benefit of creditors or similar transfer evidencing insolvencycreditors, or suffers or permits the commencement of commences any form of insolvency or receivership proceedingbankruptcy proceedings, or has commenced against it any petition under bankruptcy law filed against it, which petition is proceedings that are not dismissed within sixty (60) days of such filing, or has a trustee or receiver appointed for its business or assets or any party thereofdays.

Termination Due to Insolvency. Either party may suspend performance and/or terminate this Agreement if the other party becomes insolvent or makes any assignment for the benefit of creditors or similar transfer evidencing insolvency, or suffers or permits the commencement of any form of insolvency or receivership proceeding, or has any petition under bankruptcy law filed against it, which petition is not dismissed within sixty one hundred and twenty (60120) days of such filing, or has a trustee or receiver appointed for its business or assets or any party thereof.

Termination Due to Insolvency. Either party may suspend performance ----------------------------- and/or terminate this Agreement if the other party becomes insolvent or makes any assignment for the benefit of creditors or similar transfer evidencing insolvency, or suffers or permits the commencement of any form of insolvency or receivership proceeding, or has any petition under bankruptcy law filed against it, which petition is not dismissed within sixty (60) 60 days of such filing, or has a trustee or receiver appointed for its business or assets or any party thereof.