Common use of Termination Due to Insolvency Clause in Contracts

Termination Due to Insolvency. 45.4.1. The Council may terminate forthwith by notice in writing if the Provider has: has a Liquidator, Receiver, Administrator, administrative Receiver or similar officer appointed over its assets; or (being a company) passes a resolution for winding up (otherwise than for the purposes of a solvent amalgamation or reconstruction) or a court makes an order to that effect; or (being a partnership or other unincorporated association) is dissolved or (being a natural person) dies; or becomes or is declared insolvent or convenes a meeting of or makes or proposes to make any arrangement or composition with its creditors; or ceases or threatens to cease to carry on its business. .

Termination Due to Insolvency. 45.4.1. The Council may terminate forthwith by notice in writing if the Provider has: : i. has a Liquidator, Receiver, Administrator, administrative Receiver or similar officer appointed over its assets; or or ii. (being a company) passes a resolution for winding up (otherwise than for the purposes of a solvent amalgamation or reconstruction) or a court makes an order to that effect; or or iii. (being a partnership or other unincorporated association) is dissolved or (being a natural person) dies; or or iv. becomes or is declared insolvent or convenes a meeting of or makes or proposes to make any arrangement or composition with its creditors; or or v. ceases or threatens to cease to carry on its business. .