Common use of Termination Due to Other Circumstances Clause in Contracts

Termination Due to Other Circumstances. (a) This Agreement may be terminated as set forth below upon the occurrence of any of the following events: (i) by either party immediately, if the other ceases to do business, or otherwise terminates its business operations; (ii) by either party immediately, if the other shall fail to promptly secure or renew any license, registration, permit, authorization or approval necessary for the conduct of its business in the manner contemplated by this Agreement, or if any such license, registration, permit, authorization or approval is revoked or suspended and not reinstated within sixty (60) calendar days or diligent efforts are not being made to effect such reinstatement; (iii) by either party immediately, if the other materially breaches any material provision of this Agreement and fails to cure such breach within sixty (60) calendar days of written notice describing the breach; or (iv) by either party immediately, if the other shall seek voluntary protection under any bankruptcy, receivership, trust deed, creditors’ arrangements, composition or comparable proceeding, or if any such proceeding is instituted against the other (and not dismissed within ninety (90) calendar days).

Termination Due to Other Circumstances. (a) This Agreement may be terminated as set forth below upon the occurrence of any of the following events: (i) by either party immediately, if the other ceases to do business, or otherwise terminates its business operations; (ii) by either party immediately, if the other shall fail to promptly secure or renew any license, registration, permit, authorization or approval necessary for the conduct of its business in the manner contemplated by this Agreement, or if any such license, registration, permit, authorization or approval is revoked or suspended and not reinstated within sixty (60) calendar days or diligent efforts are not being made to effect such reinstatement; (iii) by either party immediately, if the other materially breaches any material provision of this Agreement and fails to cure such breach within sixty (60) calendar days of written notice describing the breach; or (iv) by either party immediately, if the other shall seek voluntary protection under any bankruptcy, receivership, trust deed, creditors’ ' arrangements, composition or comparable proceeding, or if any such proceeding is instituted against the other (and not dismissed within ninety (90) calendar days).