Termination Events by City Sample Clauses

Termination Events by City. City shall have the right to terminate this Agreement by written notice to Manager if any one or more of the following events shall occur: If Manager shall apply for or consent to the appointment of a receiver, trustee or liquidator of all or a substantial part of its assets or make a general assignment for the benefit of its creditors, or file a voluntary petition in bankruptcy or a petition seeking reorganization, composition, arrangement with creditors, liquidation or similar relief under any present or future statute, law or regulation, or file an answer admitting the material allegations of a petition filed against it in any proceeding under the Bankruptcy Code or is adjudicated bankrupt or insolvent. If any petition or complaint is filed without the application, approval or consent of City seeking reorganization, composition, arrangement with creditors, liquidation or similar relief under any present or future statute, law or regulation with respect to Manager seeking appointment of a receiver, trustee or liquidator thereof of all or a substantial part of such party’s assets, and such petition or complaint shall be pending and not withdrawn or dismissed for an aggregate of ninety (90) days (excluding any days during which such petition or complaint shall be stayed), whether or not consecutive. Manager or any affiliate of Manager shall be in default under any other provision of this Agreement and shall fail to cure such default within sixty (60) days following written notice from City to Manager. If in the City’s or the public’s best interest, City may terminate this Agreement upon thirty (30) days’ prior written notice to Manager.
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Related to Termination Events by City

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  • CONDITIONS OF SETTLEMENT, EFFECT OF DISAPPROVAL, CANCELLATION OR TERMINATION 9.1 The Effective Date of this Settlement Agreement shall not occur unless and until each of the following events occurs and shall be the date upon which the last (in time) of the following events occurs:

  • Rescission and Early Termination of Contract The Illinois Commerce Commission is considering rescission and early termination of contract regulations that may afford you opportunities within certain parameters to rescind or terminate your contract without incurring an early termination fee. In addition, your DSP’s tariff (which is on file with the Illinois Commerce Commission) may contain provisions regarding penalty-free rescission periods. DES will comply with all applicable provisions and regulations concerning rescission and early termination of contract. Shortly after your election to take service from DES, your DSP should provide you an enrollment notice informing you of any rescission rights you may have and the last day for making a request to rescind. If you rescind this Agreement within the timeframe specified by your DSP, your enrollment with DES will be cancelled without penalty to you. Upon rescission in accordance with applicable law, this Agreement will be considered cancelled and neither party shall have any further obligation hereunder to each other. If you do not rescind this Agreement, you still may terminate the Agreement without any termination fee or penalty within 10 business days after the date of the first xxxx issued to you under this Agreement by calling DES toll-free at 000-000-0000 to let DES know to terminate this Agreement. You may terminate a residential electric supply agreement in this manner only one time in any 12 month period. Upon termination, you will remain responsible for all obligations, including payment for Retail Power and related costs and charges, incurred under this Agreement prior to the effective date of termination, including any applicable termination fee.

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