Termination for an Insolvency Event. 32.1 Subject to clause 32.2 (Termination for an Insolvency Event), and without limiting any other rights or remedies ARENA may have arising out of or in connection with this Agreement, ARENA may, to the extent permitted by Law, terminate this Agreement by notice if an Insolvency Event occurs with respect to the Recipient.
32.2 Where an Insolvency Event occurs with respect to the Recipient, ARENA may, at its discretion, request the Recipient to nominate in writing to ARENA (within 10 Business Days of ARENA’s request) a suitably qualified and experienced party to perform the remaining obligations of the Recipient under this Agreement.
32.3 Where the Recipient provides a nomination in accordance with clause 32.2 (Termination for an Insolvency Event), ARENA must, within 10 Business Days, approve or reject the party nominated by the Recipient under clause 32.2 (Termination for an Insolvency Event).
32.4 Where ARENA approves the party nominated by the Recipient under clause 32.3 (Termination for an Insolvency Event), the parties will work cooperatively to facilitate the transfer of this Agreement and the Project to the nominated party.
32.5 Where the Recipient does not provide a nomination to ARENA, or ARENA rejects the party nominated by the Recipient, ARENA may, to the extent permitted by Law, terminate this Agreement by notice.
Termination for an Insolvency Event. Without limiting any other rights or remedies ARENA may have arising out of or in connection with this Agreement, ARENA may, to the extent permitted by law, terminate this Agreement by notice if an Insolvency Event occurs with respect to the Recipient.
Termination for an Insolvency Event. Either Party may terminate the Contract by the service of Notice on the other Party if the other Party becomes the subject of an Insolvency Event.
Termination for an Insolvency Event. 16.6.1 Unless prohibited by Law, this MSA may be terminated by Service Provider or ALU upon thirty (30) days written notice upon the occurrence of an Insolvency Event by the other Party. An “Insolvency Event” has occurred with respect to a Party if:
16.6.1.1 a receiver, liquidator or trustee of such Party is appointed by court order and such order remains in effect for more than thirty (30) days, or receivership, insolvency or bankruptcy proceedings are commenced or a petition is filed against such Party under any applicable liquidation, conservatorship, bankruptcy, moratorium, insolvency, reorganization THE COMPANY HAS REQUESTED AN ORDER FROM THE SECURITIES AND EXCHANGE COMMISSION (THE “COMMISSION”) PURSUANT TO RULE 406 OF THE SECURITIES ACT OF 1933, AS AMENDED, GRANTING CONFIDENTIAL TREATMENT TO SELECTED PORTIONS. ACCORDINGLY, THE CONFIDENTIAL PORTIONS HAVE BEEN OMITTED FROM THIS EXHIBIT, AND HAVE BEEN FILED SEPARATELY WITH THE COMMISSION. OMITTED PORTIONS ARE INDICATED IN THIS EXHIBIT WITH “*****”. MASTER SERVICES AGREEMENT TERMS AND CONDITIONS or similar Laws for the relief of debtors from time to time in effect and generally affecting the rights of creditors, and such proceedings or such petition has not been dismissed or stayed within thirty (30) days of the commencement or filing thereof; or
16.6.1.2 such Party commences a voluntary case under any Bankruptcy Law or voluntarily seeks, consents to or acquiesces in the benefit or benefits of any provision of any Bankruptcy Law, consents to the filing of any petition against it under any Bankruptcy Law, makes an assignment for the benefit of its creditors, admits in writing its inability to pay its debts generally as they become due or consents to the appointment of a receiver, trustee, liquidator or conservator for it or any part of its property or otherwise takes any action or causes any action to be taken which the other Party reasonably believes will cause the acting Party to be unable to perform its financial obligations under this MSA.
Termination for an Insolvency Event. 33.1 Subject to clause 33.2, and without limiting any other rights or remedies ARENA may have arising out of or in connection with this Agreement, ARENA may, to the extent permitted by Law, terminate this Agreement by notice if an Insolvency Event occurs with respect to the Recipient.
33.2 Where an Insolvency Event occurs with respect to the Recipient, ARENA may, at its discretion, request the Recipient to nominate in writing to ARENA (within 10 Business Days of ARENA’s request) a suitably qualified and experienced party to perform the remaining obligations of the Recipient under this Agreement.
33.3 Where the Recipient provides a nomination in accordance with clause 33.2, ARENA must, within 10 Business Days, approve or reject the party nominated by the Recipient under clause 33.2. Advancing Renewables Program Funding Agreement | Vast Solar, Port Augusta Concentrated Solar Power Project 2022/ARP026 27
33.4 Where ARENA approves the party nominated by the Recipient under clause 33.3, the parties will work cooperatively to facilitate the transfer of this Agreement and the Project to the nominated party.
33.5 Where the Recipient does not provide a nomination to ARENA, or ARENA rejects the party nominated by the Recipient, ARENA may, to the extent permitted by Law, terminate this Agreement by notice.
Termination for an Insolvency Event. Each Party acknowledges that this Agreement is a “Forward Contract” as defined in United States Bankruptcy Code (11 U.S.C. Sec. 101(25)). If a Party (the “Non-Defaulting Party”) terminates this Agreement pursuant to Article 16.1 by reason of one or more events of default of the other Party (the “Defaulting Party”), (i) the Defaulting Party shall have no right to recover damages or other compensation from the Non-Defaulting Party and (ii) the Non-Defaulting Party, in addition to any rights or remedies it may have under this Agreement or otherwise, shall have the right to recover damages or other compensation from the Defaulting Party in respect of the quantities of Oil that would have been sold or purchased, as the case may be, hereunder in the absence of a termination.
Termination for an Insolvency Event. Each Party acknowledges that this Agreement is a “Forward Contract” as defined in United States Bankruptcy Code (11 U.S.C. Sec. 101(25)). If a Party (the “Non-Defaulting Party”) terminates this Agreement pursuant to Article 17.1(b)(iii) or Article 17.1(c)(ii), as applicable, by reason of an Insolvency Event of the other Party (the “Defaulting Party”), (i) the Defaulting Party shall have no right to recover damages or other compensation from the Non-Defaulting Party and (ii) the Non-Defaulting Party, in addition to any rights or remedies it may have under this Agreement or otherwise, shall have the right to recover damages or other compensation from the Defaulting Party in respect of the quantities of Oil that would have been sold or purchased, as the case may be, hereunder in the absence of a termination.
Termination for an Insolvency Event. Either Party may terminate this Agreement in its entirety upon providing written notice to the other Party on or after the time that such other Party makes a general assignment for the benefit of creditors, files an insolvency petition in bankruptcy, petitions for or acquiesces in the appointment of any receiver, trustee, or similar officer to liquidate or conserve its business or any substantial part of its assets, commences under the laws of any jurisdiction any proceeding involving its insolvency, bankruptcy, reorganization, adjustment of debt, dissolution, liquidation, or any other similar proceeding for the release of financially distressed debtors, or becomes a party to any proceeding or action of the type described above, and such proceeding or action remains un-dismissed or un-stayed for a period of more than 60 days.
Termination for an Insolvency Event. If an Insolvency Event occurs, (a) Erasca will give immediate (not longer than three business days’) notice to Novartis of such occurrence, and (b) Novartis will have the right to immediately terminate this Agreement by written notice to Xxxxxx.
Termination for an Insolvency Event. If an Insolvency Event occurs, (a) the affected Party will give immediate (not longer than three Business Days’) notice to the other Party of such occurrence; and (b) such other Party will have the right to immediately terminate this Agreement by written notice to the affected Party.
