Common use of Termination for Bankruptcy or Insolvency Clause in Contracts

Termination for Bankruptcy or Insolvency. Either Party may terminate the Agreement by written notice to the other Party and may regard the other Party as being in default of the Agreement, if the other Party ceases to conduct business in the ordinary course, makes an assignment for the benefit of creditors, has appointed a receiver or trustee in bankruptcy, or makes a filing under any federal, provincial or state bankruptcy or insolvency law.

Termination for Bankruptcy or Insolvency. Either If permitted by Applicable Law, either Party may terminate the this Agreement by immediately upon written notice to the other Party and may regard the other Party as being in default of the Agreement, if the other Party ceases to conduct business in the ordinary coursebecomes insolvent, makes an a general assignment for the benefit of creditors, has appointed or files a voluntary petition in bankruptcy or for reorganization or arrangement under the bankruptcy laws, or if a petition in bankruptcy is filed against such other Party and is not dismissed within sixty (60) days after the filing, or if a receiver or trustee in bankruptcy, is appointed for all or makes a filing under any federal, provincial part of the property or state bankruptcy or insolvency lawassets of the other Party.

Termination for Bankruptcy or Insolvency. Either Party may terminate the this Agreement by written notice to the other Party and may regard the other Party as being in default of the Agreement, if the other Party becomes insolvent or bankrupt, assigns all or a substantial part of its business or assets for the benefit of creditors, permits the appointment of a receiver for its business assets, becomes subject to any legal proceeding relating to insolvency or the protection of creditor’s rights or otherwise ceases to conduct business in the ordinary normal course, makes an assignment for the benefit of creditors, has appointed a receiver or trustee in bankruptcy, or makes a filing under any federal, provincial or state bankruptcy or insolvency law.

Termination for Bankruptcy or Insolvency. Either Each Party may terminate the Agreement this AGREEMENT with immediate effect by means of a written notice to the other Party and may regard in the event that: (a) a creditor or other claimant takes possession of, or a receiver, administrator or similar officer is appointed over any of the assets of the other Party as being in default of the Agreement, if or (b) the other Party ceases makes any voluntary arrangement with its creditors or becomes subject to conduct business in the ordinary course, makes an assignment for the benefit of creditors, has appointed a receiver any court or trustee in bankruptcy, or makes a filing under administration order pursuant to any federal, provincial or state bankruptcy or insolvency law.

Termination for Bankruptcy or Insolvency. Either Party may by notice and without remedy period immediately terminate the this Agreement by written notice to the other Party and may regard the other Party as being in default of the Agreement, if the other Party ceases its business, is subject to conduct business bankruptcy, liquidation (except for the purpose of a solvent reconstruction or amalgamation) or insolvency proceedings, a receiver or statutory manager is appointed in respect of the ordinary coursewhole or any part of its assets, it makes an assignment for the benefit of creditors, has appointed a receiver or trustee in bankruptcy, composition or makes a filing under arrangement with its creditors or threatens to do any federal, provincial or state bankruptcy or insolvency lawof these things.

Termination for Bankruptcy or Insolvency. Either Party To the extent permitted by applicable law, either party may terminate the Agreement by this agreement immediately upon a party’s written notice of termination to the other Party and may regard party upon the other Party as being in default party’s voluntary or involuntary dissolution, bankruptcy, insolvency or assignment of the Agreement, if the other Party ceases to conduct business in the ordinary course, makes an assignment assets for the benefit of creditors, has appointed a receiver or trustee in bankruptcy, or makes a filing under any federal, provincial or state bankruptcy or insolvency law.

Termination for Bankruptcy or Insolvency. Either This Agreement may be terminated immediately by either Party may terminate upon occurrence of any of the Agreement following events: (i) insolvency of the other Party; (ii) filing by written notice to or against the other Party and may regard of voluntary or involuntary petition in bankruptcy or for any similar relief; or (iii) the execution of an assignment by the other Party as being in default of the Agreement, if the other Party ceases to conduct business in the ordinary course, makes an assignment for the benefit of creditors, has appointed creditors or appointment of a receiver or trustee in bankruptcy, or makes a filing under of the other Party for any federal, provincial or state bankruptcy or insolvency lawreason.

Termination for Bankruptcy or Insolvency. Either Party may terminate the this Agreement by upon written notice to the other Party and may regard the other Party as being in default of the Agreement, if the other Party becomes insolvent or bankrupt, assigns all or a substantial part of its business or assets for the benefit of creditors, permits the appointment of a receiver for its business or assets, becomes subject to any legal proceeding relating to insolvency or the protection of creditors’ rights or otherwise ceases to conduct business in the ordinary normal course, makes an assignment for the benefit of creditors, has appointed a receiver or trustee in bankruptcy, or makes a filing under any federal, provincial or state bankruptcy or insolvency law.