Common use of Termination for Bankruptcy Clause in Contracts

Termination for Bankruptcy. In the event that either Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In Either Party may terminate this Agreement immediately if the event that either other Party files for protection under bankruptcy lawsbecomes insolvent, makes an a general assignment for the benefit of creditors, appoints suffers or suffers permits the appointment of a receiver for its business or trustee over its propertyassets, files a avails itself of or becomes subject to any petition or proceeding under any bankruptcy statute of any state or country relating to insolvency act or has any such petition filed against it which is not discharged within sixty (60) days the protection of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Partyrights of creditors.

Termination for Bankruptcy. In the event that either a Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files shall (i) file a petition under in bankruptcy, (ii) become or be declared insolvent, or become the subject of any bankruptcy or insolvency act or has any such petition filed against it which is proceedings (not discharged dismissed within sixty (60) days calendar days) related to its liquidation, insolvency or the appointment of the filing thereofa receiver, (iii) make an assignment on behalf of all or substantially all of its creditors, or (iv) take any corporate action for its winding up or dissolution, then the other Party may shall have the right to terminate this Agreement effective immediately upon by providing written notice to such Partyin accordance with Section 11.4.

Termination for Bankruptcy. In This Agreement may be terminated at any time during the event that Term by either Party files for protection under bankruptcy lawsupon the other Party’s filing or institution of bankruptcy, makes reorganization, liquidation or receivership proceedings, or upon an assignment of a substantial portion of the assets for the benefit of creditorscreditors by the other Party; provided, appoints or suffers appointment however, that in the case of a receiver or trustee over its property, files a petition under any involuntary bankruptcy proceeding such right to terminate shall only become effective if the Party consents to the involuntary bankruptcy or insolvency act or has any such petition filed against it which proceeding is not discharged dismissed within sixty ninety (6090) days of after the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In the event that This Agreement will terminate immediately, upon written notice, where (a) either Party files for protection under bankruptcy laws, makes an assignment for the benefit party is declared insolvent or adjudged bankrupt by a court of creditors, appoints competent jurisdiction; or suffers appointment of a receiver or trustee over its property, files (b) a petition under any for bankruptcy or insolvency act reorganization or has any such petition an arrangement with creditors is filed by or against it which that party and is not discharged dismissed within sixty (60) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Partydays.

Termination for Bankruptcy. In the event that This Agreement will terminate automatically if all or a substantial portion of either Party files for protection under bankruptcy laws, makes Party’s assets are transferred to an assignment assignee for the benefit of creditors, appoints or suffers appointment of to a receiver or to a trustee over its propertyin bankruptcy, files a petition proceeding is commenced by or against the Party for relief under any bankruptcy or insolvency act or has any similar laws and such petition filed against it which proceeding is not discharged dismissed within sixty (60) days of the filing thereofdays, then the other or a Party may terminate this Agreement effective immediately upon written notice to such Partyis adjudged bankrupt.

Termination for Bankruptcy. In Either party may terminate this Agreement upon giving written notice to the other party in the event that either Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, other party files a petition under any bankruptcy in bankruptcy, or insolvency act in the event that all or has any part of the other party's assets are assigned to a trustee or receiver, or if an involuntary petition is filed by a third party against the other party and the other party does not resolve such petition filed against it which is not discharged in its favor within sixty (60) days of after the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In Either Party may, immediately upon written notice, terminate this Agreement if the event that either other Party files for protection under bankruptcy lawsa petition in bankruptcy, has filed against it an involuntary petition in bankruptcy, makes an assignment for the benefit of creditors, appoints has a trustee or suffers appointment receiver appointed for any or all of a receiver its assets, is insolvent or trustee over fails or is unable to pay its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Partydebts when due.

Termination for Bankruptcy. In the event that either Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) 90 days of the filing thereofsuch action, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In Either party may suspend performance and/or terminate this Agreement if the event that either Party files for protection under bankruptcy laws, other party makes an any assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act creditors or has any such petition under bankruptcy law filed against it it, which petition is not discharged dismissed within sixty (60) days of the filing such filing, or has a trustee or receiver appointed for its business or assets or any party thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In the event that If either Party files for protection under bankruptcy laws, makes an a general assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over all or substantially all of its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged dismissed, discharged, bonded or stayed within sixty (60) days of [**] after the filing thereof, then the other Party may terminate this Agreement in its entirety, effective immediately upon written notice to such Party.

Termination for Bankruptcy. In the event that If either Party by voluntary or involuntary action goes into liquidation, dissolves or files a petition for protection under bankruptcy lawsor suspension of payments, is adjudicated bankrupt, has a receiver or trustee appointed for its property or estate, becomes insolvent or makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) days of the filing thereof, then the other Party may shall be entitled by notice in writing to such Party to terminate this Agreement effective immediately upon written notice to such Partyforthwith.

Termination for Bankruptcy. In This Agreement may be terminated at any time during the event that Term by either Party files for protection under bankruptcy lawsupon the other Party’s filing or institution of bankruptcy, makes reorganization, liquidation or receivership proceedings, or upon an assignment of a substantial portion of the assets for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) days of the filing thereof, then creditors by the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In the event that If either Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty one hundred twenty (60120) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In the event that either Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) days of the filing thereof, then the other Party may shall have the right, but not the obligation, to terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In the event that either If any Party hereto files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) days [*****] of the filing thereof, then the respective other Party may terminate this Agreement effective immediately upon written notice to such the insolvent Party.

Termination for Bankruptcy. In Either Party may terminate this Agreement immediately upon written notice by one Party to the event that either other, if the other Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of has a receiver appointed for it or trustee over any of its propertyassets, or files or has filed against it a petition under the Bankruptcy Code of 1978, as amended, 11 U.S.C. § 101 et seq., or under any bankruptcy or state insolvency act or has any laws providing for the relief of debtors, and such petition filed against it which is not discharged dismissed within sixty (60) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Partyits filing.

Termination for Bankruptcy. In Either party may, to the extent permitted by applicable law, terminate this Agreement immediately upon written notice to the other party in the event that either Party the other party has a petition in bankruptcy filed against it that is not dismissed within 60 days of such filing, files for protection under bankruptcy lawsa petition in bankruptcy, or makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In Either party may immediately terminate this Agreement if the event that either Party files for protection under bankruptcy lawsother party (or in the case of XX Xxxxxxxxx, a XX Xxxxxxxxx Affiliate), dissolves or liquidates, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a voluntary petition under any bankruptcy of bankruptcy, or insolvency act is subject to an involuntary petition in bankruptcy, or has any is adjudicated bankrupt or insolvent, and such assignment, petition filed against it which or adjudication is not discharged resolved or dismissed within sixty (60) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Partydays.

Termination for Bankruptcy. In Either Party may terminate this Agreement immediately without further action if the event that either other Party files a petition in bankruptcy, enters into an agreement with its creditors, applies for protection under bankruptcy lawsor consents to the appointment of a receiver, administrative receiver, trustee or administrator for its affairs, makes an assignment for the benefit of creditors, appoints suffers or suffers appointment permits the entry of a receiver any order adjudicating it to be bankrupt or trustee over its property, files a petition under any bankruptcy or insolvency act or has any insolvent where such petition filed against it which order is not discharged within sixty thirty (6030) days days, or takes any equivalent or similar action in consequence of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Partydebt in any jurisdiction.

Termination for Bankruptcy. In the event that If either Party files for protection under bankruptcy laws, makes an a general assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over all or substantially all of its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged dismissed, discharged, bonded or stayed within sixty ninety (6090) days of after the filing thereof, then the other Party may terminate this License Agreement in its entirety, effective immediately upon written notice to such Party. In connection therewith, the provisions of Section 7.1.6 shall apply.

Termination for Bankruptcy. In Either Party may terminate this Agreement immediately by delivery of written notice to the other Party in the event that either the other Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints creditors or suffers appointment of a receiver or trustee over its property, files has a petition under any in bankruptcy filed for or insolvency act or has any such petition filed against it which that is not discharged dismissed within sixty (60) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Partyfiling.

Termination for Bankruptcy. In the event that either If a Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In If the event that either other Party files for protection under bankruptcy lawsa petition in bankruptcy, files a petition seeking reorganization, arrangement, composition or similar relief, or makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver if any involuntary petition or trustee over its property, files a petition proceeding under any bankruptcy or insolvency act laws is instituted against such other Party and not stayed, enjoined or has any such petition filed against it which is not discharged within sixty thirty (6030) days of the filing thereofdays, then this First Restated Agreement may be terminated by either Party immediately, by giving written notice to the other Party may terminate this Agreement effective immediately upon written notice to such Partythat effect.

Termination for Bankruptcy. In the event that If either Party files for protection under bankruptcy laws, makes an a general assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over all or substantially all of its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged dismissed, discharged, bonded or stayed within sixty ninety (6090) days of after the filing thereof, then the other Party may terminate this Agreement in its entirety, effective immediately upon written notice to such Party.

Termination for Bankruptcy. In the event that either Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which that is not discharged within sixty (60) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In If the event that either other Party files for protection under bankruptcy lawsa petition in bankruptcy, files a petition seeking reorganization, arrangement, composition or similar relief, or makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver if any involuntary petition or trustee over its property, files a petition proceeding under any bankruptcy or insolvency act laws is instituted against such other Party and not stayed, enjoined or has any such petition filed against it which is not discharged within sixty (60) days of the filing thereof[ ], then this Agreement may be terminated by either Party immediately, by giving written notice to the other Party may terminate this Agreement effective immediately upon written notice to such Partythat effect.

Termination for Bankruptcy. In the event that If either Party files for protection under bankruptcy laws, makes an a general assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over all or substantially all of its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged dismissed, discharged, bonded or stayed within sixty ninety (6090) days of after the filing thereof, then the other Party may terminate this Agreement in its entirety effective immediately upon written notice to such Party.

Termination for Bankruptcy. In Either party may terminate this Agreement at any time upon giving written notice to the event that either Party files for protection under bankruptcy lawsother party, if the other party is adjudicated as bankrupt, becomes insolvent, suffers permanent or temporary court-appointed receivership of substantially all of its property, makes an a general assignment for the benefit of creditors, appoints or suffers appointment the filing of a receiver voluntary or trustee over its property, files a involuntary bankruptcy petition under any bankruptcy or insolvency act or has any such petition filed against it which that is not discharged dismissed within sixty thirty (6030) days of the after filing thereof(collectively, then the other Party may terminate this Agreement effective immediately upon written notice to such Party“Insolvency Event”).

Termination for Bankruptcy. In This Agreement may be terminated by a party in the event that either Party the other party files for protection under bankruptcy lawsa petition in bankruptcy, is adjudicated a bankrupt, makes an assignment for the benefit of its creditors, appoints or suffers appointment of a receiver otherwise seeks relief under or trustee over its propertypursuant to any bankruptcy, files insolvency or reorganization statute or proceeding, or if a petition under any in bankruptcy or insolvency act or has any such petition is filed against it which is not discharged dismissed within sixty (60) days or proceedings are taken to liquidate the assets of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Partyparty.

Termination for Bankruptcy. In the event that either Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty ninety (6090) days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In the event that either Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty ninety (6090) days of the filing thereofsuch action, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In the event that either Party files for protection under bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) calendar days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.

Termination for Bankruptcy. In the event that either a Party files becomes bankrupt or insolvent, a receiver or a trustee is appointed for protection under bankruptcy lawsthe property or estate of such Party and said receiver or trustee is not removed within 60 days, or such Party makes an assignment for the benefit of its creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under and whether any bankruptcy or insolvency act or has any such petition filed against it which is not discharged within sixty (60) days of the filing thereofaforesaid events be the outcome of the voluntary act of that Party, then or otherwise, the other Party may shall be entitled to terminate this Agreement effective immediately upon forthwith by giving written notice to such Party.

Termination for Bankruptcy. In If the event that either other Party files for protection under bankruptcy lawsa petition in bankruptcy, files a petition seeking reorganization, arrangement, composition or similar relief, or makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver if any involuntary petition or trustee over its property, files a petition proceeding under any bankruptcy or insolvency act laws is instituted against such other Party and not stayed, enjoined or has any such petition filed against it which is not discharged within sixty thirty (6030) days of the filing thereofdays, then this Agreement may be terminated by either Party immediately, by giving written notice to the other Party may terminate this Agreement effective immediately upon written notice to such Partythat effect.