Termination for Cause by Either Party. This Agreement may be terminated by either Party immediately upon notice to the other party in the event of any of the following: a. the other party makes a general assignment for the benefit of its creditors, or a receiver or similar officer is appointed to take charge of any of the other party’s assets; b. the other party ceases to carry on its business or operations; or c. a bankruptcy or similar petition is filed by or against the other party, and in the case of an involuntary petition, the proceeding is not dismissed within sixty (60) days.
Appears in 2 contracts
Samples: Contract Manufacturing Agreement, Manufacturing Agreement (Salient Surgical Technologies, Inc.)
Termination for Cause by Either Party. This Agreement may be terminated by either Party party immediately upon notice to the other party in the event of any of the following:
a. the other party makes a general assignment for the benefit of its creditors, or a receiver or similar officer is appointed to take charge of any of the other party’s assets;
b. the other party ceases to carry on its business or operations; or
c. a bankruptcy or similar petition is filed by or against the other party, and in the case of an involuntary petition, the proceeding is not dismissed within sixty (60) days.
Appears in 2 contracts
Samples: Contract Manufacturing Agreement, Contract Manufacturing Agreement (Salient Surgical Technologies, Inc.)
