Common use of Termination for Cause, Force Majeure, and Bankruptcy Clause in Contracts

Termination for Cause, Force Majeure, and Bankruptcy. If either Party breaches any of the terms or conditions of this Agreement and such breach is not remedied, or the breaching Party has not initiated reasonable steps to remedy the breach to the non-breaching Party’s reasonable satisfaction, within [ ** ] days after receipt by the breaching Party of a written notice thereof from the non-breaching Party, then the non-breaching Party may terminate this Agreement upon notice to the breaching Party immediately after the expiration of the [ ** ] day period. Either Party may terminate this Agreement if the other Party is affected by an event of Force Majeure that lasts longer than [ ** ] days, which termination will be effective upon [ ** ] days written notice to the affected 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, files a petition under any bankruptcy or insolvency act of has any such petition filed against it which is not discharged within [ ** ] days of the filing thereof, then the other Party may terminate this Agreement effective immediately upon written notice to such Party.