Common use of Termination for Contractor Insolvency, Bankruptcy, Instability of Funds Clause in Contracts

Termination for Contractor Insolvency, Bankruptcy, Instability of Funds. The Contractor's insolvency or the filing of a petition in bankruptcy by or against the Contractor shall constitute grounds for termination for cause. If the SCDHHS determines the Contractor has become financially unstable, SCDHHS will immediately terminate this Contract upon written notice to the Contractor effective the close of business on the date specified.

Termination for Contractor Insolvency, Bankruptcy, Instability of Funds. The Contractor's insolvency or the filing of a petition in bankruptcy by or against the Contractor shall constitute grounds for termination for cause. If the SCDOI and SCDHHS determines determine the Contractor has become financially unstableunstable and/or the Contractor's license is revoked, SCDHHS will immediately terminate this Contract upon written notice to the Contractor effective the close of business on the date specified.

Termination for Contractor Insolvency, Bankruptcy, Instability of Funds. The Contractor's insolvency or the filing of a petition in bankruptcy by or against the Contractor shall constitute grounds for termination of this Contract for cause. If the SCDHHS determines SCDOI and/or the Department determine the Contractor has become financially unstableunstable and/or the Contractor's license is revoked, SCDHHS the Department will immediately terminate this Contract upon written notice to the Contractor effective at the close of business on the date specified.