Common use of Termination for Financial Difficulty Clause in Contracts

Termination for Financial Difficulty. The PA Parties may, without prejudice to any other rights which the PA Parties or either of them may have, terminate this Agreement immediately if: (a) events have occurred or circumstances exist which, in the opinion of the PA Parties, may result in or have resulted in insolvency or the control of the Independent Certifier passing to another body or corporation; or (b) the Independent Certifier has communications with its creditors with a view to entering into, or enters into, any form of compromise, arrangement or moratorium of any debts whether formal or informal, with its creditors.

Termination for Financial Difficulty. ‌ The PA Parties may, without prejudice to any other rights which the PA Parties or either of them may have, terminate this Agreement immediately if: (a) events have occurred or circumstances exist which, in the opinion of the PA Parties, may result in or have resulted in insolvency or the control of the Independent Certifier passing to another body or corporation; or (b) the Independent Certifier has communications with its creditors with a view to entering into, or enters into, any form of compromise, arrangement or moratorium of any debts whether formal or informal, with its creditors.

Termination for Financial Difficulty. The PA Parties may, without prejudice to any other rights which the PA Parties or either of them may have, jointly terminate this Agreement immediately if: (a) events have occurred or circumstances exist which, in the opinion of the PA Parties, may result in or have resulted in insolvency or the control of the Independent Certifier passing to another body or corporation; or (b) the Independent Certifier has communications with its creditors with a view to entering into, or enters into, any form of compromise, arrangement or moratorium of any debts whether formal or informal, with its creditors.

Termination for Financial Difficulty. The PA Parties may, without prejudice to any other rights which the PA Parties or either of them may have, terminate this IC Agreement immediately if: (a) events have occurred or circumstances exist which, in the opinion of the PA Parties, may result in or have resulted in insolvency or the control of the Independent Certifier passing to another body or corporation; or (b) the Independent Certifier has communications with its creditors with a view to entering into, or enters into, any form of compromise, arrangement or moratorium of any debts whether formal or informal, with its creditors.

Termination for Financial Difficulty. The PA Parties may, without prejudice to any other rights which of the PA Parties or either of them may havethem, jointly terminate this Agreement immediately if: (a) events have occurred or circumstances exist which, in the opinion of the PA Parties, may result in or have resulted in the insolvency of the Independent Certifier or the control of the Independent Certifier passing to another body or corporationPerson; or (b) the Independent Certifier has communications with its creditors with a view to entering into, or enters into, any form of compromise, arrangement or moratorium of any debts whether formal or informal, with its creditors.