Termination for Financial Instability. The State may terminate this contract by written notice to Contractor if a petition in bankruptcy or similar proceeding has been filed by or against the Contractor.
Termination for Financial Instability. An Agency may terminate if the Contractor fails to timely pay its subcontractors, files a petition in bankruptcy or similar action, or the Agency finds other evidence of the Contractor’s financial instability.
Termination for Financial Instability. If Supplier becomes Insolvent, Embarq may terminate this Agreement without liability with at least 30 days’ notice to Supplier. “
Termination for Financial Instability. This Agreement may be terminated by a notice in writing with immediate effect, without prior recourse to any judicial or other authority, given by the other party to the party in question upon the occurrence of any of the following events:
(a) the party becomes bankrupt, insolvent, or has its business placed in the hand of a receiver, assignee or trustee, whether by voluntary act or otherwise; or
(b) the party enters into an arrangement for the benefit of its creditors on account of such party’s inability to make any required payments to such creditors; or
(c) an order is made or a resolution is passed for the winding up of the other party, or an order is made for the appointment of an administrator to manage the affairs, business and property of the other party, or such an administrator is appointed, or documents are filed with the court for the appointment of an administrator, or notice of intention to appoint an administrator is given by the * [***]: Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. other party or its directors or by a qualifying charge holder, or a receiver is appointed of any of the other party’s assets or undertaking, or circumstances arise which entitle the court or a creditor to appoint a receiver or manager or which entitle the court to make a winding-up order, or the other party takes or suffers any similar or analogous action in consequence of the debt; or
(d) the party suffers severe financial distress or execution of the like levied upon any of its goods or effects; or
(e) the party ceases, or threatens to cease, to carry on business.
Termination for Financial Instability. If (a) Amdocs does not meet its undisputed material obligations, including judgments, to third parties as those obligations become due after a final judgment, (b) Amdocs' stock is involuntarily removed or delisted from a trading exchange due to the financial situation of Amdocs, Sprint may terminate the Agreement on [**] days notice to Amdocs and pay Amdocs [**] percent ([**]%) of any Exit Fee that would have applied if Sprint elected to terminate the Agreement pursuant to Section 6.2.1 (Termination for Convenience) as determined in accordance with Schedule I (Exit Fee Computation) and Schedule I1 (Exit Fee Computation for Additional Services) ("[**] Exit Fee Termination For Financial Instability"). Alternatively, if the events described in clause (a) or (b) above occur, Sprint may submit the matter to the Steering Committee, which shall meet within [**] business days of the referral of the matter to the Steering Committee by Sprint to determine whether such events shall give rise to the right for Sprint to terminate the Agreement promptly on [**] days notice without any requirement to pay Amdocs any Exit Fee or other termination fees ("[**] Exit Fee Termination For Financial Instability") If the Steering Committee determines that such events do give rise to a right to [**] Exit Fee Termination For Financial Instability, Sprint may elect to exercise such right any time after such decision of the Steering Committee. If the Steering Committee determines that such events do not give rise to a right to [**] Exit Fee Termination For Financial Instability, then the matter shall be submitted to arbitration pursuant to Section 13.6 (Governing Law and Jurisdiction). If the arbitration determines that such events do give rise to a right to [**] Exit Fee Termination For Financial Instability, Sprint may elect to exercise such right any time after such decision of the arbitration. For avoidance of doubt, Sprint may exercise its right to the [**] Exit Fee Termination For Financial Instability at any time during or after the commencement of the processes described in this Section related to the determination of whether there exists a right to [**] Exit Fee Termination For Financial Instability.
Termination for Financial Instability. If Supplier becomes Insolvent, Sprint may terminate this Agreement without liability with at least [* * *] days’ notice to Supplier. “
Termination for Financial Instability. 71 3.9.5 Termination for Failure to Disclose Records..................................................... 72 3.9.6
Termination for Financial Instability. Company shall have the right to terminate this Agreement or any SOW without payment of any termination for convenience fees or any other similar charge or not-then-accrued liability to Vendor in the event that (i) Vendor’s cash plus Unused Borrowing Capacity is reported as less than $5,000,000 (as reported in Vendor’s most recent securities filing with the Securities and Exchange Commission) or (ii) Vendor’s reported quarterly revenues are less than $56,250,000. For purposes hereof, “Unused Borrowing Capacity” shall mean the aggregate amount of Vendor’s outstanding credit facility(s) less borrowings by and standby letters of credit issued on behalf of Vendor under such credit facility or facilities
Termination for Financial Instability. FSSA may terminate the Contract immediately upon the occurrence of any of the following events: The Contractor becomes financially unstable to the point of threatening the ability of the State to obtain the services provided for under the Contract; The Contractor ceases to conduct business in normal course; The Contractor makes a general assignment for the benefit of creditors; or The Contractor suffers or permits the appointment of a receiver for its business or assets. The State may, at its option, immediately terminate the Contract effective at the close of business on the date specified. In the event the State elects to terminate the Contract under this provision, the Contractor shall be notified in writing, by either certified or registered mail, specifying the date of termination. In the event of the filing of a petition in bankruptcy by or against a principal subcontractor, the Contractor shall immediately advise the Contract Administrator as specified in the Contract between the State and the Contractor. The Contractor shall ensure that all tasks related to the subcontract are performed in accordance with the terms of the Contract.
Termination for Financial Instability. In the event that the MCO becomes financially unstable to the point of threatening the ability of the State to obtain the services provided for under the Contract, ceases to conduct business in normal course, makes a general assignment for the benefit of creditors, or suffers or permits the appointment of a receiver for its business or assets, the State may, at its option, immediately terminate this Contract effective at the close of business on the date specified. In the event the State elects to terminate the contract under this provision, the MCO shall be notified in writing, by either certified or registered mail, specifying the date of termination. The MCO shall submit a written waiver of the MCO's rights under the federal bankruptcy laws. In the event of the filing of a petition in bankruptcy by or against a principal subcontractor, the MCO shall immediately so advise the Contract Administrator as specified in the contract between the State and the
