Common use of Termination for Insolvency or Bankruptcy Clause in Contracts

Termination for Insolvency or Bankruptcy. Either party may immediately terminate this Agreement upon written notice to the other party in the event that: (a) the other party is declared insolvent or bankrupt by a court of competent jurisdiction; (b) a voluntary petition of bankruptcy is filed in any court of competent jurisdiction by such other party; or (c) this Agreement is assigned by such other party for the benefit of creditors.

Termination for Insolvency or Bankruptcy. Either party may immediately terminate In the event any Party is legally declared in bankruptcy, insolvency, moratorium of payment, reorganization or liquidation, or if either Party makes any assignment for the benefit of its creditors, then this Agreement upon may be, to the extent permitted under applicable law, terminated forthwith by the other Party through written notice to the other party in Party subject to proceedings covered by this Section of the event that: (a) the other party is declared insolvent or bankrupt by a court of competent jurisdiction; (b) a voluntary petition of bankruptcy is filed in any court of competent jurisdiction by such other party; or (c) this Agreement is assigned by such other party for the benefit of creditorsAgreement.

Termination for Insolvency or Bankruptcy. Either party Party may immediately terminate this Agreement immediately upon written notice to the other party Party in the event that: (a) of the other party is declared insolvent Party’s bankruptcy or bankrupt insolvency, or the proper commencement of proceedings under bankruptcy or insolvency code or similar law, whether voluntary or involuntary, by a court of competent jurisdiction; (b) a voluntary petition of bankruptcy is filed in any court of competent jurisdiction by or against such other party; Party, or (c) this Agreement is assigned by in the event that such other party for the benefit of creditorsParty is dissolved or liquidated.

Termination for Insolvency or Bankruptcy. Either party may immediately terminate this Agreement upon immediately following written notice to the other party in if the event that: other party (a) ceases to do business in the other party normal course; (b) becomes or is declared insolvent or bankrupt by a court of competent jurisdictionbankrupt; (bc) a is the subject of any proceeding related to its liquidation or insolvency (whether voluntary petition of bankruptcy is filed in any court of competent jurisdiction by such other partyor involuntary); or (cd) this Agreement is assigned by such other party makes an assignment for the benefit of creditors.

Termination for Insolvency or Bankruptcy. Either party Party may immediately terminate this Agreement upon written notice to the other party Party in the event that: (ai) the other party Party is declared insolvent or bankrupt by a court of competent jurisdiction; (bii) a voluntary petition of bankruptcy or reorganization is filed in any court of competent jurisdiction by such other partyParty; or (ciii) this Agreement is assigned by such other party Party for the benefit of creditors; or (iv) an involuntary petition of bankruptcy or ​ ​ reorganization is filed against the other Party or its assets and such petition is not dismissed within [***] of filing.

Termination for Insolvency or Bankruptcy. Either party may immediately terminate this Agreement upon and any purchase orders by giving written notice to the other party in the event thatof: (ai) The liquidation or insolvency of the other party is declared insolvent or bankrupt by a court of competent jurisdiction; (b) a voluntary petition of bankruptcy is filed in any court of competent jurisdiction by such other party; (ii) The appointment of a receiver or similar officer for the other party; (ciii) this Agreement is assigned An assignment by such the other party for the benefit of all or substantially all of its creditors.; (iv) Entry by the other party into an agreement for the composition, extension, or readjustment of all or substantially all of its obligations; or,

Termination for Insolvency or Bankruptcy. Either party Party may immediately terminate this Agreement upon written in its entirety but not in part effective on notice to the other party in the event that: Party (a) upon the other party is declared insolvent liquidation, dissolution, winding up, insolvency, bankruptcy, or bankrupt by a court filing of competent jurisdiction; (b) a voluntary any petition of bankruptcy is filed in any court of competent jurisdiction by such other party; or (c) this Agreement is assigned by such other party for the benefit of creditors.therefor,

Termination for Insolvency or Bankruptcy. Either party Party may immediately terminate this Agreement upon written notice to the other party Party in the event that: (ai) the other party Party is declared insolvent or bankrupt by a court of competent jurisdiction; (bii) a voluntary petition of bankruptcy or reorganization is filed in any court of competent jurisdiction by such other partyParty; or (ciii) this Agreement is assigned by such other party Party for the benefit of creditors; or (iv) an involuntary petition of bankruptcy or reorganization is filed against the other Party or its assets and such petition is not dismissed within [***] days of filing.