Common use of Termination for Insolvency or Bankruptcy Clause in Contracts

Termination for Insolvency or Bankruptcy. Either party may immediately terminate this Agreement and any Purchase Order by giving written notice to the other party in the event of (i) the liquidation or insolvency of the other party, (ii) the appointment of a receiver or similar officer for the other party, (iii) an assignment by 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 (v) the filing of a meritorious petition in bankruptcy by or against the other party under any bankruptcy or debtors' law for its relief or reorganization.

Termination for Insolvency or Bankruptcy. Either party may immediately terminate this Agreement and any Purchase Order by giving written notice to the other party in the event of any of the following: (i) the liquidation or insolvency of the other party, ; (ii) the appointment of a receiver or similar officer for the other party, ; (iii) an assignment by the other party for the benefit of all or substantially all of its creditors, ; (iv) the entry by the other party into an agreement for the composition, extension, ; (v) extension or readjustment of all or substantially all of its obligations, ; or (vvi) the filing of a meritorious petition in bankruptcy by or against the other party under any bankruptcy or debtors' debtors law for its relief or reorganization.

Termination for Insolvency or Bankruptcy. Either party may immediately terminate this Agreement and any Purchase Order by giving written notice to the other party in the event of (i) the liquidation or insolvency of the other party, (ii) the appointment of a receiver or similar officer for the other party, (iii) an assignment by 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 (v) the filing of a meritorious petition in bankruptcy by or against the other party under any bankruptcy or debtors' law for its relief or of reorganization.

Termination for Insolvency or Bankruptcy. Either party may immediately terminate this Agreement and any Purchase Order purchase order by giving written notice to the other party in the event of (i) the liquidation or insolvency of the other partypatty, (ii) the appointment of a receiver recexxxx or similar officer for the other partypatty, (iii) an assignment by the other xxxxx party for the benefit of all an or substantially all of its creditorscredits, (iv) entry by the other party into an agreement for the composition, extension, or readjustment of all or substantially all of its obligations, or (v) the filing of a meritorious petition in bankruptcy by or against the other party under 'Under any bankruptcy or debtors' debtor's law for its relief or reorganization.

Termination for Insolvency or Bankruptcy. Either party may immediately terminate this Agreement and any Purchase Order by giving written notice to the other party in the event of any of the following: (i) the liquidation or insolvency of the other party, ; (ii) the appointment of a receiver or similar officer for the other party, ; (iii) an assignment by the other party for the benefit of all or substantially all of its creditors, ; (iv) the entry by the other party into an agreement for the composition, extension, ; (v) extension or readjustment of all or substantially all of its obligations, ; or (vvi) the filing of a meritorious petition in bankruptcy by or against the other party under any bankruptcy or debtors' law for its relief or reorganization.

Termination for Insolvency or Bankruptcy. Either party may immediately terminate this Agreement and any Purchase Order by giving written notice to the other party in the event of (i) the liquidation or insolvency of the other party, (ii) the appointment of a receiver or similar officer for the other party, (iii) an assignment by 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 (v) the filing of a meritorious petition in bankruptcy by or against the other party under any bankruptcy or debtors' law for its relief or reorganizationreorganization which is not dismissed within sixty (60) days of its filing.