Common use of Termination for Insolvency or Breach Clause in Contracts

Termination for Insolvency or Breach. (a) Without limiting any other rights or remedies the Company may have against the Supplier under this Agreement or at law, the Company may terminate this Agreement effective immediately by giving notice to the Supplier if: (i) the Supplier breaches a provision of this Agreement where that breach is not capable of remedy; (ii) the Supplier breaches any provision of the Agreement where that breach is capable of remedy and fails to remedy the breach within the period specified in the Company’s written notice to the Supplier; or (iii) an event of breach specified in clause 18(b) happens to the Supplier. (b) The events of breach include: (i) the Supplier being a corporation, there is a change of control of the Supplier; (ii) the Supplier disposes of the whole or any part of its assets, operations or business other than in the ordinary course of business, ceases to carry on business or ceases to be able to pay its debts as they become due; (iii) the Supplier being a company enters into liquidation or has a controller or managing controller or liquidator or administrator appointed; (iv) the Supplier being a natural person is declared bankrupt or assigns his or her estate for the benefit of creditors; or (v) any analogous event occurs. (c) If this Agreement is terminated under this clause 18: (i) the parties are relieved from future performance, without prejudice to any right of action that has accrued at the date of termination; (ii) rights to recover damages are not affected; and (iii) where, before termination of the Contract under this clause, the Company has made any payment in advance on account of the Price to the Supplier, the total amount of that payment must be repaid by the Supplier to the Company on termination and if not repaid is recoverable by the Company from the Supplier as a debt. (iv) the Supplier indemnifies the Company in respect of any loss it incurs in purchasing substitute Goods and/or Services from other suppliers.

Termination for Insolvency or Breach. (a) Without limiting any other rights or remedies the Company may have against the Supplier under this Agreement or at law, the Company may terminate this Agreement effective immediately by giving notice to the Supplier if: (i) the Supplier breaches a provision of this Agreement where that breach is not capable of remedy; (ii) the Supplier breaches any provision of the Agreement where that breach is capable of remedy and fails to remedy the breach within the period specified in the Company’s written notice to the Supplier; or (iii) an event of breach specified in clause 18(b) happens to the Supplier. (b) The events of breach include: (i) the Supplier being a corporation, there is a change of control of the Supplier; (ii) the Supplier disposes of the whole or any part of its assets, operations or business other than in the ordinary course of business, ceases to carry on business or ceases to be able to pay its debts as they become due; (iii) the Supplier being a company enters into liquidation or has a controller or managing controller or liquidator or administrator appointed; (iv) the Supplier being a natural person is declared bankrupt or assigns his or her estate for the benefit of creditors; or (v) any analogous event occurs. (c) If this Agreement is terminated under this clause 18: (i) the parties are relieved from future performance, without prejudice to any right of action that has accrued at the date of termination; (ii) rights to recover damages are not affected; and (iii) whereWhere, before termination of the Contract under this clause, the Company has made any payment in advance on account of the Price to the Supplier, the total amount of that payment must be repaid by the Supplier to the Company on termination and if not repaid is recoverable by the Company from the Supplier as a debt. (iv) the Supplier indemnifies the Company in respect of any loss it incurs in purchasing substitute Goods and/or Services from other suppliers.

Termination for Insolvency or Breach. 12.1 Without prejudice to its rights at common law, the University may, by notice in writing to the Supplier, terminate the Contract if the Supplier: (a) Without limiting any other rights becomes bankrupt or remedies the Company may have against the Supplier under this Agreement or at law, the Company may terminate this Agreement effective immediately by giving notice to the Supplier if: (i) the Supplier breaches a provision of this Agreement where that breach is not capable of remedy; (ii) the Supplier breaches any provision of the Agreement where that breach is capable of remedy and fails to remedy the breach within the period specified in the Company’s written notice to the Supplierinsolvent; or (iii) an event of breach specified in clause 18(b) happens to the Supplier. (b) The events of breach include: (i) the Supplier being a corporationpartnership, there is a change of control of the Supplier; (ii) the Supplier disposes of the whole or any part becomes dissolved; makes an assignment of its assets, operations or business other than in the ordinary course of business, ceases to carry on business or ceases to be able to pay its debts as they become due; (iii) the Supplier being a company enters into liquidation or has a controller or managing controller or liquidator or administrator appointed; (iv) the Supplier being a natural person is declared bankrupt or assigns his or her estate for the benefit of creditorscreditors or enters into any arrangement or composition with its creditors or has a receiver or receiver and manager appointed; goes into liquidation or passes a resolution to go into liquidation, otherwise than for the purpose of reconstruction; or becomes subject to any petition or proceedings in a court for its compulsory winding-up or becomes subject to supervision of a court either voluntarily or otherwise; or suffers any execution against its assets; or (vb) fails: (i) to commence performance of the Contract or to proceed at a rate of progress so as to ensure the due and proper completion of the Contract; or (ii) to take action to remedy a breach of any analogous event occurs.other obligation under the Contract within seven (7) days of being given notice by the University requiring the Supplier to remedy the breach; or to remedy a breach referred to in this paragraph within fourteen (14) days of being given the notice referred to; or (c) assigns its rights otherwise than in accordance with the requirements of the Contract. 12.2 Where, before termination of the Contract under clause 12.1, the University has made any payment in advance on account of the contract price to the Supplier, the total amount of that payment must be repaid by the Supplier to the University on termination and, if not repaid is recoverable by the University from the Supplier as a debt. 12.3 If this Agreement the Contract is terminated under this clause 18clause: (ia) the parties are relieved from future performance, without prejudice to any right of action that has accrued at the date of termination; (iib) rights to recover damages are not affected; and (iii) where, before termination of the Contract under this clause, the Company has made any payment in advance on account of the Price to the Supplier, the total amount of that payment must be repaid by the Supplier to the Company on termination and if not repaid is recoverable by the Company from the Supplier as a debt. (ivc) the Supplier indemnifies must indemnify the Company University in respect of any loss it incurs in purchasing substitute similar Goods and/or Services from other suppliers.

Termination for Insolvency or Breach. (a) 13.1 Without limiting any other prejudice to its rights or remedies the Company may have against the Supplier under this Agreement or at common law, the Company may terminate this Agreement effective immediately Peninsula Health may, by giving notice in writing to the Supplier ifSupplier, terminate the Contract if the Supplier: a. becomes bankrupt or insolvent; being a partnership, becomes dissolved; makes an assignment of its estate for the benefit of creditors or enters into any arrangement or composition with its creditors or has a receiver or receiver and manager appointed; goes into liquidation or passes a resolution to go into liquidation, otherwise than for the purpose of reconstruction; or becomes subject to any petition or proceedings in a court for its compulsory winding-up or becomes subject to supervision of a court either voluntarily or otherwise; or suffers any execution against its assets; or b. fails: (i) to commence performance of the Supplier breaches Contract or to proceed at a provision rate of this Agreement where that breach is not capable progress so as to ensure the due and proper completion of remedy; the Contract; or (ii) to take action to remedy a breach of any other obligation under the Contract within 7 days of being given notice by Peninsula Health requiring the Supplier breaches any provision of the Agreement where that breach is capable of remedy and fails to remedy the breach; or to remedy a breach referred to in this paragraph within 14 days of being given the period specified notice referred to; or c. assigns its rights otherwise than in accordance with the Company’s written notice requirements of the Contract. 13.2 Where, before termination of the Contract under clause 13.1, Peninsula Health has made any payment in advance on account of the contract price to the Supplier; or (iii) an event , the total amount of breach specified in clause 18(b) happens that payment must be repaid by the Supplier to Peninsula Health on termination and, if not repaid is recoverable by Peninsula Health from the SupplierSupplier as a debt. (b) The events of breach include: (i) 13.3 If the Supplier being a corporation, there is a change of control of the Supplier; (ii) the Supplier disposes of the whole or any part of its assets, operations or business other than in the ordinary course of business, ceases to carry on business or ceases to be able to pay its debts as they become due; (iii) the Supplier being a company enters into liquidation or has a controller or managing controller or liquidator or administrator appointed; (iv) the Supplier being a natural person is declared bankrupt or assigns his or her estate for the benefit of creditors; or (v) any analogous event occurs. (c) If this Agreement Contract is terminated under this clause 18clause: (i) a. the parties are relieved from future performance, without prejudice to any right of action that has accrued at the date of termination; (ii) b. rights to recover damages are not affected; and (iii) where, before termination of the Contract under this clause, the Company has made any payment in advance on account of the Price to the Supplier, the total amount of that payment must be repaid by c. the Supplier to the Company on termination and if not repaid is recoverable by the Company from the Supplier as a debt. (iv) the Supplier indemnifies the Company must indemnify Peninsula Health in respect of any loss it incurs may incur in purchasing substitute Goods and/or Services similar goods or services from other suppliers.