Common use of Termination for Insolvency or Breach Clause in Contracts

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) 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 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 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 the Contract is terminated under this clause: (a) the parties are relieved from future performance, without prejudice to any right of action that has accrued at the date of termination; (b) rights to recover damages are not affected; and (c) the Supplier must indemnify the University in respect of any loss it incurs in purchasing similar Goods and/or Services from other suppliers.

Termination for Insolvency or Breach. 12.1 (a) Without prejudice to its limiting any other rights or remedies the Company may have against the Supplier under this Agreement or at common law, the University may, 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 writing the Company’s written notice to the Supplier, terminate the Contract if ; or (iii) an event of breach specified in clause 18(b) happens to the Supplier. (b) The events of breach include: (ai) becomes 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 insolvent; being a partnership, becomes dissolved; makes an assignment of its assigns his or her 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 assetscreditors; or (bv) 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 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; oranalogous event occurs. (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 the Contract this Agreement is terminated under this clauseclause 18: (ai) the parties are relieved from future performance, without prejudice to any right of action that has accrued at the date of termination; (bii) rights to recover damages are not affected; and (ciii) 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 must indemnify indemnifies the University Company in respect of any loss it incurs in purchasing similar substitute Goods and/or Services from other suppliers.

Termination for Insolvency or Breach. 12.1 13.1 Without prejudice to its rights at common law, the University Peninsula Health may, by notice in writing to the Supplier, terminate the Contract if the Supplier: (a) 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) b. 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 other obligation under the Contract within seven (7) 7 days of being given notice by the University Peninsula Health requiring the Supplier to remedy the breach; or to remedy a breach referred to in this paragraph within fourteen (14) 14 days of being given the notice referred to; or (c) c. assigns its rights otherwise than in accordance with the requirements of the Contract. 12.2 13.2 Where, before termination of the Contract under clause 12.113.1, the University Peninsula Health 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 Peninsula Health on termination and, if not repaid is recoverable by the University Peninsula Health from the Supplier as a debt. 12.3 13.3 If the Contract is terminated under this clause: (a) a. the parties are relieved from future performance, without prejudice to any right of action that has accrued at the date of termination; (b) b. rights to recover damages are not affected; and (c) c. the Supplier must indemnify the University Peninsula Health in respect of any loss it incurs may incur in purchasing similar Goods and/or Services goods or services from other suppliers.

Termination for Insolvency or Breach. 12.1 (a) Without prejudice to its limiting any other rights or remedies the Company may have against the Supplier under this Agreement or at common law, the University may, 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 writing the Company’s written notice to the Supplier, terminate the Contract if ; or (iii) an event of breach specified in clause 18(b) happens to the Supplier. (b) The events of breach include: (ai) becomes 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 insolvent; being a partnership, becomes dissolved; makes an assignment of its assigns his or her 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 assetscreditors; or (bv) 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 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; oranalogous event occurs. (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 the Contract this Agreement is terminated under this clauseclause 18: (ai) the parties are relieved from future performance, without prejudice to any right of action that has accrued at the date of termination; (bii) rights to recover damages are not affected; and (ciii) 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 must indemnify indemnifies the University Company in respect of any loss it incurs in purchasing similar substitute Goods and/or Services from other suppliers.