Common use of Termination for Insolvency Clause in Contracts

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a either party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such either party, or proceedings are instituted by or against such either party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such either party makes an assignment for the benefit of creditors, or substantially all of the assets of such either party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement upon notice to the other party, and all licenses granted to such party hereunder effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such partyParty, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate the Research Collaboration and/or this Agreement Agreement, effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings -------------------------- by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such terminationtermination or in the event Symyx is involved in insolvency proceedings during the Research Program Term, TDCC may elect to terminate the Research Program and not the Agreement upon notice to Symyx.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.this

Termination for Insolvency. If voluntary or involuntary proceedings by or against a a, party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings -------------------------- by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary -------------------------- proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy or under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization or the dissolution of such partyParty, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency lawlaw (including Chapter 11), or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization or the dissolution of such partyParty, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party, may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization or the dissolution of such partyParty, which proceedings, if involuntary, shall are not have been dismissed within sixty ninety (6090) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty ninety (6090) days thereafter, the other party Party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary In the event that either Party files for protection under bankruptcy or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency lawlaws, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over substantially all of the assets of such party are seized or attached and its property that is not released discharged within sixty (60) days thereafterafter such filing, proposes a written agreement of composition or extension of its debts, proposes or is a party to any dissolution or liquidation, files a petition under any bankruptcy or insolvency act or has any such petition filed against it that is not discharged within sixty (60) days of the filing thereof, then the other party Party may immediately terminate this Agreement in its entirety effective immediately upon written notice of such terminationto the first Party.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) 60 days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) 60 days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings -------------------------- by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate the Research Collaboration and/or this Agreement Agreement, effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization or the dissolution of such partyParty, which proceedings, if involuntary, shall not have been dismissed without prejudice within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate this Restated Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, In the event that either Party (or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution parent of such partyParty) (a) files for protection under bankruptcy or insolvency Laws, which proceedings, if involuntary, shall not have been dismissed within sixty (60b) days after the date of filing, or if such party makes an assignment for the benefit of creditors, (c) appoints or suffers appointment of a receiver or trustee over substantially all of its property that is not discharged within 90 days after such filing, (a) is a party to any dissolution or liquidation, or (e) files a petition under any bankruptcy or insolvency act or has any such petition filed against it that is not discharged within 60 days of the assets of such party are seized or attached and not released within sixty (60) days thereafterfiling thereof, then the other party Party may immediately terminate this Agreement in its entirety effective immediately upon written notice of to such terminationParty.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization or the dissolution of such partyParty, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or if all or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such partyParty, which proceedings, if involuntary, shall have not have been dismissed within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for the involuntary corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntaryvoluntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such partyParty, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate the Collaboration and/or this Agreement effective Agreement, effecttive upon notice of such termination.

Termination for Insolvency. If a voluntary or involuntary proceedings proceeding by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such partyParty, which proceedings, if involuntary, shall will not have been dismissed within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization or the dissolution of such partyParty, which proceedings, if involuntary, shall not have been dismissed without prejudice within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, In the event that either Party (or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution parent of such partyParty) (a) files for protection under bankruptcy or insolvency Laws, which proceedings, if involuntary, shall not have been dismissed within sixty (60b) days after the date of filing, or if such party makes an assignment for the benefit of creditors, (c) appoints or suffers appointment of a receiver or trustee over substantially all of its property that is not discharged within 90 days after such filing, (a) is a party to any dissolution or liquidation, or (e) files a petition under any bankruptcy or insolvency act or has any such petition filed against it that is not discharged within 60 days of the assets of such party are seized or attached and not released within sixty (60) days thereafterfiling thereof, then the other party Party may immediately terminate this Agreement in its entirety effective immediately upon written notice of to such terminationParty.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization or the dissolution of such partyParty, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate this Agreement effective upon notice of such termination.. 21/36

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party party, to the extent permitted under applicable law, may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.. * Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. 26

Termination for Insolvency. If voluntary or involuntary proceedings proceeding by -------------------------- or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization dissolution, liquidation or the dissolution winding-up of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of * Confidential treatment requested creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization or the dissolution of such partyParty, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by -------------------------- or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60.60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by --------------------------- or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination. Without limiting the foregoing, upon any liquidation of Genmab subject to Section 4.5 of the Shareholders Agreement, this Agreement shall terminate concurrently.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for the involuntary corporate reorganization or the dissolution of such party, which proceedings, if involuntary, proceedings shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party party, in each of the foregoing cases only if it is for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, then this Agreement may be terminated by the other party may immediately terminate this Agreement effective upon notice of such terminationparty.

Termination for Insolvency. If voluntary or involuntary proceedings by -------------------------- or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization or the dissolution of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate the Research Program and/or this Agreement Agreement, effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by -------------------------- or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization reorganization, dissolution, liquidation or the dissolution winding-up of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such party, or proceedings are instituted by or against such party for corporate reorganization reorganization, dissolution, liquidation, or the dissolution winding-up of such party, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party makes an assignment for the benefit of creditors, or substantially all of the assets of such party are seized or attached and not released within sixty (60) days thereafter, the other party may immediately terminate this Agreement effective upon notice of such termination.

Termination for Insolvency. If voluntary or involuntary proceedings by or against a party Party are instituted in bankruptcy under any insolvency law, or a receiver or custodian is appointed for such partyParty, or proceedings are instituted by or against such party Party for corporate reorganization or the dissolution of such partyParty, which proceedings, if involuntary, shall not have been dismissed within sixty (60) days after the date of filing, or if such party Party makes an assignment for the benefit of creditors, or substantially all of the assets of such party Party are seized or attached and not released within sixty (60) days thereafter, the other party Party may immediately terminate this Agreement effective upon notice of such termination.. 14.4