Common use of Termination for Other Causes Clause in Contracts

Termination for Other Causes. Either Party (the “Terminating Party”) shall have the right to terminate this Agreement immediately upon written notice, (i) if the other Party shall file a petition in bankruptcy, or if an involuntary petition in bankruptcy shall be filed against the other Party and such petition shall not be dismissed within sixty (60) days, or if a receiver or guardian has been appointed for the other Party, or (ii) upon the dissolution, termination of existence or insolvency of the other Party.

Termination for Other Causes. Either Party (the “Terminating Party”) shall have the right to party may terminate this Agreement immediately upon written noticeprovision of notice to the other party, (i) if upon the institution by the other Party shall file a petition in bankruptcy, party of receivership or if an involuntary petition in bankruptcy shall be filed against the other Party and such petition shall not be dismissed within sixty (60) days, or if a receiver or guardian has been appointed for the other Party, or proceedings; (ii) upon the dissolutioninstitution against the other party by a third party of receivership or bankruptcy proceedings, termination of existence or insolvency if such proceedings are not dismissed within 30 days of the other Partyparty’s receipt of notice of such proceedings against it; or (iii) upon the other party’s making an assignment for the benefit of creditors of all or substantially all of its assets.