Termination in Event of Default. Either Party may terminate this ------------------------------- Agreement immediately upon written notice to the other Party under any of the following circumstances, each of which shall constitute an Event of Default: (i) the other Party makes an assignment for the benefit of creditors (other than solely as an assignment of moneys due); (ii) the other Party becomes unable to pay its debts as they become due, unless assurance satisfactory to the terminating Party is provided within thirty (30) days of receipt of its notice of termination hereunder; or (iii) the other Party becomes the subject of a proceeding, whether voluntary or involuntary, under the bankruptcy or insolvency laws of the United States or any other jurisdiction, unless such proceeding is dismissed or withdrawn within forty-five (45) days of the non-defaulting Party's receipt of the defaulting Party's notice of termination hereunder.
Termination in Event of Default. Notwithstanding the provisions of Clause 2
Termination in Event of Default. If an Event of Default, as defined above, occurs, the Party not in default shall, in addition to any other rights and remedies provided by law, have the right to immediately suspend its performance to the Party in default or to immediately terminate this Agreement.
Termination in Event of Default. This Agreement may be terminated upon the occurrence of any of the following events of default and in the manner specified hereunder:
Termination in Event of Default. This Agreement may be terminated upon the occurrence of any of the following events of default and in the manner specified hereunder: In the event that the Level of Delivery falls below thirty percent (30%) or the Level of Lifting falls below thirty percent (30%), the Purchaser or the Seller, as the case may be, shall have the right to terminate this Agreement, after providing the other Party with prior written notice of not less than thirty (30) days. However, such notice is to be issued within 60 (sixty) days of the end of the relevant Year; provided that the Seller shall not have a right to terminate the Agreement pursuant to this sub-clause in the event that the Level of Lifting by the Purchaser falls below 30% (thirty per cent.) solely on account of the fact that the Purchaser has been unable to lift the Scheduled Quantity due to shortfall in the quantity necessary for formation of rake for transportation through rail mode; In the event the Level of Lifting falls below 30% (thirty per cent.) and the FSA is liable for termination, the Purchaser can keep their FSA alive by paying applicable Penalty as calculated in terms of Clause 4.7 or amount equivalent to the Contract Performance Guarantee, whichever is higher. The willing Purchaser shall have to request the Seller within 30 days of completion of relevant financial year for availing such optional facility providing an undertaking that they shall pay applicable penal amount. The FSA shall be revived after receipt of the required penal amount. No backlog quantity shall be admissible. There shall not be any financial liability for either Party during the dormant period of the FSA. Notwithstanding the provisions of Clause 15.5, in the event that the matter pertains to Clause 15.1.2, the Seller shall have the right to terminate this Agreement forthwith without any liabilities or damages, whatsoever, payable to the Purchaser. In the event of continuation of suspension for a continuous period of 6 (six) months pursuant to Clause 15.1.1, Clause 15.1.3 , Clause 15.1.4 and Clause 15.1.5, the Seller shall have the right to terminate this Agreement by providing a written notice of 30 (thirty) days to the Purchaser. In the event that either Party suffers insolvency, appointment of liquidator (provisional or final), appointment of receiver of any of material assets, levy of any order of attachment of the material assets, or any order or injunction restraining the Party from dealing with or disposing of its asset...
Termination in Event of Default. An Event of Default shall be any breach of this Agreement. The Lender shall give two (2) days notice to cure any Event of Default. In addition to the right of termination set out in Article 2.2, the Lender may, in the Event of Default by the Borrower or the Student, terminate this Agreement upon one (1) days notice after the two (2) day period for rectification of default has passed if rectification to the satisfaction of the Lender has not occurred.
Termination in Event of Default. Without prejudice to whatever other rights it may have to terminate this Agreement hereunder or to other available remedies, either party shall have the right at any time, by giving written notice to the other party, to terminate this Agreement upon the occurrence of any of the following Events of Default:
Termination in Event of Default. Lessor shall have, in the event of default by Lessee, in addition to other rights and remedies at law or equity, the right to either terminate this agreement or to continue this agreement in full force and effect. Unless otherwise provided herein, this agreement shall be terminated only upon Lessor’s notification of Lessee in writing of Lessor’s termination of the agreement or upon the institution by Lessor of a judicial proceeding for the primary purpose of termination of the agreement which in fact results in a termination of Lessee’s right of possession of the premises. In no event shall the following actions by Lessor, either before or after abandonment of the Leasehold Premises by Lessee constitute a termination of this lease: maintenance or preservation of the premises, efforts to relet the premises, or appointment of a receiver to protect Lessor’s interest hereunder. If Lessor elects to terminate this lease, Lessor shall, without liability to Lessee, have the right to immediately reenter the Leasehold Premises, remove all persons and property therefrom, and store any property so removed in a public warehouse, or elsewhere, at the cost of and to the account of Lessee; provided that the Lessee shall have the right after reasonable notice to monitor the removal and storage of any lab equipment.
Termination in Event of Default. In the event that either Party is responsible for an Event of Default, the other Party may, by giving notice in writing while such Event of Default is continuing, terminate this Agreement, setting out the reasons and referring to this provision of this Agreement; provided, however, that this Section 8.2 shall not be applicable where Section 5.7 of this Agreement is applicable and such termination shall not release the Party responsible for an Event of Default from making all payments then due to the other Party.
Termination in Event of Default. In the event of Default, as defined in this § 4.3, the non-defaulting Party may terminate the Agreement provided that the non-Defaulting Party so advises the defaulting Party in writing (such notice, a “Default Notice”) of the event of the alleged Default and the defaulting Party does not cure the alleged Default within thirty (30) days after receipt of the Default Notice thereof. Default is defined as:
