Common use of Termination in special cases Clause in Contracts

Termination in special cases. The Incubator may at any time terminate the Contract by giving written notice with immediate effect in any of the following events: if the Incubatee becomes insolvent or if its financial position is such that within the framework of its national law, legal action leading towards bankruptcy may be taken against it by its creditors; if the Incubatee resorts to fraudulent practices in connection with the Contract, especially by deceit concerning the nature, quality or quantity of the supplies, and the methods of processes of manufacture employed or by the giving or offering of gifts or remuneration for the purpose of bribery to any person in the employ of the Incubator or acting on its behalf, irrespective of whether such bribes or remuneration are made on the initiative of the Incubatee or otherwise.