TERMINATION ON ACCOUNT OF INSOLVENCY Sample Clauses

TERMINATION ON ACCOUNT OF INSOLVENCY. In the event the Contractor or its collaborator at any time during the term of this Agreement becomes insolvent or makes a voluntary assignment of its assets for the benefit of creditors or is adjudged bankrupt, then the Operator shall, by a notice in Writing have the right to terminate this Agreement and all the Contractor's rights and privileges hereunder, shall stand terminated forthwith.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
TERMINATION ON ACCOUNT OF INSOLVENCY. In the event that the contractor at any time during the term of this contract becomes insolvent or makes a voluntary assignment of its assets for the benefit of its creditors or is adjudged Bankrupt, then the company shall by a notice in writing have the right to terminate the contract and all the contractor's right and privileges hereunder shall stand terminated forthwith. In such eventuality, the company shall pay the contractor the applicable day rate if due upon the date of termination of the contract. As soon as petition, if any, is made for declaration of insolvency to the court, the contractor shall keep the company informed of the fact in writing.
Sample 1Sample 2
TERMINATION ON ACCOUNT OF INSOLVENCY. In the event that the CONTRACTOR at any time during the term of the contract becomes insolvent or makes a voluntary assignment of its assets for the benefits of creditors or is adjudged bankrupt, then the BIRAC shall by a notice in writing have the right to terminate the contract and all the contractor’s right and privileges hereunder, shall stand terminated forthwith.
Sample 1
TERMINATION ON ACCOUNT OF INSOLVENCY. In the event M/s Godrej & Xxxxx Mfg. Co. Ltd., at any time during the term of the Contract becomes insolvent or makes a voluntary assignment of its assets for the benefit of creditors or is adjudged bankrupt, then Registrar General, High Court of Madhya Pradesh shall, by a notice in writing have the right to terminate the Contract and all the Bidder’s rights and privileges hereunder, shall stand terminated forthwith.
Sample 1

Related to TERMINATION ON ACCOUNT OF INSOLVENCY

  • Termination on Change of Control and Insolvency 36.1 The Authority may terminate the Contract with immediate effect by notice in writing where the Contractor is a company and in respect of the Contractor: -

  • Termination on Insolvency The Authority may terminate this Framework Agreement with immediate effect by notice in writing where the Supplier is a company and in respect of the Supplier:

  • Termination on Material Default 30.2.1 The Authority may terminate this Framework Agreement for material Default by issuing a Termination Notice to the Supplier where:

  • H1 Termination on Insolvency and Change of Control H1.1 The Authority may terminate the Contract with immediate effect by notice in writing and without compensation to the Contractor where the Contractor is a company and in respect of the Contractor:

  • Termination on Insolvency and Change of Control 43.1. The Authority may terminate the Contractor’s interest in the Framework Agreement with immediate effect by notice where in respect of the Contractor:

  • H2 Termination on Default H2.1 The Authority may terminate the Contract by written notice in accordance with clause A5.2 (Notices) to the Contractor with immediate effect if the Contractor commits a Default and if:

  • Termination of Agreement, Resignation, or Removal of Custodian Either party may terminate this agreement at any time by giving written notice to the other. We can resign as custodian at any time effective 30 days after we send written notice of our resignation to you. Upon receipt of that notice, you must make arrangements to transfer your Xxxx XXX to another financial organization. If you do not complete a transfer of your Xxxx XXX within 30 days from the date we send the notice to you, we have the right to transfer your Xxxx XXX assets to a successor Xxxx XXX trustee or custodian that we choose in our sole discretion, or we may pay your Xxxx XXX to you in a single sum. We will not be liable for any actions or failures to act on the part of any successor trustee or custodian, nor for any tax consequences you may incur that result from the transfer or distribution of your assets pursuant to this section. If this agreement is terminated, we may charge to your Xxxx XXX a reasonable amount of money that we believe is necessary to cover any associated costs, including but not limited to one or more of the following. • Any fees, expenses, or taxes chargeable against your Xxxx XXX • Any penalties or surrender charges associated with the early withdrawal of any savings instrument or other investment in your Xxxx XXX If we are a nonbank custodian required to comply with Regulations section 1.408-2(e) and we fail to do so or we are not keeping the records, making the returns, or sending the statements as are required by forms or regulations, the IRS may require us to substitute another trustee or custodian. We may establish a policy requiring distribution of the entire balance of your Xxxx XXX to you in cash or property if the balance of your Xxxx XXX drops below the minimum balance required under the applicable investment or policy established.

  • Termination on Default The Authority may terminate this Framework Agreement by serving written notice on the Supplier with effect from the date specified in such notice where the Supplier commits a Material Default and if:

  • Termination on Audit The Authority may terminate this Framework Agreement by serving notice in writing with effect from the date specified in such notice in the circumstances set out in Clause 17.9 (Records and Audit Access).

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.

Time is Money Join Law Insider Premium to draft better contracts faster.