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.
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 ONGC shall, by a notice in Writing have the right to terminate this CONTRACT and all the CONTRACTOR's rights and privileges hereunder, shall stand terminated forthwith.
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.
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.
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.
