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.
Appears in 4 contracts
Samples: Drilling Agreement, Drilling Agreement, Drilling Agreement
TERMINATION ON ACCOUNT OF INSOLVENCY. In the event the Contractor 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 ONGC shall, by a notice in Writing have the right to terminate this Agreement CONTRACT and all the Contractor's CONTRACTOR’s rights and privileges hereunder, shall stand terminated forthwith.
Appears in 3 contracts
Samples: Service Level Agreement (Sla), Service Level Agreement (Sla), Service Level Agreement (Sla)
TERMINATION ON ACCOUNT OF INSOLVENCY. In the event that the Contractor or its collaborator at any time during the term of this Agreement the Contract, becomes insolvent or makes a voluntary assignment of its assets for the benefit of creditors or is adjudged bankrupt, then the Operator Company shall, by a notice in Writing writing have the right to terminate this Agreement the Contract and all the Contractor's ’s rights and privileges hereunder, shall stand terminated forthwith. 61.4.
Appears in 1 contract
Samples: Modular Package Contract (Mpc)
