Common use of Termination on Bankruptcy or Insolvency Clause in Contracts

Termination on Bankruptcy or Insolvency. The Council may terminate the Contract by notice in writing with immediate effect where:- a petition is presented for the Provider's bankruptcy, or a bankruptcy order is made against the Provider, or the Provider makes any composition or arrangement with or for the benefit of creditors, or if the Provider passes a resolution for winding up or dissolution (otherwise than for the purposes of and followed by an amalgamation or reconstruction) or an application is made for an administration order in relation to it, or any party gives or files notice of intention to appoint an administrator of it or such an administrator is appointed, or the court makes a winding- up order, or an administrative receiver, receiver, manager or supervisor is appointed by a creditor or by the court, or the Provider is unable to pay its debts within the meaning of section 123 of the Insolvency Act 1986, or any similar event occurs under the law of any other jurisdiction within the United Kingdom.

Termination on Bankruptcy or Insolvency. The Council Authority may terminate the Contract by notice in writing with immediate effect where:- a petition is presented for the ProviderSupplier's bankruptcy, or a bankruptcy order is made against the ProviderSupplier, or the Provider Supplier makes any composition or arrangement with or for the benefit of creditors, or if the Provider Supplier passes a resolution for winding up or dissolution (otherwise than for the purposes of and followed by an amalgamation or reconstruction) or an application is made for an administration order in relation to it, or any party gives or files notice of intention to appoint an administrator of it or such an administrator is appointed, or the court makes a winding- winding-up order, or an administrative receiver, receiver, manager or supervisor is appointed by a creditor or by the court, or the Provider Supplier is unable to pay its debts within the meaning of section 123 of the Insolvency Act 1986, or any similar event occurs under the law of any other jurisdiction within the United Kingdom.

Termination on Bankruptcy or Insolvency. The Council may terminate the Contract by notice in writing with immediate effect where:- a petition is presented for the ProviderSupplier's bankruptcy, or a bankruptcy order is made against the ProviderSupplier, or the Provider Supplier makes any composition or arrangement with or for the benefit of creditors, or if the Provider Supplier passes a resolution for winding up or dissolution (otherwise than for the purposes of and followed by an amalgamation or reconstruction) or an application is made for an administration order in relation to it, or any party gives or files notice of intention to appoint an administrator of it or such an administrator is appointed, or the court makes a winding- winding-up order, or an administrative receiver, receiver, manager or supervisor is appointed by a creditor or by the court, or the Provider Supplier is unable to pay its debts within the meaning of section 123 of the Insolvency Act 1986, or any similar event occurs under the law of any other jurisdiction within the United Kingdom.