Common use of TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL Clause in Contracts

TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL. 41.1 The Authority may terminate the Contract by written notice having immediate effect if: a) the Contractor undergoes a change of control, within the meaning of section 416 of the Income and Corporation Taxes Xxx 0000, impacting adversely and materially on the performance of the Contract; or b) where the Contractor is an individual or a firm, the Contractor or any partner in the firm becomes bankrupt or has a receiving order or administration order made against him; or makes any compromise or arrangement with or for the benefit of his creditors; or appears unable to pay a debt within the meaning of section 268 of the Insolvency Xxx 0000; or any similar event occurs under the law of any other jurisdiction in respect of the Contractor; or c) where the Contractor is a company, the Contractor passes a resolution or the Court makes an order that the Contractor be wound up otherwise than for the purpose of solvent reconstruction or amalgamation; or a receiver, manager or administrator is appointed (whether out of court or otherwise) (or an application or petition is made in respect of the appointment of any of the foregoing) on behalf of a creditor in respect of the Contractor's business or any part of it; or the Contractor is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 (on the basis that the words “proved to the satisfaction of the court” are deemed omitted from Sections 123(1)(e) and 123(2) of the 0000 Xxx); or any similar event occurs under the law of any other jurisdiction in respect of the Contractor. 41.2 The Authority may only exercise its right under Condition 41.1(a) within 6 Months after a change of control occurs and shall not be permitted to do so where it has agreed in advance to the particular change of control that occurs. The Contractor shall notify the Authority immediately when any change of control occurs.

TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL. 41.1 42.1. The Authority may terminate the Contract by written notice having immediate effect if: (a) the Contractor undergoes a change of control, within the meaning of section 416 of the Income and Corporation Taxes Xxx 0000Act 1988, impacting adversely and materially on the performance of the Contract; or (b) where the Contractor is an individual or a firm, the Contractor or any partner in the firm becomes bankrupt or has a receiving order or administration order made against him; or makes any compromise or arrangement with or for the benefit of his creditors; or appears unable to pay a debt within the meaning of section 268 of the Insolvency Xxx 0000Act 1986; or any similar event occurs under the law of any other jurisdiction in respect of the Contractor; or (c) where the Contractor is a company, the Contractor passes a resolution or the Court makes an order that the Contractor be wound up otherwise than for the purpose of solvent reconstruction or amalgamation; or a receiver, manager or administrator is appointed (whether out of court or otherwise) (or an application or petition is made in respect of the appointment of any of the foregoing) on behalf of a creditor in respect of the Contractor's business or any part of it; or the Contractor is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 Act 1986 (on the basis that the words “proved to the satisfaction of the court” are deemed omitted from Sections 123(1)(e) and 123(2) of the 0000 Xxx1986 Act); or any similar event occurs under the law of any other jurisdiction in respect of the Contractor. 41.2 42.2. The Authority may only exercise its right under Condition 41.1(a42.1(a) (Termination on Insolvency or Change of Control) within 6 Months after a change of control occurs and shall not be permitted to do so where it has agreed in advance to the particular change of control that occurs. The Contractor shall notify the Authority immediately when any change of control occurs.

TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL. 41.1 42.1 The Authority may terminate the Contract by written notice having immediate effect if: a) the Contractor undergoes a change of control, within the meaning of section 416 of the Income and Corporation Taxes Xxx 0000, impacting adversely and materially on the performance of the Contract; or b) where the Contractor is an individual or a firm, the Contractor or any partner in the firm becomes bankrupt or has a receiving order or administration order made against him; or makes any compromise or arrangement with or for the benefit of his creditors; or appears unable to pay a debt within the meaning of section 268 of the Insolvency Xxx 0000; or any similar event occurs under the law of any other jurisdiction in respect of the Contractor; or c) where the Contractor is a company, the Contractor passes a resolution or the Court makes an order that the Contractor be wound up otherwise than for the purpose of solvent reconstruction or amalgamation; or a receiver, manager or administrator is appointed (whether out of court or otherwise) (or an application or petition is made in respect of the appointment of any of the foregoing) on behalf of a creditor in respect of the Contractor's business or any part of it; or the Contractor is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 (on the basis that the words “proved to the satisfaction of the court” are deemed omitted from Sections 123(1)(e) and 123(2) of the 0000 Xxx); or any similar event occurs under the law of any other jurisdiction in respect of the Contractor. 41.2 42.2 The Authority may only exercise its right under Condition 41.1(a42.1(a) within 6 Months after a change of control occurs and shall not be permitted to do so where it has agreed in advance to the particular change of control that occurs. The Contractor shall notify the Authority immediately when any change of control occurs.

TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL. 41.1 42.1 The Authority may terminate the Contract by written notice having immediate effect if: a) the Contractor undergoes a change of control, within the meaning of section 416 of the Income and Corporation Taxes Xxx 0000Act 1988, impacting adversely and materially on the performance of the Contract; or b) where the Contractor is an individual or a firm, the Contractor or any partner in the firm becomes bankrupt or has a receiving order or administration order made against him; or makes any compromise or arrangement with or for the benefit of his creditors; or appears unable to pay a debt within the meaning of section 268 of the Insolvency Xxx 0000Act 1986; or any similar event occurs under the law of any other jurisdiction in respect of the Contractor; or c) where the Contractor is a company, the Contractor passes a resolution or the Court makes an order that the Contractor be wound up otherwise than for the purpose of solvent reconstruction or amalgamation; or a receiver, manager or administrator is appointed (whether out of court or otherwise) (or an application or petition is made in respect of the appointment of any of the foregoing) on behalf of a creditor in respect of the Contractor's business or any part of it; or the Contractor is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 Act 1986 (on the basis that the words “proved to the satisfaction of the court” are deemed omitted from Sections 123(1)(e) and 123(2) of the 0000 Xxx1986 Act); or any similar event occurs under the law of any other jurisdiction in respect of the Contractor. 41.2 42.2 The Authority may only exercise its right under Condition 41.1(a) within 6 Months after a change of control occurs and shall not be permitted to do so where it has agreed in advance to the particular change of control that occurs. The Contractor shall notify the Authority immediately when any change of control occurs.

TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL. 41.1 42.1 The Authority may terminate the Contract by written notice having immediate effect if: a) the Contractor undergoes a change of control, within the meaning of section 416 of the Income and Corporation Taxes Xxx 0000, impacting adversely and materially on the performance of the Contract; or b) where the Contractor is an individual or a firm, the Contractor or any partner in the firm becomes bankrupt or has a receiving order or administration order made against him; or makes any compromise or arrangement with or for the benefit of his creditors; or appears unable to pay a debt within the meaning of section 268 of the Insolvency Xxx 0000; or any similar event occurs under the law of any other jurisdiction in respect of the Contractor; or c) where the Contractor is a company, the Contractor passes a resolution or the Court makes an order that the Contractor be wound up otherwise than for the purpose of solvent reconstruction or amalgamation; or a receiver, manager or administrator is appointed (whether out of court or otherwise) (or an application or petition is made in respect of the appointment of any of the foregoing) on behalf of a creditor in respect of the Contractor's business or any part of it; or the Contractor is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 (on the basis that the words “proved to the satisfaction of the court” are deemed omitted from Sections 123(1)(e) and 123(2) of the 0000 Xxx); or any similar event occurs under the law of any other jurisdiction in respect of the Contractor. 41.2 42.2 The Authority may only exercise its right under Condition 41.1(a) within 6 Months after a change of control occurs and shall not be permitted to do so where it has agreed in advance to the particular change of control that occurs. The Contractor shall notify the Authority immediately when any change of control occurs.

TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL. 41.1 41.1. The Authority may terminate the Contract by written notice having immediate effect if: (a) the Contractor undergoes a change of control, within the meaning of section 416 of the Income and Corporation Taxes Xxx 0000, impacting adversely and materially on the performance of the Contract; or (b) where the Contractor is an individual or a firm, the Contractor or any partner in the firm becomes bankrupt or has a receiving order or administration order made against him; or makes any compromise or arrangement with or for the benefit of his creditors; or appears unable to pay a debt within the meaning of section 268 of the Insolvency Xxx 0000; or any similar event occurs under the law of any other jurisdiction in respect of the Contractor; or (c) where the Contractor is a company, the Contractor passes a resolution or the Court makes an order that the Contractor be wound up otherwise than for the purpose of solvent reconstruction or amalgamation; or a receiver, manager or administrator is appointed (whether out of court or otherwise) (or an application or petition is made in respect of the appointment of any of the foregoing) on behalf of a creditor in respect of the Contractor's business or any part of it; or the Contractor is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 (on the basis that the words “proved to the satisfaction of the court” are deemed omitted from Sections 123(1)(e) and 123(2) of the 0000 Xxx); or any similar event occurs under the law of any other jurisdiction in respect of the Contractor. 41.2 41.2. The Authority may only exercise its right under Condition 41.1(a41.1 (a) within 6 Months after a change of control occurs and shall not be permitted to do so where it has agreed in advance to the particular change of control that occurs. The Contractor shall notify the Authority immediately when any change of control occurs.

TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL. 41.1 42.1 The Authority may terminate the Agreement and/or any Call-off Contract by written notice having immediate effect if: a) the Contractor Supplier undergoes a change of control, within the meaning of section 416 of the Income and Corporation Taxes Xxx 0000Act 1988, impacting adversely and materially on the performance of the Contract; or b) where the Contractor Supplier is an individual or a firm, the Contractor Supplier or any partner in the firm becomes bankrupt or has a receiving order or administration order made against him; or makes any compromise or arrangement agreement with or for the benefit of his creditors; or appears unable to pay a debt within the meaning of section 268 of the Insolvency Xxx 0000Act 1986; or any similar event occurs under the law of any other jurisdiction in respect of the ContractorSupplier; or c) where the Contractor Supplier is a company, the Contractor Supplier passes a resolution or the Court makes an order that the Contractor Supplier be wound up otherwise than for the purpose of solvent reconstruction or amalgamation; or a receiver, manager or administrator is appointed (whether out of court or otherwise) (or an application or petition is made in respect of the appointment of any of the foregoing) on behalf of a creditor in respect of the ContractorSupplier's business or any part of it; or the Contractor Supplier is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 Act 1986 (on the basis that the words “proved to the satisfaction of the court” are deemed omitted from Sections 123(1)(e) and 123(2) of the 0000 Xxx1986 Act); or any similar event occurs under the law of any other jurisdiction in respect of the ContractorSupplier. 41.2 42.2 The Authority may only exercise its right under Condition 41.1(a42.1(a) (Termination on Insolvency or Change of Control) within 6 Months after a change of control occurs and shall not be permitted to do so where it has agreed in advance to the particular change of control that occurs. The Contractor Supplier shall notify the Authority immediately when any change of control occurs.

TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL. 41.1 38.1 The Authority may terminate the Contract by written notice having immediate effect if: a) the Contractor undergoes a change of control, within the meaning of section 416 of the Income and Corporation Taxes Xxx 0000, impacting adversely and materially on the performance of the Contract; or b) where the Contractor is an individual or a firm, the Contractor or any partner in the firm becomes bankrupt or has a receiving order or administration order made against him; or makes any compromise or arrangement with or for the benefit of his creditors; or appears unable to pay a debt within the meaning of section 268 of the Insolvency Xxx 0000; or any similar event occurs under the law of any other jurisdiction in respect of the Contractor; or c) where the Contractor is a company, the Contractor passes a resolution or the Court makes an order that the Contractor be wound up otherwise than for the purpose of solvent reconstruction or amalgamation; or a receiver, manager or administrator is appointed (whether out of court or otherwise) (or an application or petition is made in respect of the appointment of any of the foregoing) on behalf of a creditor in respect of the Contractor's business or any part of it; or the Contractor is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 (on the basis that the words “proved to the satisfaction of the court” are deemed omitted from Sections 123(1)(e) and 123(2) of the 0000 Xxx); or any similar event occurs under the law of any other jurisdiction in respect of the Contractor. 41.2 38.2 The Authority may only exercise its right under Condition 41.1(a38.1(a) within 6 Months after a change of control occurs and shall not be permitted to do so where it has agreed in advance to the particular change of control that occurs. The Contractor shall notify the Authority immediately when any change of control occurs.

TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL. 41.1 47.1. The Authority may terminate the Contract by written notice having immediate effect if: (a) the Contractor undergoes a change of control, within the meaning of section 416 of the Income and Corporation Taxes Xxx 0000Act 1988, impacting adversely and materially on the performance of the Contract; or (b) where the Contractor is an individual or a firm, the Contractor or any partner in the firm becomes bankrupt or has a receiving order or administration order made against him; or makes any compromise or arrangement with or for the benefit of his creditors; or appears unable to pay a debt within the meaning of section 268 of the Insolvency Xxx 0000Act 1986; or any similar event occurs under the law of any other jurisdiction in respect of the Contractor; or (c) where the Contractor is a company, the Contractor passes a resolution or the Court makes an order that the Contractor be wound up otherwise than for the purpose of solvent reconstruction or amalgamation; or a receiver, manager or administrator is appointed (whether out of court or otherwise) (or an application or petition is made in respect of the appointment of any of the foregoing) on behalf of a creditor in respect of the Contractor's business or any part of it; or the Contractor is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 Act 1986 (on the basis that the words “proved to the satisfaction of the court” are deemed omitted from Sections 123(1)(e) and 123(2) of the 0000 Xxx1986 Act); or any similar event occurs under the law of any other jurisdiction in respect of the Contractor. 41.2 47.2. The Authority may only exercise its right under Condition 41.1(a47.1 (a) within 6 Months after a change of control occurs and shall not be permitted to do so where it has agreed in advance to the particular change of control that occurs. The Contractor shall notify the Authority immediately when any change of control occurs.

TERMINATION ON INSOLVENCY OR CHANGE OF CONTROL. 41.1 42.1 The Authority may terminate the Contract by written notice having immediate effect if: a) the Contractor undergoes a change of control, within the meaning of section 416 of the Income and Corporation Taxes Xxx 0000, impacting adversely and materially on the performance of the Contract; or b) where the Contractor is an individual or a firm, the Contractor or any partner in the firm becomes bankrupt or has a receiving order or administration order made against him; or makes any compromise or arrangement with or for the benefit of his creditors; or appears unable to pay a debt within the meaning of section 268 of the Insolvency Xxx 0000; or any similar event occurs under the law of any other jurisdiction in respect of the Contractor; or c) where the Contractor is a company, the Contractor passes a resolution or the Court makes an order that the Contractor be wound up otherwise than for the purpose of solvent reconstruction or amalgamation; or a receiver, manager or administrator is appointed (whether out of court or otherwise) (or an application or petition is made in respect of the appointment of any of the foregoing) on behalf of a creditor in respect of the Contractor's business or any part of it; or the Contractor is unable to pay its debts within the meaning of section 123 of the Insolvency Xxx 0000 (on the basis that the words “proved to the satisfaction of the court” are deemed omitted from Sections 123(1)(e) and 123(2) of the 0000 Xxx); or any similar event occurs under the law of any other jurisdiction in respect of the Contractor. 41.2 42.2 The Authority may only exercise its right under Condition 41.1(a42.1(a) (Termination on Insolvency or Change of Control) within 6 Months after a change of control occurs and shall not be permitted to do so where it has agreed in advance to the particular change of control that occurs. The Contractor shall notify the Authority immediately when any change of control occurs.