Termination upon Bankruptcy, Insolvency, Etc Sample Clauses

Termination upon Bankruptcy, Insolvency, Etc. Either Party may terminate this Agreement immediately upon written notice after the other Party has executed an assignment for the benefit of creditors or filed for relief under any applicable bankruptcy, reorganization, moratorium, or similar debtor relief laws, or in the event that a receiver has been appointed for the other Party or any of its assets or properties, or an involuntary petition in bankruptcy has been filed against such other Party, which proceeding or petition has not been dismissed, vacated, or stayed within sixty (60) days.
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Termination upon Bankruptcy, Insolvency, Etc. Either party may immediately terminate this Agreement and any purchase order(s) hereunder upon written notice to the other party, without the necessity of prior notice and opportunity to cure, and without monetary penalty, in the event that: (a) the other party enters voluntary or involuntary bankruptcy or insolvency; (b) the other party makes an assignment for the benefit of creditors; (c) a petition is filed against the other party under a bankruptcy law, or any other law for relief of debtors, or other law similar in purpose or effect, the effect of which is to cause the other party to have its business discontinued; or (d) the other party breaches its obligations under the U.S. export control laws and regulations, including any such laws and regulations of the U.S. Department of Commerce, U.S. Department of State or the U.S. Department of the Treasury, and is placed on any debarred list for violation of these U.S. export control laws and regulations.
Sample 1
Termination upon Bankruptcy, Insolvency, Etc. Either party may terminate this Agreement immediately upon written notice if (i) the other party has executed an assignment for the benefit of creditors or filed for relief under any applicable bankruptcy, reorganization, moratorium or similar debtor relief laws, (ii) a receiver has been appointed for the other party or any of its assets or properties, (iii) an involuntary petition in bankruptcy has been filed against the other party or any other insolvency or bankruptcy proceeding has been commenced against the other party, which petition or proceeding has not been dismissed, vacated or stayed within ninety (90) days, or (iv) the other party is liquidated, dissolved or wound up.
Sample 1

Related to Termination upon Bankruptcy, Insolvency, Etc

  • Termination Upon Bankruptcy This contract may be terminated in whole or in part by MDHS upon written notice to Contractor, if Contractor should become the subject of bankruptcy or receivership proceedings, whether voluntary or involuntary, or upon the execution by Contractor of an assignment for the benefit of its creditors. In the event of such termination, Contractor shall be entitled to recover just and equitable compensation for satisfactory work performed under this contract, but in no case shall said compensation exceed the total contract price.

  • Involuntary Bankruptcy or Insolvency Proceedings Proceedings for the appointment of a receiver, trustee, liquidator or custodian of the Company or of all or a substantial part of the property thereof, or an involuntary case or other proceedings seeking liquidation, reorganization or other relief with respect to the Company or the debts thereof under any bankruptcy, insolvency or other similar law or hereafter in effect shall be commenced and an order for relief entered or such proceeding shall not be dismissed or discharged within thirty (30) days of commencement.

  • Voluntary Bankruptcy or Insolvency Proceedings The Company shall (i) apply for or consent to the appointment of a receiver, trustee, liquidator or custodian of itself or of all or a substantial part of its property, (ii) admit in writing its inability to pay its debts generally as they mature, (iii) make a general assignment for the benefit of its or any of its creditors, (iv) be dissolved or liquidated, (v) commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or consent to any such relief or to the appointment of or taking possession of its property by any official in an involuntary case or other proceeding commenced against it, or (vi) take any action for the purpose of effecting any of the foregoing; or

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