Common use of Termination Upon Bankruptcy or Insolvency Clause in Contracts

Termination Upon Bankruptcy or Insolvency. Either Party may, at its option, terminate any Order Form or Statement of Work immediately upon written notice to the other Party, in the event (a) that the other Party becomes insolvent or unable to pay its debts when due; (b) the other Party files a petition in bankruptcy, reorganization or similar proceeding, or, if filed against, such petition is not removed within ninety (90) days after such filing; (c) the other Party discontinues its business; or (d) a receiver is appointed or there is an assignment for the benefit of such other Party’s creditors.

Termination Upon Bankruptcy or Insolvency. Either Party may, at its option, terminate any Order Form or Statement of Work this Agreement immediately upon written notice to the other Party, in the event (a) that the other Party becomes insolvent or unable to pay its debts when due; (b) the other Party files a petition in bankruptcy, reorganization or similar proceeding, or, if filed against, such petition is not removed within ninety (90) days after such filing; (c) the other Party discontinues its it business; or (d) a receiver is appointed or there is an assignment for the benefit of such other Party’s creditors.

Termination Upon Bankruptcy or Insolvency. Either Party may, at its option, terminate any Order Form or Statement of Work the Agreement immediately upon written notice to the other Party, in the event (a) that the other Party becomes insolvent or unable to pay its debts when due; (b) the other Party files a petition in bankruptcy, reorganization or similar proceeding, or, if filed against, such petition is not removed within ninety (90) days after such filing; (c) the other Party discontinues its it business; or (d) a receiver is appointed or there is an assignment for the benefit of such other Party’s creditors.

Termination Upon Bankruptcy or Insolvency. Either Party may, at its option, terminate any Order Form or Statement of Work this Agreement immediately upon written notice to the other Party, in the event (a) that the other Party becomes insolvent or unable to pay its debts when due; (b) the other Party files a petition in bankruptcy, reorganization or similar proceeding, or, if filed against, such petition is not removed within ninety (90) days after such filing; (c) the other Party discontinues its it business; or (d) a receiver is appointed or there is an assignment for the benefit of such other Party’s creditors.Part

Termination Upon Bankruptcy or Insolvency. Either Party may, at its option, terminate any Order Form or Statement of Work this Agreement immediately upon written notice to the other Party, in the event (ai) that the other Party becomes insolvent or unable to pay its debts when due; (bii) the other Party files a petition in bankruptcy, reorganization or similar proceeding, or, if filed against, such petition is not removed within ninety (90) days after such filing; (ciii) the other Party discontinues its it business; or (div) a receiver is appointed or there is an assignment for the benefit of such other Party’s creditors.

Termination Upon Bankruptcy or Insolvency. Either Party party may, at its option, terminate any Order Form or Statement of Work this Agreement immediately upon written notice to the other Partyparty, in the event (ai) that the other Party party becomes insolvent or unable to pay its debts when due; (bii) the other Party party files a petition in bankruptcy, reorganization or similar proceeding, or, if filed against, such petition is not removed within ninety (90) days after such filing; (ciii) the other Party party discontinues its business; or (div) a receiver is appointed or there is an assignment for the benefit of such other Partyparty’s creditors.