Common use of Termination Upon Bankruptcy or Insolvency Clause in Contracts

Termination Upon Bankruptcy or Insolvency. This Agreement may be terminated by a Party giving written notice of termination to other Party upon the filing of bankruptcy or bankruptcy of the other Party or the appointment of a receiver of any of the other Party's assets, or the making by the other Party of any assignment for the benefit of creditors, or the institution of any proceedings against the other Party under any bankruptcy law. Termination shall be effective upon the date specified in such notice.

Termination Upon Bankruptcy or Insolvency. This Agreement may be terminated by a either Party giving written notice of termination to the other Party upon the filing of bankruptcy or bankruptcy of the other Party or the appointment of a receiver of any of the other Party's assets, or the making by the other Party of any assignment for the benefit of creditors, or the institution of any proceedings against the other Party under any bankruptcy law. Termination shall be effective upon the date specified in such notice.

Termination Upon Bankruptcy or Insolvency. This Either Party may, at its option, terminate this Agreement may be terminated by a Party giving immediately upon written notice of termination to the other Party upon Party, in the filing of bankruptcy or bankruptcy of event (a) that the other Party becomes insolvent or the appointment of a receiver of any of the other Party's assets, or the making by the other Party of any assignment for the benefit of creditors, or the institution of any proceedings against the other Party under any bankruptcy law. Termination shall be effective upon the date specified in such notice.unable to pay its debts when due;

Termination Upon Bankruptcy or Insolvency. This Agreement may be terminated Either party shall have the immediate right to terminate this Agreement, by a Party giving providing written notice of termination to other Party upon the filing of bankruptcy or bankruptcy of the other Party or party, in the appointment event that (i) the other party becomes insolvent, enters into receivership, is the subject of a receiver of any of the other Party's assetsvoluntary or involuntary bankruptcy proceeding, or the making by the other Party of any makes an assignment for the benefit of creditors; or (ii) a substantial part of the other party’s property becomes subject to any levy, seizure, assignment, or the institution of sale for or by any proceedings against the other Party under any bankruptcy law. Termination shall be effective upon the date specified in such noticecreditor or government agency.