Common use of Termination Upon Bankruptcy Clause in Contracts

Termination Upon Bankruptcy. Either Party may terminate this Agreement if, at any time, the other Party shall (a) file in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of that Party or of its assets, (b) propose a written agreement of composition or extension of its debts, (c) be served with an involuntary petition against it, filed in any insolvency proceeding, and such petition has not been dismissed within sixty (60) days after the filing thereof, (d) propose or be a party to any dissolution or liquidation, (e) make an assignment for the benefit of its creditors or (f) admit in writing its inability generally to meet its obligations as they fall due in the general course.

Termination Upon Bankruptcy. Either Party may terminate this Agreement if, at any time, the other Party shall (a) file in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of that Party or of its assets, (b) propose a written agreement of composition or extension of its debts, (c) be served with an involuntary petition against it, filed in any insolvency proceeding, and such petition has not been dismissed within sixty (60) [***] days after the filing thereof, (d) propose or be a party to any dissolution or liquidation, (e) make an assignment for the benefit of its creditors or (f) admit in writing its inability generally to meet its obligations as they fall due in the general course.

Termination Upon Bankruptcy. Either Party may terminate this Agreement if, at any time, the other Party shall (ai) file in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of that Party or of its assets, (bii) propose a written agreement of composition or extension of its debts, (ciii) be served with an involuntary petition against it, filed in any insolvency proceeding, and such petition has not been dismissed within sixty (60) days after the filing thereof, (div) propose or be a party to any dissolution or liquidation, (ev) make an assignment for the benefit of its creditors or (fvi) admit in writing its inability generally to meet its obligations as they fall due in the general course.

Termination Upon Bankruptcy. Either Party may terminate this Agreement if, at any time, the other Party shall (a) will file in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of that Party or of its assets, (b) propose or if the other Party proposes a written agreement of composition or extension of its debts, (c) or if the other Party will be served with an involuntary petition against it, filed in any insolvency proceeding, and such petition has will not been be dismissed within sixty (60) days after the filing thereof, (d) or if the other Party will propose or be a party Party to any dissolution or liquidation, (e) or if the other Party will make an assignment for the benefit of its creditors or (f) admit in writing its inability generally to meet its obligations as they fall due in the general coursecreditors.