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 becomes insolvent or an order is made or a resolution passed for the administration, winding-up or dissolution of such other Party (other than for the purposes of a solvent amalgamation or reconstruction) or an Insolvency Officer is appointed over all or any substantial part of the assets of such other Party or such other Party enters into or proposes any composition or arrangement with its creditors generally or anything analogous to the foregoing occurs in any applicable jurisdiction.

Termination Upon Bankruptcy. Either Party may immediately terminate this Agreement if, at any time, the other Party becomes insolvent or an order is made or a resolution passed for the administration, winding-up or dissolution of such other Party (other than for the purposes of a solvent amalgamation or reconstruction) or an Insolvency Officer administrative or other receiver, manager, liquidator, administrator, trustee or similar officer is appointed over all or any substantial part of the assets of such other Party or such other Party enters into or proposes any composition or arrangement with its creditors generally or anything analogous to the foregoing occurs in any applicable jurisdiction.

Termination Upon Bankruptcy. Either Each Party may shall have the right to terminate this Agreement if, at any time, if the other Party (the "Bankrupt Party") becomes insolvent or an order a petition in bankruptcy or for corporate reorganization or for any similar relief is made filed by or a resolution passed for the administration, winding-up or dissolution of against such other Party (other than for the purposes of or a solvent amalgamation or reconstruction) or an Insolvency Officer receiver is appointed over all or with respect to any substantial part of the assets of such other Party or a liquidation proceeding is commenced by or against such other Party enters into or proposes any composition or arrangement with its creditors generally or anything analogous to the foregoing occurs in any applicable jurisdictionParty.

Termination Upon Bankruptcy. Either Party may terminate this Agreement if, at any time, any Insolvency Event occurs in relation to the other Party becomes insolvent or an order is made or a resolution passed for the administration, winding-up or dissolution of such other Party (other than for the purposes of a solvent amalgamation or reconstruction) or an Insolvency Officer is appointed over all or any substantial part of the assets of such other Party or such other Party enters into or proposes any composition or arrangement with its creditors generally or anything analogous to the foregoing occurs in any applicable jurisdictionParty.

Termination Upon Bankruptcy. 10.3.1 Either Party may shall have the right to terminate this Agreement if, at any time, if the other Party becomes insolvent or an order a petition in bankruptcy or for corporate reorganization or for any similar relief is made filed by, on behalf of, or a resolution passed for the administration, winding-up or dissolution of against such other Party (other than for the purposes of or a solvent amalgamation or reconstruction) or an Insolvency Officer receiver is appointed over all or with respect to any substantial part of the assets of such other Party or a liquidation proceeding is commenced by or against such other Party enters into or proposes any composition or arrangement with its creditors generally or anything analogous to the foregoing occurs in any applicable jurisdictionParty.

Termination Upon Bankruptcy. Either This Agreement may be terminated by either Party may terminate this Agreement ifwith immediate effect upon the filing of a petition in bankruptcy, at any time, insolvency or reorganization against or by the other Party becomes insolvent or an order is made or a resolution passed for the administrationParty, winding-up or dissolution of such other Party (other than for the purposes of a solvent amalgamation or reconstruction) or an Insolvency Officer is appointed over all or any substantial part of the assets of such other Party or such other Party enters becoming subject to a composition for creditors, whether by law or agreement, or such other Party going into receivership or proposes otherwise becoming insolvent, or any composition or arrangement with its creditors generally or anything analogous to event occurring under the foregoing occurs laws of the jurisdiction in any applicable jurisdictionwhich a Party is incorporated.

Termination Upon Bankruptcy. Either Party may terminate this Agreement if, at any time, the other Party becomes insolvent or an order is made or a resolution passed for the administration, winding-up or dissolution of such other Party (other than for the purposes of a solvent amalgamation or reconstruction) or an Insolvency Officer administrative or other receiver, manager, liquidator, administrator, trustee or similar officer is appointed over all or any substantial part of the assets of such other Party or such other Party enters into or proposes any composition or arrangement with its creditors generally or anything analogous to the foregoing occurs in any applicable jurisdiction.