Common use of Termination Upon Insolvency Clause in Contracts

Termination Upon Insolvency. This Agreement may be terminated by either Party upon notice to the other Party should such other Party: (i) consent to the appointment of a receiver or a general assignment for the benefit of creditors, or (ii) file or consent to the filing of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has not been stayed within [***] days of such filing.

Termination Upon Insolvency. This Agreement may be terminated by either Party upon notice to the other Party should such other Party: (ia) consent to the appointment of a receiver or a general assignment for the benefit of creditors, or (iib) file or consent to the filing of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has not been stayed within [***] sixty (60) days of such filing.

Termination Upon Insolvency. This Agreement may be terminated by either Party upon notice to the other Party should such other Party: (ia) consent to the appointment of a receiver or a general assignment for the benefit of creditors, or (iib) file or consent to the filing of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has not been stayed within [***] sixty (60) days of such filing. ----------------------------------- * Confidential treatment requested.

Termination Upon Insolvency. This Agreement may be terminated by either Party upon party giving written notice of termination to the other Party should such party if the other Party: (i) consent to party is adjudicated insolvent or upon the appointment of a receiver of substantially all of the other party's assets or a general the making by the other party of any assignment of substantially all of its assets for the benefit of creditors, or (ii) file or consent to . Termination shall be effective upon the filing date specified in such notice. Upon the occurrence of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has events of insolvency with respect to either party, the Trustee or such party as the Debtor in Possession shall not been stayed within [***] days of such filinginterfere with the other party's rights pursuant to this Agreement.

Termination Upon Insolvency. This Agreement may be terminated by either Party party upon notice to the other Party should such the other Party: party (ia) consent to the appointment of a receiver or a general assignment for the benefit of creditors, or (iib) file or consent to the filing of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has not been stayed within [***] sixty (60) days of such filing.

Termination Upon Insolvency. This Either party may terminate this Agreement may be terminated by either Party upon notice to if, at any time, the other Party should such other Party: (i) consent party shall 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 a general assignment for the benefit trustee of creditors, or (ii) file or consent to the filing of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has not been stayed within [***] days of such filing.that party -73-

Termination Upon Insolvency. This Agreement may be terminated immediately by either Party upon notice to party if the other Party should such other Partyparty: (i) consent admits in writing its inability to the appointment of a receiver or a general assignment for the benefit of creditorspay its debts generally as they become due, or (ii) file or consent to the filing of files a petition under any bankruptcy or insolvency law or have any such has a petition filed against it in bankruptcy or any similar action under relevant bankruptcy or insolvency proceedings which has is not been stayed dismissed within [***] days of such filing.ninety

Termination Upon Insolvency. This Either Party may terminate this Agreement may be terminated by either Party upon notice to if, at any time, (a) the other Party should such other Party: (i) consent shall 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 a general assignment for the benefit trustee of creditorsthat Party or of its assets, or (ii) file or consent to the filing of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has not been stayed within [***] days of such filingCertain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Termination Upon Insolvency. This Either party may terminate this Agreement may be terminated effective immediately by either Party upon giving written notice to the other Party should such other Partyparty if: (i) consent to the appointment of a receiver other party becomes insolvent or admits a general inability to pay its debts as they come due, or makes an assignment for the benefit of creditors, or ; (ii) file or consent to the filing of a petition under any bankruptcy act is filed by the other party; or insolvency law (iii) such a petition is filed by any third party or have any an application for a receiver of the other party is made by anyone and such petition filed against it which has or application is not been stayed dismissed within [***] days of such filingsixty days.

Termination Upon Insolvency. This Agreement Either Party may be terminated terminate this Agreement, effective upon delivery of written notice by either such Party upon notice to the other Party should such other Party: (ia) consent to upon the appointment institution of a receiver any insolvency, receivership or bankruptcy proceeding or any other proceedings of similar nature in respect of the other Party; (b) upon the making of a general assignment for the benefit of creditors, creditors by the other Party; or (iic) file upon the dissolution, liquidation or consent to winding-up of the filing of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has not been stayed within [***] days of such filingother Party.

Termination Upon Insolvency. This Either Party may terminate this Agreement may be terminated by either Party upon written notice to the Other, and regard the other Party should such as in default of this Agreement, if the other Party: (i) consent to the appointment of a receiver or Party becomes insolvent, makes a general assignment for the benefit of creditors, files a voluntary petition of bankruptcy, suffers or (ii) file or consent to permits the filing appointment of a petition receiver for its business or assets, or becomes subject to any proceeding under any bankruptcy or insolvency law law, whether domestic or have any such petition filed against it which foreign, or has not been stayed within [***] days of such filingwound up or liquidated its business, voluntarily or otherwise.

Termination Upon Insolvency. This Either party may terminate this Agreement may be terminated by either Party upon with written notice to the other Party should such immediately upon the filing by or against the non-terminating party of any action under the Federal Bankruptcy Act, or any other Party: (i) consent to Law or act regarding insolvency, reorganization, arrangement, or extension for the relief of debtors, including the assignment of assets for the benefit of creditors, and the appointment of a receiver or a general assignment trustee for the benefit of creditors, transfer or (ii) file or consent to the filing sale of a petition under any bankruptcy or insolvency law or have any such petition filed against it which has not been stayed within [***] days material portion of such filingthe non-terminating party's assets.