Common use of 00 - TERMINATION Clause in Contracts

00 - TERMINATION. 7.01 HomeLife may terminate this Agreement (except for the provisions of Articles 7.02 and 12.01, which shall continue in full force and effect) at any time, effective immediately upon receipt by the Participating Independent Broker of Notice of Termination if (a) the Participating Independent Broker should default in the payment of any amounts required to be paid by it to HomeLife under this Agreement and fails to cure such default within fifteen (15) days of receipt of notice of default from HomeLife; (b) the Participating Independent Broker defaults in the performance of any of its other obligations under this Agreement and fails to cure such default within thirty (30) days of receiving notice of default from HomeLife; (c) the Participating Independent Broker becomes insolvent or makes an assignment for the benefit of creditors, or a petition is filed against, and consented to, or the Participating Independent Broker is adjudicated a bankrupt or insolvent, or a ▇▇▇▇ in equity or other proceedings for the appointment of a receiver or other custodian of the Participating Independent Broker or its Business or assets is filed and consented to by the Participating Independent Broker, or a receiver or other custodian (permanent or temporary) of the Participating Independent Broker's assets or property or any part thereof is appointed by a court of competent jurisdiction, or a proceeding for a new composition with creditors under any state or federal law is instituted by or against the Participating Independent Broker; (d) the license or registration (under the applicable state laws governing real estate and business brokers) of either the Participating Independent Broker or the manager of the Office is terminated or expires; or (e) the Participating Independent Broker ceases, or takes any steps to cease, the operation of the Business.