Business Termination. I merge, dissolve, reorganize, end my business or existence, or a partner or majority owner dies or is declared legally incompetent.
Business Termination. Mortgagor merges, dissolves, reorganizes, ends its business or existence, or a partner or majority owner dies or is declared legally incompetent.
Business Termination. At JHA’s option, all of Licensee’s rights under this Agreement shall terminate, and the Software shall be returned to JXX if the ownership or management of Licensee or any of its subsidiaries changes by reason of voluntary or involuntary bankruptcy, receivership, conservatorship, custodianship, assignment for benefit of creditors, seizure of assets, liquidation, dissolution, ceasing to do business, or action by FDIC, RTC or other State or Federal authorities which would divest control from present ownership and management of Licensee. In the event JXX ceases to do business, the successor to JHA’s assets will be bound by this Agreement the same as JXX, and Licensee may continue to use the Software under all the terms and conditions of this Agreement. If there is no successor to JHA’s assets, then the Software shall become the non-exclusive proprietary product of Licensee subject to all of the confidentiality restrictions described in paragraph 11 above; except that Licensee may reveal Software and/or materials to third parties for the sole purpose of maintenance and customization of the Software for the sole use of Licensee, provided said third parties have signed similar written confidentiality restrictions.
Business Termination. In addition to any other rights or remedies hereunder, either Party may terminate this Agreement immediately by giving written notice to the other Party where the other Party: (i) makes any general assignment for the benefit of creditors; (ii) has a receiver and/or manager appointed over its assets (unless such appointment is being contested in good faith by appropriate proceedings); (iii) becomes bankrupt or insolvent or commits an act of bankruptcy or takes or attempts to take advantage of any law or statute for the relief of bankrupt or insolvent debtors; (iv) has a court order made for its winding-up (unless such order is being appealed in good faith by effective proceedings which result in at least a temporary stay of such order); or (v) ceases to carry on business.
Business Termination. I dissolve, reorganize, end my business or existence.
Business Termination. I merge, dissolve, reorganize, end my business or existence, or a partner or majority owner dies or is declared legally incompetent. D. Failure to Perform. I fail to perform any condition or to keep any promise or covenant of this Guaranty. E.
Business Termination. Borrower merges, dissolves, reorganizes or ends Xxxxxxxx’s business or existence.
Business Termination. In addition to any other rights or remedies hereunder, any Party may terminate this Agreement by giving a written notice to a Party who (I) makes any general assignment for the benefit of creditors or otherwise enters into any composition or arrangement with its creditors; (II) becomes bankrupt or insolvent or takes or attempts to take advantage of any law of statute for the relief of bankruptcy or insolvent debtors; or (III) ceases to carry on business.
Business Termination. In addition to any other rights or remedies hereunder, either Party may terminate this Agreement immediately giving written notice to the other Party where the other Party: (i) makes any general assignment for the benefit of creditors or otherwise enters into any composition or arrangement with its creditors; (ii) is unable to pay its debts as they mature; (iii) has a receiver and/or manager appointed over its assets or an application is made to do so; (iv) becomes bankrupt or insolvent or commits an act of bankruptcy or takes or attempts to take advantage of any law or statute for the relief of bankrupt or insolvent debtors; (v) commences or becomes subject to any process that might result in its bankruptcy or liquidation; (vi) has a resolution or a petition filed or an order made for its winding up; or (vii) ceases to carry on business.
Business Termination. (a) In connection with the Business Termination, and in order to effect the Business Termination in a timely and orderly manner, TRANRED anticipates that it is necessary for EVERTEC to provide, or cause to be provided, the termination transition services (the “Business Termination Services”). Additionally, TRANRED anticipates that it will be necessary for EVERTEC to provide, or cause to be provided, the transition and migration services, as well as data storage and related services to the clients listed in Schedule 2, subject to the terms and conditions set forth in the respective service agreements with said clients (the “Client Services” and together with the Business Termination Services, the “Termination Assistance Services”).
