Common use of Corporate Dissolution Clause in Contracts

Corporate Dissolution. Either party may terminate this Agreement in the event the other party makes an arrangement or composition with its creditors generally or makes an application to a court of competent jurisdiction for protection from its creditors generally or a bankruptcy order is made against the other party or a resolution is passed by it for its winding up, a court of competent jurisdiction makes an order for its winding-up or dissolution, an administration order is made in relation to it or a receiver is appointed over (or an encumbrance takes possession of or sells) any of its assets.

Corporate Dissolution. Either party may terminate this Agreement in the event the other party makes an arrangement or composition with its creditors generally generally, or makes an application to a court of competent jurisdiction for protection from its creditors generally or a bankruptcy order is made against the other party party, or a resolution is passed by it for its winding up, a court of competent jurisdiction makes an order for its winding-up or dissolution, an administration order is made in relation to it it, or a receiver is appointed over (or an encumbrance takes possession of or sells) any of its assets.