Default: Insolvency Sample Clauses


Default: Insolvency. Notwithstanding any other provision of this Agreement, if Distributor is the subject of any judicial or non-judicial bankruptcy or insolvency proceeding, or becomes insolvent, or if a receiver, liquidator or administrator of the Distributor’s property or any part thereof is appointed by a court of competent authority, or if Distributor shall make an assignment for the benefit of creditors, Company may terminate this Agreement by giving written notice to the Distributor, its legal representative or assigns, as the case may be. Any termination, whether for default or otherwise, shall not relieve Distributor from liability for amounts owed to Company.