Common use of For Insolvency Clause in Contracts

For Insolvency. In addition to the termination rights set forth in Sections 8(a) and 8(b), subject to the provisions of Xxxxx 00, Xxxxxx Xxxxxx Code, if either party becomes or is declared insolvent or bankrupt; is the subject of any proceedings relating to its liquidation, insolvency, or for the appointment of a receiver or similar officer for it, makes an assignment for the benefit of all or substantially all of its creditors; enters into an agreement for the composition, extension, or readjustment of all or substantially all of its obligations; or is subject to regulatory sanction by any Federal Regulator, then the other party may, by giving written notice to such party, may terminate this Agreement as of a date specified in such notice of termination; provided that the foregoing shall not apply with respect to any involuntary petition in bankruptcy filed against a party unless such petition is not dismissed within sixty (60) days of such filing.

For Insolvency. In addition to the termination rights set forth in Sections 8(a) 11.1 and 8(b)11.2, subject to the provisions of Xxxxx 00, Xxxxxx Xxxxxx Code, if either party becomes or is declared insolvent or bankrupt; , is the subject of to any proceedings relating to its liquidation, insolvency, insolvency or for the appointment of a receiver or similar officer for it, makes an assignment for the benefit of all or substantially all of its creditors; , or enters into an agreement for the composition, extension, or readjustment of all or substantially all of its obligations; , or is subject to regulatory sanction by any Federal Regulator, then the other party may, by giving written notice to such party, may terminate this Agreement as of a date specified in such notice of termination; provided that the foregoing shall not apply with respect to any involuntary petition in bankruptcy filed against a party unless such petition is not dismissed within sixty (60) days of such filing.

For Insolvency. In addition to the termination rights set forth in -------------- Sections 8(a) 9.1 and 8(b)9.2, subject to the provisions of Xxxxx 00, Xxxxxx Xxxxxx Code, if either party becomes or is declared insolvent or bankrupt; , is the subject of to any proceedings relating to its liquidation, insolvency, insolvency or for the appointment of a receiver or similar officer for it, makes an assignment for the benefit of all or substantially all of its creditors; , or enters into an agreement for the composition, extension, or readjustment of all or substantially all of its obligations; , or is subject to regulatory sanction by any Federal Regulator, then the other party may, by giving written notice to such party, may terminate this Agreement as of a date specified in such notice of termination; provided that the foregoing shall not apply with respect to any involuntary petition in bankruptcy filed against a party unless such petition is not dismissed within sixty (60) days of such filing.

For Insolvency. In addition to the termination rights set forth in Sections 8(a) 8.1 and 8(b)8.2, subject to the provisions of Xxxxx 00, Xxxxxx Xxxxxx Code, if either party becomes or is declared insolvent or bankrupt; , is the subject of to any proceedings relating to its liquidation, insolvency, insolvency or for the appointment of a receiver or similar officer for it, makes an assignment for the benefit of all or substantially all of its creditors; , or enters into an agreement for the composition, extension, or readjustment of all or substantially all of its obligations; , or is subject to regulatory sanction by any Federal Regulator, then the other party may, by giving written notice to such party, may terminate this Agreement as of a date specified in such notice of termination; provided that the foregoing shall not apply with respect to any involuntary petition in bankruptcy filed against a party unless such petition is not dismissed within sixty (60) days of such filing.

For Insolvency. In addition to the termination rights set forth in Sections 8(a) 8.1 and 8(b)8.2, subject to the provisions of Xxxxx 00, Xxxxxx Xxxxxx Code, if either party becomes or is declared insolvent or bankrupt; , is the subject of to any proceedings relating to its liquidation, insolvency, insolvency or for the appointment of a receiver or similar officer for it, makes an assignment for the benefit of all or substantially all of its creditors; , or enters into an agreement for the composition, extension, or readjustment of all or substantially all of its obligations; , or is subject to regulatory sanction by any Federal Regulator, then the other party may, by giving written notice to such party, may terminate this Agreement as of a date specified in such notice of termination; provided that the foregoing shall not apply with respect to any involuntary petition in bankruptcy filed against a party unless such petition is not dismissed within sixty (60) days of such filing. In the event Client terminates the Agreement in accordance with this Section 8.3, no Termination Fee shall be due.

For Insolvency. In addition to the termination rights set forth in Sections 8(a) 11 .I and 8(b)11.2, subject to the provisions of Xxxxx 00, Xxxxxx Xxxxxx Code, if either party becomes or is declared insolvent or bankrupt; , is the subject of to any proceedings relating to its liquidation, insolvency, insolvency or for the appointment of a receiver or similar officer for it, makes an assignment for the benefit of all or substantially all of its creditors; , or enters into an agreement for the composition, extension, or readjustment of all or substantially all of its obligations; , or is subject to regulatory sanction by any Federal Regulator, then the other party may, by giving written notice to such party, may terminate this Agreement as of a date specified in such notice of termination; provided that the foregoing shall not apply with respect to any involuntary petition in bankruptcy filed against a party unless such petition is not dismissed within sixty (60) days of such filing.

For Insolvency. In addition to the termination rights set forth in Sections 8(a) 8.1 and 8(b)8.2, subject to the provisions of Xxxxx Titlx 00, Xxxxxx Xxxxxx CodeXxxe, if either party becomes or is declared insolvent or bankrupt; , is the subject of to any proceedings relating to its liquidation, insolvency, insolvency or for the appointment of a receiver or similar officer for it, makes an assignment for the benefit of all or substantially all of its creditors; , or enters into an agreement for the composition, extension, or readjustment of all or substantially all of its obligations; , or is subject to regulatory sanction by any Federal Regulator, then the other party may, by giving written notice to such party, may terminate this Agreement as of a date specified in such notice of termination; provided that the foregoing shall not apply with respect to any involuntary petition in bankruptcy filed against a party unless such petition is not dismissed within sixty (60) days of such filing.

For Insolvency. In addition to the termination rights set forth in Sections 8(a) 8.1 and 8(b)8.2, subject to the provisions of Xxxxx Txxxx 00, Xxxxxx Xxxxxx Code, if either party becomes or is declared insolvent or bankrupt; , is the subject of to any proceedings relating to its liquidation, insolvency, insolvency or for the appointment of a receiver or similar officer for it, makes an assignment for the benefit of all or substantially all of its creditors; , or enters into an agreement for the composition, extension, or readjustment of all or substantially all of its obligations; , or is subject to regulatory sanction by any Federal Regulator, then the other party may, by giving written notice to such party, may terminate this Agreement as of a date specified in such notice of termination; provided that the foregoing shall not apply with respect to any involuntary petition in bankruptcy filed against a party unless such petition is not dismissed within sixty (60) days of such filing.