Common use of Group’s Bankruptcy Clause in Contracts

Group’s Bankruptcy. If bankruptcy, receivership or liquidation proceedings are commenced with respect to the Group, and if this Contract has not otherwise been terminated, then SHP may suspend all further performance of this Contract pursuant to Section 365 of the Bankruptcy Code (11 U.S.C. § 365) or any similar or successor provision of federal or state law. Any such suspension of further performance by SHP pending the assumption or rejection of the Contract shall not be deemed a breach of the Contract and shall not affect SHP’s right to pursue or enforce any of the rights under this Contract or otherwise.