Impact Event Clause Samples

Impact Event. Impact Event" shall mean (a) any rejection or termination of the Publishing Agreement or this Agreement by Author or its successors or representatives in breach of the provisions of the Publishing Agreement or this Agreement, including in all events any rejection or termination of the Publishing Agreement or any proposal to do so under Title 11 of the United States Code, as now constituted or hereafter amended (the "Bankruptcy Code"), or any other federal or state bankruptcy, insolvency, receivership, or similar law; (b) failure of a trustee, including Author as debtor in possession, in any bankruptcy case hereafter filed by or against Author either to assume the Publishing Agreement and this Agreement within fifteen (15) days after the filing of the initial bankruptcy petition or to perform the Publishing Agreement and this Agreement within the meaning of Section 365(a)(4)(I) of the Bankruptcy Code; (c) the termination of substantially all of Author's ongoing business operations relating to the subject matter of the Publishing Agreement and this Agreement; (d) any liquidation of Author, or any sale, assignment, or foreclosure of or upon assets that are necessary for the performance by Author of its responsibilities under the Publishing Agreement and this Agreement; and (e) any failure of Author to cure a breach by Author within the cure period specified in the Publishing Agreement.