Common use of Insolvency Clause in Contracts

Insolvency. Either Party may terminate this Agreement in the event that the other Party becomes insolvent, makes an assignment to the benefit of creditors, or has a petition in bankruptcy filed for or against it.

Insolvency. Either Party party may terminate this Agreement in the event that the other Party party becomes insolventinsolvent or bankrupt; becomes the subject of any proceedings under bankruptcy, insolvency or debtor’s relief law; has a receiver or manager appointed; makes an assignment to for the benefit of creditors, ; or has a petition takes the benefit of any applicable law or statute in bankruptcy filed force for the winding up or against itliquidation of such party’s business.

Insolvency. Either Party party may terminate this Agreement in the event that by written notice to the other Party if the other party becomes insolvent, makes an a general assignment to for the benefit of creditors, permits the appointment of a receiver for its business or has a petition in bankruptcy filed for assets, or against ittakes steps to wind up or terminate its business.

Insolvency. Either Party party may terminate this Agreement immediately in the event that its entirety if the other Party becomes insolventfiles a petition of bankruptcy, makes an is adjudged bankrupt, takes advantage of any insolvency act, or executes a xxxx of sale, deed of trust, or assignment to for the benefit of creditors, or has a petition in bankruptcy filed for or against it.

Insolvency. Either Party party may terminate this Agreement in the event that if (i) the other Party becomes insolvent, party has a receiver appointed for it or its property; (ii) the other party makes an assignment to for the benefit of creditors; (iii) any proceedings are commenced by, or has a petition in bankruptcy filed for or against itthe other party under any bankruptcy, insolvency or debtor's relief law; or (iv) the other party is liquidated or dissolved.

Insolvency. Either Party may terminate this Agreement in the event that immediately if the other Party becomes insolvent, makes an a general assignment to for the benefit of creditors, suffers or has permits an appointment of a petition in receiver for its business or assets, becomes subject to any proceedings under any bankruptcy filed for or against itinsolvency law, whether domestic or foreign, or is liquidated, voluntarily or otherwise.

Insolvency. Either Party party may terminate this Agreement by notice, in the event that writing, if the other Party becomes insolventparty admits insolvency, makes an assignment to for the benefit of creditors, or has a petition in bankruptcy filed for trustee or against itreceiver appointed over all or any substantial part of its assets.

Insolvency. Either Party party may terminate this Agreement in the event that if (i) the other Party becomes insolvent, party has a receiver appointed for it or its property; (ii) the other party makes an assignment to for the benefit of creditors; (iii) any proceedings are commenced by, or has a petition in bankruptcy filed for or against it.the other party under any bankruptcy, insolvency or debtor's relief law; or

Insolvency. Either Party party may terminate this Agreement in the event that if the other Party becomes insolvent, party is insolvent or makes an assignment to for the benefit of creditors, or has a petition in bankruptcy filed for or against it.

Insolvency. Either Party may terminate this the Agreement in the event that if the other Party becomes insolvent, makes an a voluntary or involuntary general assignment to of its assets for the benefit of creditors, or has a petition in bankruptcy is filed for by or against itthe other Party and is not dismissed in [*****] days, or a receiver or trustee is appointed for all or any part of the other Party’s property.

Insolvency. Either Party party may terminate this Agreement in on the event that liquidation, bankruptcy or insolvency of the other Party becomes insolventparty or the appointment of a receiver or trustee for the property of the other party, or if the other party makes an assignment to for the benefit of creditors, whether any of the aforesaid events are the outcome of a voluntary act or has otherwise. In the event that a petition in party files for bankruptcy filed for or against itand such party’s trustee rejects this Agreement, the other party may elect to retain its rights under this Agreement upon appropriate written notification to said trustee.

Insolvency. Either Party may immediately terminate this Agreement in the event that writing if the other Party becomes insolventceases to carry on business, makes an assignment is unable to the benefit of creditorspay its debts when they fall due, is declared bankrupt, or has an order is made or a petition in bankruptcy filed resolution passed for the winding up of that other Party or against itthe appointment of an administrator, receiver, liquidator, or manager of that other Party.

Insolvency. Either Party party may terminate this Agreement in the event that Agreement, upon written notice to the other Party becomes insolventparty, makes an assignment if such other party is subject to proceedings in bankruptcy or insolvency, voluntarily or involuntarily, if a receiver is appointed with or without the benefit other party’s consent, if the other party assigns its property to its creditors or performs any other act of creditorsbankruptcy, or has a petition in bankruptcy filed for or against itif the other party becomes insolvent and cannot pay its debts when they are due.

Insolvency. Either Party party may terminate this Agreement by notice ---------- in writing effective upon delivery in the event that the other Party becomes party is insolvent, makes an assignment to for the benefit of creditors, is unable to pay debts as they mature, files or has filed against it a petition in any court setting forth or alleging any of the foregoing (providing such allegation is not being contested in good faith), or has a petition in bankruptcy filed for trustee or against itreceiver or officer of the court appointed to control or supervise all or any substantial part of its assets or business.

Insolvency. Either Party may immediately terminate this the Agreement in the event that if the other Party becomes insolventadmits in writing its inability to pay its debts as they become due, makes an a general assignment to for the benefit of its creditors, institutes or has a petition agrees to the institution of proceedings in bankruptcy filed for or against itinsolvency, or is the subject of a court order relating thereto.

Insolvency. Either Party party may terminate this Agreement effective upon written notice to the other in the event that of the other Party becomes insolventother's insolvency, makes adjudication of bankruptcy or the filing of a Petition for voluntary Or involuntary bankruptcy of the other, or the other's making of an arrangement with or an assignment to for the benefit of creditors, creditors or has the appointment of a petition in bankruptcy filed receiver or trustee for or against itthe assets of the other.

Insolvency. Either Party party may immediately terminate this Agreement in the event that the other Party party becomes bankrupt or insolvent, makes an assignment to within the benefit meaning of the United States Bankruptcy Code or any substantial and relevant portion of its assets are included in any arrangement with its creditors, an order to windup or has submission to control by a petition in bankruptcy filed receiver, assignee or trustee for the purpose of preserving the assets, whether by the voluntary act of the affected party or against itotherwise.

Insolvency. Either Party may terminate this Agreement Agreement, upon written notice to the other Party, if such other Party is subject to proceedings in bankruptcy or insolvency, voluntarily or involuntarily, if a receiver is appointed with or without the event that other Party’s consent, if the other Party assigns its property to its creditors or performs any other act of bankruptcy or if the other Party becomes insolvent, makes an assignment to the benefit of creditors, or has a petition in bankruptcy filed for or against itinsolvent and cannot pay its debts when they are due.

Insolvency. Either Party may terminate this Agreement in the event that if the other Party becomes insolventis involved in insolvency proceedings, makes an receivership, examinership, administration, bankruptcy, or assignment to for the benefit of creditors, creditors (or has a petition other equivalent process or proceedings in bankruptcy filed for or against itany jurisdiction).

Insolvency. Either Party may terminate this Agreement immediately in the event that its entirety if the other Party becomes insolventfiles a petition of bankruptcy, makes an is adjudged bankrupt, takes advantage of any insolvency act, or executes a xxxx of sale, deed of trust, or assignment to for the benefit of creditors, or has a petition in bankruptcy filed for or against it.

Insolvency. Either Party This Agreement may terminate this Agreement in the event that be terminated by a party if the other Party becomes insolventparty is at any time placed into bankruptcy, goes into voluntary dissolution, has a receiver appointed, or makes an any general assignment to for the benefit of creditors, or has admits of a petition in bankruptcy filed for or against it.general inability to pay its debts as they become due. By the HESP Alliance:

Insolvency. Either Party may terminate this Agreement Agreement, in the event that whole or in part, as allowed by law, if the other Party Party: (a) becomes insolventor is declared insolvent or is the subject of any liquidation or insolvency proceedings, makes an assignment to including, but not limited to, the benefit appointment of creditors, a receiver or has a petition in bankruptcy filed similar officer for or against it.such Party;

Insolvency. Either Party may terminate this Agreement in the event that if the other Party becomes insolventis involved in insolvency proceedings, makes an receivership, bankruptcy, or assignment to for the benefit of creditors, or has a petition in bankruptcy filed for or against it.

Insolvency. Either Party party may terminate this Agreement in the event that by written notice to the other Party if the other party becomes insolvent, makes an a general assignment to for the benefit of creditors, permits the appointment of a receiver for its business or. assets, or has a petition in bankruptcy filed for takes steps to wind up or against itterminate its business.

Insolvency. Either Party party may terminate this Agreement effective upon written notice to the other in the event that of the other Party becomes insolventother's insolvency, makes adjudication of bankruptcy or the filing of a petition for voluntary or involuntary bankruptcy of the other, or the other's making of an arrangement with or an assignment to for the benefit of creditors, creditors or has the appointment of a petition in bankruptcy filed receiver or trustee for or against itthe assets of the other.

Insolvency. Either Party party may terminate this Agreement immediately in the event that ----------- its entirety if the other Party becomes insolventfiles a petition of bankruptcy, makes an is adjudged bankrupt, takes advantage of any insolvency act, or executes a xxxx of sale, deed of trust, or assignment to for the benefit of creditors, or has a petition in bankruptcy filed for or against it.

Insolvency. Either This Agreement may be terminated by a Party may terminate this Agreement in the event that another Party, to the other Party becomes insolventextent permissible under applicable and prevailing law, files or has filed against it a petition under the U.S. Bankruptcy Act, makes an assignment to for the benefit of creditors, or has a petition in bankruptcy filed receiver appointed for it or against ita substantial part of its assets or otherwise takes advantage of any statute or law designed for relief of debtors.

Insolvency. Either Party may terminate this This Agreement shall be terminated in the event that the other Party either party becomes insolvent, files a petition in bankruptcy, files a petition seeking reorganization, arrangement, or any similar relief available at law regarding insolvency or relief from debtors, or makes an assignment to for the benefit of creditors, or has if a petition in bankruptcy filed receiver, trustee, or similar officer is appointed for the business or against itproperty of either party.

Insolvency. Either Party may terminate this Agreement in the event that the other Party becomes insolvent, makes an assignment to the benefit of creditors, or has a petition in bankruptcy filed for or against it.it.‌

Insolvency. Either To the extent permitted under applicable Law, either Party may terminate this Agreement by written notice in the event that the other Party becomes insolvent, makes an assignment to the benefit of creditors, or has a petition in bankruptcy filed for or against itBankruptcy Event.

Insolvency. Either Party party may terminate this Agreement in the event that if the other Party party becomes insolventinsolvent or bankrupt; becomes the subject of any proceedings under bankruptcy, insolvency, or debtor’s relief law; has a receiver or manager appointed; makes an assignment to for the benefit of creditors, ; or has a petition takes the benefit of any applicable law or statute in bankruptcy filed force for the winding up or against itliquidation of such party’s business.

Insolvency. Either Party may immediately terminate this Agreement by giving written notice to the other Party in the event that the such other Party dissolves, ceases to conduct business in the ordinary course (or threatens to so cease to conduct business), becomes insolvent, makes an assignment to for the benefit of creditors, has a trustee or receiver appointed to take custody of its assets, or files or has filed against it a petition in bankruptcy filed or for reorganization under any state or against itfederal bankruptcy or insolvency law.

Insolvency. Either Party This Agreement may terminate this Agreement be terminated for cause by either party in the event that the other Party becomes party shall become insolvent, makes an assignment ; admits in writing its inability to pay its debts as they mature; or ceases to function as a going concern or to conduct its operations in the benefit normal course of creditors, or has a petition in bankruptcy filed for or against itbusiness.

Insolvency. Either Party may terminate this Agreement in the event that the other Party becomes insolvent, insolvent or makes an assignment to for the general benefit of creditorsauditors, or has a petition in bankruptcy filed for any proceedings shall be commenced by or against ita Party under any bankruptcy or insolvency laws or proceedings for the appointment of a receiver or a receiver-manager or any other official with similar powers for such Party or if such Party ceases to carry on business.

Insolvency. Either Party may terminate this Agreement immediately upon notice to the other Party in the event that of (i) the filing by the other Party becomes insolvent, makes an of a petition in bankruptcy or for liquidation; (ii) the request for or appointment of a receiver for the other Party; (iii) execution upon any portion of the other Party’s business or assets; (iv) the other Party’s arrangement with or assignment to for the benefit of creditors, ; or has a petition in bankruptcy filed for or against it(v) the other Party becoming unable to meet its obligations as they become due.

Insolvency. Either Party Notwithstanding any other provision of this Agreement, a party may immediately terminate this Agreement in the event that by providing written notice of termination to the other Party becomes insolvent, makes an assignment to party if (a) the benefit of creditors, or has other party voluntarily files a petition in bankruptcy, (b) an involuntary bankruptcy petition is filed against the other party, (c) the other party has a receiver appointed for its business or against itproperty or (d) the other party has an assignee or trustee appointed under the laws of the United States of America or any state.

Insolvency. Either Party In addition to and not in conflict with the provisions in Section 14 of this Agreement, either party may terminate this Agreement in the event that if the other Party party becomes insolvent, makes an a general assignment to for the benefit of creditors, suffers or permits the appointment of a receiver for its business or assets, becomes subject to any proceeding under any bankruptcy or insolvency law whether domestic or foreign, or has a petition in bankruptcy filed for wound up or against itliquidated, voluntarily or otherwise.

Insolvency. Either Party party may terminate this Agreement without penalty in the event that the other Party party becomes insolventinsolvent or bankrupt; becomes the subject of any proceedings under bankruptcy, insolvency or debtor's relief law; has a receiver or manager appointed; makes an assignment to for the benefit of creditors, ; or has a petition takes the benefit of any applicable law or statute in bankruptcy filed force for the winding up or against itliquidation of such party's business. Events Termination.

Insolvency. Either Party This Agreement may terminate this Agreement be terminated by either party on written notice to the other in the event that of any assignment by the other Party becomes insolvent, makes an assignment to party for the benefit of creditors, or has if a receiver, trustee in bankruptcy or similar officer is appointed to take charge of a material portion of the other party’s property or if the other party files a voluntary petition under federal bankruptcy laws or similar state statutes or such a petition in bankruptcy is filed for or against itthe other party and is not dismissed within ninety days.

Insolvency. Either Party Any party may terminate this Agreement in the event that upon notice to the other Party party if the other party becomes insolvent, makes asks its creditors for a moratorium, files a voluntary petition in bankruptcy, is adjudicated bankrupt pursuant to an assignment to the benefit of creditorsinvoluntary petition, or has suffers appointment of a petition in bankruptcy filed temporary or permanent receiver, trustee or custodian for all or against ita substantial part of its assets that is not discharged within 60 days.

Insolvency. Either A Party may terminate this Agreement Agreement, effective upon written notice to the other Party, in the event that of (a) the bankruptcy or dissolution of the other Party; (b) the other Party becomes insolvent, makes an making a general assignment to for the benefit of its creditors; or (c) the appointment of a trustee, conservator, receiver, or has similar fiduciary for the other Party or substantially all of the assets of the other Party as a petition in bankruptcy filed for or against itresult of the other Party’s insolvency.

Insolvency. Either Party party may terminate this Agreement effective upon written Notice in the event that of the other Party becomes insolventother's insolvency, makes commission of an act of bankruptcy, adjudication of bankruptcy or the filing of a petition for voluntary or involuntary bankruptcy of or by the other, or the other's making of an arrangement with or assignment to for the benefit of creditors, creditors or has the appointment of a petition in bankruptcy filed receiver or trustee for or against itthe assets of the other.

Insolvency. Either Party 14.8 A party to the Agreement may terminate this the Agreement by in the event that bankruptcy or insolvency proceedings are brought against the other Party becomes insolvent, makes an assignment to the benefit of creditorsparty, or has if an arrangement with creditors is made, or a petition in bankruptcy filed for receiver or against itadministrator is appointed over any of or the other party goes into liquidation.

Insolvency. Either Party party may terminate this Agreement in the event that if the other Party party becomes insolvent, or admits in writing its inability to pay its debts as they become due, or makes an a general assignment to for the benefit of creditors, commences any case, proceeding or has a petition in bankruptcy filed other action seeking reorganization, liquidation, or dissolution of itself, or adopts an arrangement with creditors, under any bankruptcy, moratorium, rearrangement, insolvency, reogranization or similar law of the United States of any state thereof for the relief of creditors or against itaffecting the rights or remedies of creditors generally.

Insolvency. Either Party 14.7 A party to the Agreement may terminate this the Agreement by providing notice in writing in the event that bankruptcy or insolvency proceedings are brought against the other Party becomes insolvent, makes an assignment to the benefit of creditorsparty, or has if an arrangement with creditors is made, or a petition in bankruptcy filed for receiver or against itadministrator is appointed over any of the other party’s assets, or the other party goes into liquidation.

Insolvency. Either Party party may terminate this Agreement in the event that upon written notice to the other Party party if the other party becomes insolvent, makes an a general assignment to for the benefit of creditors, files a voluntary petition of bankruptcy, suffers or permits the appointment of a receiver for its business or assets, or becomes subject to any proceeding under any bankruptcy or insolvency law, whether domestic or foreign, or has a petition in bankruptcy filed for wound up or against itliquidated, voluntarily or otherwise.

Insolvency. Either Party may terminate this Agreement in the event that the other Party becomes insolvent, makes an assignment to the benefit of creditors, or has a petition in bankruptcy filed for or against it.

Insolvency. Either Party may immediately terminate this Agreement Agreement, upon written notice to the other Party, if such other Party is subject to proceedings in bankruptcy or insolvency, voluntarily or involuntarily, if a receiver or trustee is appointed with or without the event that other Party's consent, if the other Party assigns its property to its creditors or performs any other act of bankruptcy or if the other Party becomes insolvent, makes an assignment to the benefit of creditors, or has a petition in bankruptcy filed for or against itinsolvent and cannot pay its debts when they are due.

Insolvency. Either This Agreement may be terminated by either ---------- Party may terminate this Agreement in immediately upon notice to the event that other, if the other Party becomes insolvent, makes shall make an assignment to for the benefit of creditors, or has shall file a petition in bankruptcy filed for bankruptcy, is adjudicated insolvent or bankrupt, or if a receiver or trustee is appointed with respect to a substantial part of such other Party's property or a proceeding is commenced against itit which will substantially impair its ability to perform hereunder.

Insolvency. Either Party may terminate this Agreement by notice, in the event that writing, if the other Party becomes insolventadmits insolvency, makes an assignment to for the benefit of creditors, or has a petition in bankruptcy filed for trustee or against itreceiver appointed over all or any substantial part of its assets.

Insolvency. Either Party party may terminate this Agreement agreement in the event that the other Party party becomes insolventinsolvent or bankrupt; becomes the subject of any proceedings under bankruptcy, insolvency or debtor's relief law; has a receiver or manager appointed; makes an assignment to for the benefit of creditors, ; or has a petition takes the benefit of any applicable law or statute in bankruptcy filed force for the winding up or against it.liquidation of such party's business; or

Insolvency. Either Party may terminate te1minate this Agreement in the event that the other Party becomes insolvent, makes an assignment to the benefit of creditors, or has a petition in bankruptcy filed for or against it.

Insolvency. Either Party may terminate this Agreement immediately in the event that its entirety if the other Party becomes insolventfiles a petition for bankruptcy, makes an is adjudged bankrupt, takes advantage of any insolvency statute, or executes a xxxx of sale, deed of trust or assignment to for the benefit of creditors, or has a petition in bankruptcy filed for or against it.

Insolvency. Either Party party may terminate this Agreement by notice, in the event that writing, if the other Party becomes insolventparty admits insolvency, makes an assignment to for the benefit of creditors, or has a petition in bankruptcy filed for trustee or against itreceiver appointed over all or any substantial part of its assets.

Insolvency. Either If either Party may shall file a petition in bankrupt, reorganization, liquidation or similar proceedings or if either Party shall be adjudged bankruptcy, insolvent or similar ruling by any court, the other Party may, at its sole option, terminate this Agreement in the event by written notice to that the other Party becomes insolvent, makes an assignment to the benefit of creditors, or has a petition in bankruptcy filed for or against iteffect.

Insolvency. Either Party may immediately terminate this Agreement in the event that if the other Party becomes insolventadmits in writing its inability to pay its debts as they become due, makes an a general assignment to for the benefit of its creditors, institutes or has a petition agrees to the institution of proceedings in bankruptcy filed for or against itinsolvency, or is the subject of a court order relating thereto.