Common use of Premature Termination Clause in Contracts

Premature Termination. Either party may terminate the Agreement between the parties with immediate effect; • in the event of a material breach by the other party of its obligations under the Agreement between the parties and the breaching party failing to remedy such breach within thirty (30) days of receipt of written notice specifying the material breach; or • if the other party petitions for bankruptcy or is declared bankrupt, goes into liquidation or if a receiver is appointed for any part of the other party’s business.

Premature Termination. Either Each party may has the right to immediately terminate the Agreement between the parties with immediate effect; • in the event of a material breach by if the other party is in material breach of its obligations under this Agreement and not within 30 days after a written request received from the Agreement between the parties and the breaching party failing to remedy such breach within thirty (30) days of receipt of written notice specifying the material breach; other Party has taken corrective action, or • if the other party petitions for bankruptcy or is declared bankrupt, goes into liquidation commences composition negotiations, is subject to reorganization or if a receiver is appointed for any part of the other party’s businessotherwise insolvent.

Premature Termination. Either party may 6.1 This Agreement shall automatically terminate the Agreement between the parties with immediate effect; • in the event of a material breach by immediately if the other party Party becomes insolvent, files for bankruptcy, takes advantage of any legal scheme or arrangement for the satisfaction of creditors, adopts a resolution for the liquidation of its obligations under the Agreement between the parties assets, or if a petition in bankruptcy, for receivership or for winding up is taken by it or against it and the breaching party failing to remedy such breach is not rejected or withdrawn within thirty (30) days of receipt of written notice specifying the material breach; or • if the other party petitions for bankruptcy or is declared bankrupt, goes into liquidation or if a receiver is appointed for any part of the other party’s businessfrom its inception.

Premature Termination. Either party may terminate the Agreement between the parties with immediate effect; effect • in the event of a material breach by the other party of its obligations under the Agreement between the parties and the breaching party failing to remedy such breach within thirty (30) days of receipt of written notice specifying the material breach; , or • if the other party petitions for bankruptcy or is declared bankrupt, goes into liquidation or if a receiver is appointed for any part of the other party’s business.

Premature Termination. Either 24.1. Each party may has the right to terminate the Agreement between immediately if a) the parties with immediate effect; • in the event of a material breach by the other party of counterparty materially breaches its obligations under the Agreement between and does not remedy within 30 days after written notice, addressed to the parties and counterparty with reference to this point, or b) the breaching party failing to remedy such breach within thirty (30) days of receipt of written notice specifying the material breach; or • if the other party petitions for bankruptcy or is counterparty has been declared bankrupt, goes into liquidation initiated composition negotiations, is subject to corporate restructuring, or if a receiver otherwise is appointed for any part of the other party’s businessinsolvent.