SCC Termination Clause Samples

SCC Termination. SCC may terminate this Agreement as of the date specified in a notice of termination if: 10.1.1. the Supplier commits a material breach (or repeated breaches which regardless of whether the breaches are cured, cumulatively constitute a material breach of this Agreement) of its duties or obligations under this Agreement and fails to cure such breach within thirty (30) days of notice of such breach; 10.1.2. there is a sale of substantially all the assets of the Supplier without SCC’s prior written consent; 10.1.3. any proceeding in bankruptcy, receivership, liquidation or insolvency is commenced against the Supplier or its property, and the same is not dismissed within thirty (30) days; or 10.1.4. the Supplier makes any assignment for the benefit of its creditors, becomes insolvent, commits any act of bankruptcy, ceases to do business as a going concern, or seeks any arrangement or compromise with its creditors under any statute or otherwise.