Supplier Default Termination Sample Clauses

Supplier Default Termination. The Recipient may immediately terminate this Agreement at any time before or after the Supply Termination Date by written notice to the Supplier, effective immediately or upon the date specified in the notice, upon the occurrence relative to the Supplier of: (a) (default): any material default under this Agreement, except for a rectifiable or remediable default which is rectified within 30 days following written notice from the Recipient requiring rectification or remedy; or (b) (liquidation): the fact of any legal or other action proposing or initiating liquidation.