Termination by Vis'n Clause Samples
Termination by Vis'n. Except as otherwise specifically provided herein, VIS'N shall have right to terminate this Agreement for cause in the event:
a) The Citizens Insurance Companies breach any warranty, covenant, or other provision of this Agreement and the Citizens Insurance Companies fail to cure such breach within thirty (30) days after written notice of such breach from VIS'N; or
b) Meridian, to the extent Meridian enters into a written confidentiality agreement as described in Article 16, breaches such a confidentiality agreement with VIS'N. ARTICLE 13
Termination by Vis'n. Vis'n may terminate this Agreement with respect to a Citizens Insurance Company:
(a) Immediately upon giving written notice to the other parties at any time after the institution of insolvency, bankruptcy or similar proceedings by or against the Citizens Insurance Company, any assignment or attempted assignment by the Citizens Insurance Company for the benefit of creditors, or any appointment, or application for such appointment, of a receiver for the Citizens Insurance Company;
(b) Immediately upon giving written notice to the other parties at any time after the occurrence of any of the following events: (i) the Citizens Insurer's failure to comply with any material applicable federal, state or local law or regulation; (ii) the Citizens Insurer's falsification of any records or reports required hereunder; (iii) the Citizens Insurer's loss through failure to renew or because of suspension, cancellation or revocation, for a period of fifteen (15) days or more, of any federal, state or local license or permit required by law and necessary in carrying out the provisions of this Agreement or in maintaining its corporate status;
(c) Immediately, without opportunity to cure, for a material breach by the Citizens Insurance Company of its obligations under this Agreement; or
(d) Upon giving 60 days' prior written notice to the other parties at any time after the earlier of December 31, 1999, or three years following the Commencement Date, without cause.