Common use of Termination--Cause Clause in Contracts

Termination--Cause. Either party may terminate this Agreement at any time if (a) the other party fails to cure any material breach (other than a payment breach) within 30 days after written notice, (b) a receiver is appointed for the other party or its property, (c) the other party makes an assignment for the benefit of its creditors, (d) there is reasonable cause to believe that the other party is insolvent, (e) proceedings are commenced by, for, or against the other party under any bankruptcy, insolvency, or debtor's relief law, (f) the other party liquidates or dissolves or attempts to do so, (g) the other party assigns or purports to assign this Agreement in breach of its provisions, or (h) the other party commits a breach of a material obligation hereunder which is by its nature incurable.

Appears in 2 contracts

Sources: North American Distributor Agreement (Veritas Software Corp /De/), North American Distributor Agreement (Veritas Software Corp /De/)