Termination for Deterioration of Financial Condition. Voya may terminate the Agreement in the event that: (1) BNY Mellon files a voluntary petition in bankruptcy or an involuntary petition is filed against it; (2) BNY Mellon is adjudged bankrupt; (3) a court assumes jurisdiction of the assets of BNY Mellon under a federal reorganization act or other statute; (4) a trustee or receiver is appointed by a court for all or a substantial portion of the assets of BNY Mellon; or (5) BNY Mellon becomes insolvent, suspends business or ceases to conduct its business in the ordinary course.
Termination for Deterioration of Financial Condition. Either Party may immediately terminate this Agreement upon written notice to the other Party: (i) upon the filing by or with respect to the other Party of a petition in bankruptcy or insolvency under the Laws of any jurisdiction; (ii) a final adjudication that the other Party is bankrupt or insolvent; (iii) the filing or making of any statement or admission that the other Party is unable to pay its debts as they become due or that it is insolvent; or (iv) the making of any assignment for the benefit of creditors or similar process.
Termination for Deterioration of Financial Condition. Prudential Contracting Party may terminate this Agreement or an Engagement Schedule in the event that (1) Service Provider Contracting Party files a voluntary petition in bankruptcy or an involuntary petition is filed against it, (2) Service Provider Contracting Party is adjudged bankrupt, (3) a court assumes jurisdiction of the assets of Service Provider Contracting Party under a federal reorganization act or other statute, (4) a trustee or receiver is appointed by a court for all or a substantial portion of the assets of Service Provider Contracting Party, (5) Service Provider Contracting Party becomes insolvent, suspends business or ceases to conduct its business in the ordinary course, (6) Service Provider Contracting Party makes an assignment of its assets for the benefit of its creditors, (7) there is an occurrence of a material adverse change in Service Provider Contracting Party's business, properties, financial condition or operations, (8) Service Provider Contracting Party's external auditor gives Service Provider Contracting Party a "going concern" explanation or qualification or (9) Xxxxx'x, Standard & Poor's or Fitch, or other equivalent rating agency, lowers Service Provider Contracting Party's credit rating below "investment grade" (e.g., in the case of Xxxxx'x, a rating lower than Baa3; in the case of Standard & Poor's, a rating lower than BBB-; in the case of Fitch, a rating lower than BBB-; or, if the defined ratings shall have been revised by Xxxxx'x, Standard & Poor's or Fitch, an equivalent rating). Service Provider Contracting Party shall give Prudential Contracting Party prompt notice of any such event. - Prudential Confidential-
Termination for Deterioration of Financial Condition. NAIC may terminate this MSA in the event that: (1) Cognizant files a voluntary petition in bankruptcy or an involuntary petition is filed against it; (2) Cognizant is adjudged bankrupt; (3) a court assumes jurisdiction of the assets of Cognizant under a federal reorganization act, or other statute; (4) a trustee or receiver is appointed by a court for all or a substantial portion of the assets of Cognizant; (5) Cognizant becomes insolvent, suspends business or ceases to conduct its business in the ordinary course; (6) Cognizant makes an assignment of its assets for the benefit of its creditors; (7) the occurrence of a material adverse change in Cognizant’s business, properties, financial condition or operations adversely affecting the provision of Services; (8) Cognizant’s external auditor gives Cognizant a “going concern” explanation or qualification; or (9) Xxxxx’x, Standard & Poor’s or Fitch, or other equivalent rating agency, lowers Cognizant’s credit rating below “investment grade” (e.g., in the case of Xxxxx’x, a rating lower than Baa3; in the case of Standard & Poor’s, a rating lower than BBB-; in the case of Fitch, a rating lower than BBB-; or, if the defined ratings shall have been revised by Xxxxx’x, Standard & Poor’s or Fitch, an equivalent rating). Cognizant shall give NAIC prompt notice of any such event.
Termination for Deterioration of Financial Condition. Voya may terminate this MSA in the event that: (1) Milliman files a voluntary petition in bankruptcy or an involuntary petition is filed against it; (2) Milliman is adjudged bankrupt; (3) a court assumes jurisdiction of the assets of Milliman under a federal reorganization act, or other statute; (4) a trustee or receiver is appointed by a court for all or a substantial portion of the assets of Milliman; (5) Milliman becomes insolvent, suspends business or ceases to conduct its business in the ordinary course; (6) Milliman makes an assignment of its assets for the benefit of its creditors; (7) Milliman’s external auditor gives Milliman a “going concern” explanation or qualification; or (8) Xxxxxxxx, Inc. defaults in the due observance or performance of any covenant, condition or agreement contained in any third party loan agreement, financing agreement or other financial instrument and such default is not subject to a good xxxxx xxxx fide dispute and continues un-remedied for a period of 30 days after written notice thereof from the applicable third party.
Termination for Deterioration of Financial Condition. Voya may terminate this Agreement in the event that: (1) Supplier files a voluntary petition in bankruptcy or an involuntary petition is filed against it; (2) Supplier is adjudged bankrupt; (3) a court assumes jurisdiction of the assets of Supplier under a federal reorganization act, or other statute; (4) a trustee or receiver is appointed by a court for all or a substantial portion of the assets of Supplier; (5) Supplier becomes insolvent, suspends business or ceases to conduct its business in the ordinary course; (6) Supplier makes an assignment of its assets for the benefit of its creditors; (7) the occurrence of a material adverse change in Supplier's business, properties, financial condition or operations adversely affecting the provision of Services; (8) Supplier's external auditor gives Supplier a “going concern” explanation or qualification; or (9) Xxxxx'x, Standard & Poor's or Fitch, or other equivalent rating agency, lowers Supplier's credit rating below “investment grade” (e.g., in the case of Xxxxx'x, a rating lower than Baa3; in the case of Standard & Poor's, a rating lower than BBB-; in the case of Fitch, a rating lower than BBB-; or, if the defined ratings shall have been revised by Xxxxx'x, Standard & Poor's or Fitch, an equivalent rating). Supplier shall give Voya prompt notice of any such event.
