Common use of Termination in the Event of Bankruptcy Clause in Contracts

Termination in the Event of Bankruptcy. Either Party may terminate this Agreement if the other Party is adjudged insolvent or bankrupt, or if proceedings are instituted by or against a Party seeking relief, reorganization or arrangement under any laws relating to insolvency, or seeking any assignment for the benefit of creditors, or seeking the appointment of a receiver, liquidator or trustee of a Party's property or assets or the liquidation, dissolution or winding up of a Party's business.

Termination in the Event of Bankruptcy. Either Party may terminate this Agreement if the other Party is adjudged insolvent or bankrupt, or if proceedings are instituted by or against a Party seeking relief, reorganization or arrangement under any laws relating to insolvency, or seeking any assignment for the benefit of creditors, or seeking the appointment of a receiver, liquidator or trustee of a Party's ’s property or assets or the liquidation, dissolution or winding up of a Party's ’s business.

Termination in the Event of Bankruptcy. Either Party may terminate this Agreement if the other Party is adjudged insolvent or bankrupt, or if proceedings are instituted by or against a Party seeking relief, reorganization or arrangement under any laws relating to insolvencybankruptcy, or seeking any assignment for the benefit of creditors, or seeking the appointment of a receiver, liquidator or trustee of a Party's property or assets or the liquidation, dissolution or winding up of a Party's business, and such proceedings are not dismissed within thirty (30) days of commencement.

Termination in the Event of Bankruptcy. Either This Agreement may be terminated by any Party may terminate this Agreement if on notice, (i) upon the other institution by another Party is adjudged insolvent or bankrupt, or if proceedings are instituted by or against a Party seeking relief, reorganization or arrangement under any laws relating to of insolvency, receivership or seeking bankruptcy proceedings or any other proceedings for the settlement of the debts, (ii) upon the institution of such proceedings against another Party, which are not dismissed or otherwise resolved in such Party’s favor within 60 days thereafter, (iii) upon another Party’s making a general assignment for the benefit of creditors, or seeking the appointment of a receiver, liquidator or trustee of a (iv) upon another Party's property or assets or the liquidation, ’s dissolution or winding up of a Party's businessceasing to do business in the normal course.

Termination in the Event of Bankruptcy. Either Party party may terminate this Agreement if the other Party party is adjudged insolvent or bankrupt, or if proceedings are instituted by or against a Party party seeking relief, reorganization or arrangement under any laws relating to insolvencyinsolvency (except for the purposes of a solvent reconstruction or amalgamation), or seeking any assignment for the benefit of creditors, or seeking the appointment of a receiver, liquidator or trustee of a Partyparty's property or assets or the liquidation, dissolution or winding up of a Partyparty's business.

Termination in the Event of Bankruptcy. Either Party may terminate this Agreement if the other Party is adjudged insolvent bankrupt or bankruptinsolvent, or if proceedings are instituted by or against a the other Party on its behalf seeking relief, reorganization or arrangement under any laws relating to insolvencyinsolvency or bankruptcy, or seeking any assignment for the benefit of creditors, or seeking the appointment of a receiver, liquidator or trustee of a Party's its property or assets or the liquidation, dissolution or winding up of a Party's its business.

Termination in the Event of Bankruptcy. Either In the event that either Party may terminate is facing bankruptcy, insolvency or winding up proceedings or entering into compulsory or voluntary liquidation or is convening a meeting of its creditors or has a receiver or manager or an administrator appointed or ceases for any reason to carry on its business or is unable to pay its debts, this Agreement if may be cancelled by either Party by giving the other Party is adjudged insolvent or bankrupt, or if proceedings are instituted by or against a Party seeking relief, reorganization or arrangement under any laws relating to insolvency, or seeking any assignment the proper written notice clearly stating the reasons for the benefit of creditors, or seeking the appointment of a receiver, liquidator or trustee of a Party's property or assets or the liquidation, dissolution or winding up of a Party's businesstermination.