Common use of Termination Upon Bankruptcy Clause in Contracts

Termination Upon Bankruptcy. Either Party may terminate this Agreement if, at any time, the other Party shall (a) file in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of that Party or of its assets, (b) propose a written agreement of composition or extension of its debts, (c) be served with an involuntary petition against it, filed in any insolvency proceeding, and such petition has not been dismissed within [*] after the filing thereof, (d) propose or be a party to any dissolution or liquidation, (e) make an assignment for the benefit of its creditors or (f) admit in writing its inability generally to meet its obligations as they fall due in the general course.

Termination Upon Bankruptcy. Either Party may terminate this Agreement if, at any time, the other Party shall (a) file in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of that Party or of its assets, (b) propose a written agreement of composition or extension of its debts, (c) be served with an involuntary petition against it, filed in any insolvency proceeding, and such petition has not been dismissed within [*] days after the filing thereof, (d) propose or be a party to any dissolution or liquidation, (e) make an assignment for the benefit of its creditors or (f) admit in writing its inability generally to meet its obligations as they fall due in the general course.

Termination Upon Bankruptcy. Either Party may terminate this Agreement if, at any time, the other Party shall (a) file files in any court or agency pursuant to any statute or regulation of any state, country or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of that Party or of its assets, (b) propose or if the other Party proposes a written agreement of composition or extension of its debts, (c) be or if the other Party is served with an involuntary petition against it, filed in any insolvency proceeding, and such petition has is not been dismissed within […***…] after the filing thereof, (d) propose or be if the other Party proposes or becomes a party Party to any dissolution or liquidation, (e) make or if the other Party makes an assignment for the benefit of its creditors or (f) admit in writing its inability generally to meet its obligations as they fall due in the general coursecreditors.

Termination Upon Bankruptcy. Either Party may terminate this Agreement if, at any time, the other Party shall (a) file files in any court or agency pursuant to any statute or regulation of any state, country country, Region, or jurisdiction, a petition in bankruptcy or insolvency or for reorganization or for an arrangement or for the appointment of a receiver or trustee of that Party or of its assets, (b) propose or if the other Party proposes a written agreement of composition or extension of its debts, (c) be or if the other Party is served with an involuntary petition against it, filed in any insolvency proceeding, and such petition has is not been dismissed within [***] after the filing thereof, (d) propose or be if the other Party proposes or becomes a party Party to any dissolution or liquidation, (e) make or if the other Party makes an assignment for the benefit of its creditors or (f) admit in writing its inability generally to meet its obligations as they fall due in the general coursecreditors.