Business Cessation definition

Business Cessation. If for any reason PEAK ceases business operations and services are not available to the buyer, auto pay drafts will cease will not continue past the end of the month of cessation and prepaid dues will be reimbursed for the outstanding months of the buyer‘s agreement.
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Business Cessation means, at any time following a Specified Collaboration Termination and for a continuous period of at least six consecutive months, the failure of the Company to perform (directly or indirectly through any of its Subsidiaries, licensees, sublicensees, contractors, or agents (in a good faith manner with a view to furthering the business of the Company)) any activity involving the planning or conduct of any research, development, manufacture or commercialization of an R&D Candidate, Product, or any other compound, molecule, macromolecule, vaccine or pharmaceutical product (other than any such failure to perform due to a Force Majeure Event or a prohibition, injunction or similar restraint imposed by Applicable Law or by order of any governmental agency, court or other body of competent jurisdiction).
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Business Cessation. “dismission”, “liquidation”, “bankruptcy”, “reorganization”, “reconciliation” or “rectification” of any person should be understood as any same or similar legal procedure initiated according to the laws of the establishment place or the business operation place, and the “initiation” of such legal procedure should include that the person concerned agrees the decision or any person applies for initiating such legal procedure.
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Examples of Business Cessation in a sentence

  • To the fullest extent permitted by applicable Laws and Regulations, this Agreement shall automatically terminate, without the need for any further act or deed by either Party, upon the occurrence of a Bankruptcy Event or Business Cessation Event affecting either Administrator or United.

  • To the fullest extent permitted by applicable Laws and Regulations, this DMSA shall automatically terminate, without the need for any further act, deed or notice by either Party upon the occurrence of a Bankruptcy Event or Business Cessation Event affecting Subcontractor or ALERE.

  • In consideration for the Employee agreeing to suspend all business and commercial activities of APPC, the Company will provide a one-time lump sum payment in the amount of US$200,000 to the Employee with five (5) business days following the delivery of written confirmation by the Employee to the Company that he has terminated all business and commercial activities of APPC (which notice must be delivered on or before the Required Business Cessation Date).

  • Occurrence of any of the following: Insolvency; Business Cessation.