Insolvency and Default. For pur- poses of this section, a payment is not contingent merely because of the possi- bility of impairment by insolvency, de- fault, or similar circumstances. How- ever, if any payment on a split-dollar loan is nonrecourse to the borrower, the payment is a contingent payment for purposes of this paragraph (j) unless the parties to the arrangement make the written representation provided for in paragraph (d)(2) of this section.
Insolvency and Default. 40. If the Buyer shall become bankrupt or commits any act of bankruptcy or if the Buyer is or is deemed insolvent or is put into liquidation otherwise than by voluntary liquidation for the purpose only of an amalgamation or solvent reconstruction or if the Buyer shall enter into any arrangement or composition with creditors or if a Receiver or Administrative Receiver or Administrator of the Buyer's assets or undertakings or any part thereof is appointed or if the Buyer commits any breach of this or any other contract between the Company and the Buyer or if the partnership has suspended payment of its debt in whole or in part, the Company may at its option cancel this contract in whole or in part and refuse to make any furtherdelivery.
Insolvency and Default. In the event of the Buyer becoming (or appearing to IMO to become) bankrupt, insolvent or going (or appearing to IMO to be about to go) into liquidation, suspending payment of debts or making any arrangement with creditors, or failing to pay in accordance with the terms of the Contract or being in breach of any other term of the Contract IMO shall be entitled, without prejudice to its other rights, to postpone delivery or manufacture, (both in respect of the Contract in question and any other contracts with the Buyer) until such payment has been made or other breach rectified and/or (at its option) to determine the Contract (and/or any other such contracts) and to recover payment for all deliveries already made and for the cost of materials and labor already expended for the purpose of future deliveries (less any allowance of the value thereof as utilized by IMO for other purposes) and also to recover from the Buyer a sum equivalent to IMO’s loss of profit arising out of such determination. The exercise of IMO’s option to postpone delivery or manufacture shall not prevent the subsequent exercise of IMO’s option to determine the Contract and/or any other such contracts.
Insolvency and Default. If: (a) the Purchaser defaults in any payment due under this Ag- reement; (b) a receiver, manager, receiver and manager, trustee, administrator, controller (as defined in Section 9 of the Corporations Xxx 0000 (Cth)) or similar official is appointed in respect of the Purchaser or any asset of the Purchaser; (c) a liquidator or provisio- nal liquidator is appointed in respect of the Purchaser; (d) any ap- plication (not being an application withdrawn or dismissed within 7 days) is made to a court for an order, or an order is made, or (e) a meeting is convened, or a resolution is passed, for the purpose of:
Insolvency and Default. If the Buyer shall become bankrupt or commits any act of bankruptcy or if the Buyer is or is deemed insolvent or is put into liquidation otherwise than by voluntary liquidation for the purpose of an amalgamation or solvent reconstruction or if the Buyer shall enter into any arrangement or composition with creditors or If a Receiver or Administrative Receiver or Administrator of the Buyer's assets or undertaking or any part thereof is apportioned or if the Buyer commits any breach of this or any contract between the Seller and the Buyer the Seller may at its option cancel this contract in whole or in part and refuse to make any further delivery.
Insolvency and Default. 15.1 Xxxxxxxx may by notice in writing to Customer terminate this Agreement or in its absolute discretion any other contracts with Customer so far as unperformed by Xxxxxxxx immediately if:
Insolvency and Default. If either party shall be in default of any obligation hereunder, or if the Licensee shall be adjudged bankrupt, or become insolvent, or make an assignment for the benefit of creditors, or be placed in the hands of a receiver or a trustee in bankruptcy, the other party may terminate this Agreement by giving thirty (30) days' notice by registered or certified mail to the defaulting party, specifying the bases for termination. If within thirty (30) days after the receipt of such notice, the party who received notice shall remedy the condition forming the basis for termination, such notice shall cease to be operative and this Agreement shall continue in full force and effect. In the event of a default under this Agreement, the nondefaulting party shall be entitled to any and all remedies at law or in equity. Without in any way limiting the foregoing, any uses by the Licensee of the Technology during any time or for any purpose other than those specified in this Agreement shall constitute misappropriation of the Licensor's Technology and a material breach of this Agreement, entitling the Licensor to immediate injunctive and monetary relief.
Insolvency and Default. 10.1. If the Customer commits an Act of Default which is not remedied within 7 days of PPI giving written notice of the Act of Default, PPI may cancel all unfulfilled orders the Customer has placed with PPI or place the Customer on stop supply until the Customer has remedied the Act of Default.
Insolvency and Default. 15.1 HWL may by notice in writing to Customer terminate this Agreement or in its absolute discretion any other contracts with Customer so far as unperformed by HWL immediately if:
Insolvency and Default
