Common use of Insolvency, Etc Clause in Contracts

Insolvency, Etc. This Agreement may be terminated, prior to the expiration of its term, immediately upon written notice by either party: (a) in the event that the other party hereto shall (i) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii) make a general assignment for the benefit of its creditors, (iii) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "Bankruptcy Code"), (iv) file a petition seeking to take advantage of any law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, (v) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (vi) take any corporate action for the purpose of effecting any of the foregoing; or (b) if a proceeding or case shall be commenced against the other party hereto in any court of competent jurisdiction, seeking (i) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the like of the party or of all or any substantial part of its assets, or (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization winding-up or composition or readjustment of debts, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of 60 days; or an order for relief against the other party hereto shall be entered in an involuntary case under the Bankruptcy Code.

Insolvency, Etc. This Agreement may be terminated, prior to the expiration of its term, immediately upon written notice by either party: (a) in the event that the other party hereto shall (i) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii) make a general assignment for the benefit of its creditors, (iii) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "“Bankruptcy Code"”), (iv) file a petition seeking to take advantage of any law relating to bankruptcy, Confidential treatment has been requested for portions of this exhibit. The copy filed herewith omits the information subject to the confidentiality request. Omissions are designated as [***]. A complete version of this exhibit has been filed separately with the Securities and Exchange Commission. insolvency, reorganization, winding-up, or composition or readjustment of debts, (v) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (vi) take any corporate action for the purpose of effecting any of the foregoing; or (b) if a proceeding or case shall be commenced against the other party hereto in any court of competent jurisdiction, seeking (i) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the like of the party or of all or any substantial part of its assets, or (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization winding-up or composition or readjustment of debts, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of 60 days; or an order for relief against the other party hereto shall be entered in an involuntary case under the Bankruptcy Code.

Insolvency, Etc. This Agreement may be terminated, prior to the expiration of its termExpiration Date, immediately upon thirty (30) days advance written notice by either partyParty: (a) in the event that the other party Party hereto shall (i) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii) make a general assignment for the benefit of its creditors, (iii) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "“Bankruptcy Code"”), (iv) file a petition seeking to take advantage of any law (the “Bankruptcy Laws”) relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, or (v) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (vi) take any corporate action for the purpose of effecting any of the foregoing; or (b) if a proceeding or case shall be commenced against the other party Party hereto in any court of competent jurisdiction, seeking (i) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the like of the party Party or of all or any substantial part of its assets, or (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization winding-up or composition or readjustment of debtsBankruptcy Laws, or an order, judgment or decree approving any of the foregoing shall be THIS EXHIBIT HAS BEEN REDACTED AND IS THE SUBJECT OF A CONFIDENTIAL TREATMENT REQUEST. REDACTED MATERIAL IS MARKED WITH [* * *] AND HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. entered and continue unstayed for a period of 60 sixty (60) days; or (c) an order for relief against the other party Party hereto shall be entered in an involuntary case under the Bankruptcy Code.

Insolvency, Etc. This Agreement may be terminated, prior to the expiration of its term, immediately upon fifteen (15) days written notice by either party: (ai) in the event that the other party hereto shall (i1) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii2) make a general assignment for the benefit of its creditors, (iii3) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "Bankruptcy Code"), (iv4) file a petition seeking to take advantage of any law (the "Bankruptcy Laws") relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, (v5) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed * Denotes confidential information that has been omitted from the exhibit and filed separately, accompanied by a confidential treatment request, with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934. against it in any involuntary case under the Bankruptcy Code, or (vi6) take any corporate action for the purpose of effecting any of the foregoing; or (bii) if a proceeding or case shall be commenced against the other party hereto in any court of competent jurisdiction, seeking (i1) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii2) the appointment of a trustee, receiver, custodian, liquidator or the like of the party or of all or any substantial part of its assets, or (iii3) similar relief under any law relating to bankruptcy, insolvency, reorganization winding-up or composition or readjustment of debtsBankruptcy Laws, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of 60 days; or an order for relief against the other party hereto shall be entered in an involuntary case under the Bankruptcy Code.

Insolvency, Etc. This Agreement may be terminated, prior to the expiration of its termthe Term, immediately upon written notice by either partyParty: (ai) in the event that the other party Party hereto shall (i1) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii2) make a general assignment for the benefit of its creditors, (iii3) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "“Bankruptcy Code"”), (iv4) file a petition seeking to take advantage of any law (the “Bankruptcy Laws”) relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, (v5) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (vi6) take any corporate action for the purpose of effecting any of the foregoing; or (bii) if a proceeding or case shall be commenced against the other party Party hereto in any court of competent jurisdiction, seeking (i1) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii2) the appointment of a trustee, receiver, custodian, liquidator or the like of the party Party or of all or any substantial part of its assets, or (iii3) similar relief under any law relating to bankruptcy, insolvency, reorganization winding-up or composition or readjustment of debtsBankruptcy Laws, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of 60 days; or an order for relief against the other party Party hereto shall be entered in an involuntary case under the Bankruptcy Code.

Insolvency, Etc. This Agreement may be terminated, prior to the expiration of its term, immediately upon written notice by either party: (a) in the event that the other party hereto shall (i) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii) make a general assignment for the benefit of its creditors, (iii) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "“Bankruptcy Code"”), (iv) file a petition seeking to take advantage of any law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, (v) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (vi) take any corporate action for the purpose of effecting any of the foregoing; or (b) if a proceeding or case shall be commenced against the other party hereto in any court of competent jurisdiction, seeking (i) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the like of the party or of all or any substantial part of its assets, or (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization winding-up or composition or readjustment of debts, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of 60 days; or an order for relief against the other party hereto shall be entered in an involuntary case under the Bankruptcy Code.

Insolvency, Etc. This Agreement may be terminated, prior to the expiration of its term, immediately upon written notice by either party: (ai) in the event that the other party hereto shall (i1) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii2) make a general assignment for the benefit of its creditors, (iii3) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "“Bankruptcy Code"”), (iv4) file a petition seeking to take advantage of any law (the “Bankruptcy Laws”) relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, (v5) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (vi6) take any corporate action for the purpose of effecting any of the foregoing; or (bii) if a proceeding or case shall be commenced against the other party hereto in any court of competent jurisdiction, seeking (i1) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii2) the appointment of a trustee, receiver, custodian, liquidator or the like of the party or of all or any substantial part of its assets, or (iii3) similar relief under any law relating to bankruptcy, insolvency, reorganization winding-up or composition or readjustment of debtsBankruptcy Laws, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of 60 days; or an order for relief against the other party hereto shall be entered in an involuntary case under the Bankruptcy Code. request for confidentiality and filed separately with the Securities and Exchange Commission.

Insolvency, Etc. This Agreement may be terminated, prior to the expiration of its termimmediately, immediately upon written notice by either partya Party: (a) in the event that the other party Party hereto shall (i) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii) make a general assignment for the benefit of its creditors, (iii) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "Bankruptcy Code"), (iv) file a petition seeking to take advantage of any law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, (v) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (vi) take any corporate action for the purpose of effecting any of the foregoing; or (b) if a proceeding or case shall be commenced against the other party hereto in any court of competent jurisdiction, seeking (i) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the like of the party or of all or any substantial part of its assets, or (iii) similar relief under any law relating to bankruptcy, insolvency, reorganization winding-up or composition or readjustment of debts, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of 60 sixty (60) days; or an order for relief against the other party hereto shall be entered in an involuntary case under the Bankruptcy Code.

Insolvency, Etc. This Agreement may be terminated, prior to the expiration The Borrower or any of its term, immediately upon written notice by either party: (a) in the event that the other party hereto Subsidiaries shall (i) apply for or consent to the appointment ofgenerally not pay its debts as such debts become due, or the taking of possession byshall admit in writing its inability to pay its debts generally, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii) shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against either Borrower or any of its creditors, (iii) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "Bankruptcy Code"), (iv) file a petition Subsidiaries seeking to take advantage of any law relating to bankruptcyadjudicate it a bankrupt or insolvent, insolvencyor seeking liquidation, winding up, reorganization, winding-uparrangement, adjustment, protection, relief or composition of it or readjustment of debts, (v) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (vi) take any corporate action for the purpose of effecting any of the foregoing; or (b) if a proceeding or case shall be commenced against the other party hereto in any court of competent jurisdiction, seeking (i) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii) the appointment of a trustee, receiver, custodian, liquidator or the like of the party or of all or any substantial part of its assets, or (iii) similar relief debts under any law relating to bankruptcy, insolvency, insolvency or reorganization winding-up or composition or readjustment relief of debtsdebtors, or seeking the entry of an orderorder for relief or the appointment of a receiver, judgment trustee, custodian or decree approving other similar official for it or for any substantial part of its property and, in the foregoing case of any such proceeding instituted against it (but not instituted by it), either such proceeding shall be entered and continue remain undismissed or unstayed for a period of 60 30 days; , or any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or for any substantial part of its property) shall occur; or either Borrower or any of its Subsidiaries shall take any corporate action to authorize any of the actions set forth above in this Section 6.1(e); or f. Judgments. Any judgment or order for the payment of money in excess of $5,000,000 shall be rendered against the other party hereto Borrower and/or any of its Subsidiaries and either (I) enforcement proceedings shall have been commenced by any creditor upon such judgment or order, or (ii) there shall be entered any period of 10 consecutive days during which such judgment remains unsatisfied and a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in an involuntary case under the Bankruptcy Code.effect; or g.

Insolvency, Etc. This Agreement may be terminated, prior to the expiration of its term, immediately upon written notice by either party: (ai) in the event that the other party hereto shall (i1) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (ii2) make a general assignment for the benefit of its creditors, (iii3) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "“Bankruptcy Code"”), (iv4) file a petition seeking to take advantage of any law (the “Bankruptcy Laws”) relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, (v5) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (vi6) take any corporate action for the purpose of effecting any of the foregoing; or (bii) if a proceeding or case shall be commenced against the other party hereto in any court of competent jurisdiction, seeking (i1) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (ii2) the appointment of a trustee, receiver, custodian, liquidator or the like of the party or of all or any substantial part of its assets, or (iii3) similar relief under any law relating to bankruptcy, insolvency, reorganization winding-up or composition or readjustment of debtsBankruptcy Laws, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of 60 days; or an order for relief against the other party hereto shall be entered in an involuntary case under the Bankruptcy Code. Confidential portions of this Exhibit marked as [**] have been omitted pursuant to a request for confidentiality and filed separately with the Securities and Exchange Commission.

Insolvency, Etc. This Agreement may be terminated, prior to the expiration of its termExpiration Date, immediately upon thirty (30) days written notice by either partyParty: (ai) in the event that the other party Party hereto shall (ia) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of itself or of all or a substantial part of its property, (iib) make a general assignment for the benefit of its creditors, (iiic) commence a voluntary case under the United States Bankruptcy Code, as now or hereafter in effect (the "“Bankruptcy Code"”), (ivd) file a petition seeking to take advantage of any law (the “Bankruptcy Laws”) relating to bankruptcy, insolvency, reorganization, winding-up, or composition or readjustment of debts, (v) fail to controvert in a timely and appropriate manner, or acquiesce in writing to, any petition filed against it in any involuntary case under the Bankruptcy Code, or (vie) take any corporate action for the purpose of effecting any of the foregoing; or (bii) if a proceeding or case shall be commenced against the other party Party hereto in any court of competent jurisdiction, seeking (ia) its liquidation, reorganization, dissolution or winding-up, or the composition or readjustment of its debts, (iib) the appointment of a trustee, receiver, custodian, liquidator or the like of the party Party or of all or any substantial part of its assets, or (iiic) similar relief under any law relating to bankruptcy, insolvency, reorganization winding-up or composition or readjustment of debtsBankruptcy Laws, or an order, judgment or decree approving any of the foregoing shall be entered and continue unstayed for a period of sixty (60 days; or (iii) an order for relief against the other party Party hereto shall be entered in an involuntary case under the Bankruptcy Code.. April 21, 2006 Novavax Esprit Supply Agreement