Common use of Termination Upon Bankruptcy Clause in Contracts

Termination Upon Bankruptcy. This Contract may be terminated in whole or in part by DFA upon written notice to Contractor, if Contractor should become the subject of bankruptcy or receivership proceedings, whether voluntary or involuntary, or upon the execution by Contractor of an assignment for the benefit of its creditors. In the event of such termination, Contractor shall be entitled to recover just and equitable compensation for satisfactory work performed under this contract, but in no case shall said compensation exceed the total Contract price.

Termination Upon Bankruptcy. This Contract contract may be terminated in whole or in part by DFA DMH upon written notice to Contractor, if Contractor should become the subject of bankruptcy or receivership proceedings, whether voluntary or involuntary, or upon the execution by Contractor of an assignment for the benefit of its creditors. In the event of such termination, Contractor shall be entitled to recover just and equitable compensation for satisfactory work performed under this contract, but in no case shall said compensation exceed the total Contract contract price.

Termination Upon Bankruptcy. This Contract may be terminated in whole or in part by DFA upon written notice to Contractor, Auditor if Contractor Auditor should become the subject of bankruptcy or receivership proceedings, whether voluntary or involuntary, or upon the execution by Contractor Auditor of an assignment for the benefit of its creditors. In the event of such termination, Contractor Auditor shall be entitled to recover just and equitable compensation for satisfactory work performed under this contractContract, but in no case shall said compensation exceed the total Contract price.