Upon Default. Either party shall have the right to terminate this Agreement, effective immediately, if either party is in default of any obligation under this Agreement and default continues for 30 days following notice from the other party, or if either party is declared bankrupt, files a petition under any bankruptcy laws, has a receiver appointed for all or substantially all of its property, or makes an assignment of all or substantially all of its assets for its creditors.
Appears in 6 contracts
Sources: Merchant Agreement, Merchant Agreement, Merchant Agreement
Upon Default. Either party shall have the right to terminate this Agreement, Agreement effective immediately, if either party is in default of any obligation under this Agreement and default continues for 30 days following notice from the other party, or if either party is declared bankrupt, files a petition under any bankruptcy laws, has a receiver appointed for all or substantially all of its property, or makes an assignment of all or substantially all of its assets for its creditors.
Appears in 3 contracts
Sources: Clearing and Settlement Services Agreement (Transfirst Holdings Corp.), Clearing and Settlement Services Agreement (Transfirst Holdings Corp.), Clearing and Settlement Services Agreement (TransFirst Inc.)
Upon Default. Either party shall have the right to terminate this Agreement, Agreement effective immediately, if either party is in default of any obligation under this Agreement and default continues for 30 15 days following notice from the other party, or if either party is declared bankrupt, files a petition under any bankruptcy laws, has a receiver appointed for all or substantially all of its property, or makes an assignment of all or substantially all of its assets for its creditors.
Appears in 1 contract
Sources: Addendum