Termination for Insolvency. Either Party may terminate this Agreement in its entirety immediately upon notice to the other Party if such other Party: # is dissolved or liquidated or takes any corporate action for such purpose; # becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; # files or has filed against it a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; # makes or seeks to make a general assignment for the benefit of creditors; or # applies for or has a receiver, trustee, custodian, or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business.
Either Partyparty may terminate this Agreement in its entirety immediately upon notice toAgreement, effective immediately, if the other Party if such other Party: # is dissolved or liquidated or takes any corporate action for such purpose;party: # becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; # files or has filed against it a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; # makes or seeks to make a general assignment for the benefit of its creditors; or # applies for or has appointed a receiver, trustee, custodian,custodian or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business.
Termination for Insolvency. EitherIn the event that either Party # files for protection under bankruptcy or insolvency laws, # makes an assignment for the benefit of creditors, # appoints or suffers appointment of a receiver or trustee over substantially all of its property that is not discharged within days after such filing, # proposes a written agreement of composition or extension of its debts, # proposes or is a party to any dissolution or liquidation, # files a petition under any bankruptcy or insolvency act or has any such petition filed against that is not discharged within days of the filing thereof or # admits in writing its inability generally to meet its obligations as they fall due in the general course, then the other Party may terminate this Agreement in its entirety effective immediately upon written notice to the other Party if such other Party: # is dissolved or liquidated or takes any corporate action for such purpose; # becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; # files or has filed against it a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; # makes or seeks to make a general assignment for the benefit of creditors; or # applies for or has a receiver, trustee, custodian, or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portion of its property or business.Party.
Termination for Insolvency. Either Party may terminate this Agreement in its entirety immediately upon notice to the other Party if such other Party: # is dissolved or liquidated or takes any corporate action for such purpose; # becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; # files or has filed against it a petition forIf voluntary or involuntary bankruptcyproceedings by or otherwise becomes subject, voluntarily or involuntarily, to any proceedingagainst a Party are instituted in bankruptcy under any domesticinsolvency law, or foreign bankruptcya receiver or insolvency law; #custodian is appointed for such Party, or proceedings are instituted by or against such Party for corporate reorganization, dissolution, liquidation or winding-up of such Party, which proceedings, if involuntary, shall not have been dismissed within after the date of filing, or if such Party makes or seeks to make a generalan assignment for the benefit of creditors;creditors, or # applies forsubstantially all of the assets of such Party are seized or has a receiver, trustee, custodian, or similar agent appointed by orderattached and not released within thereafter, the other Party may immediately terminate this Agreement effective upon notice of any court of competent jurisdiction to take charge of or sell any material portion of its property or business.such termination.
Termination for Insolvency. EitherBankruptcy, Insolvency or Similar Event. In the event that either Party may terminate this Agreement in its entirety immediately upon notice to the other Party if such other Party: # is dissolved or liquidated or takes any corporate action for such purpose; # becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; # files or has filed against it a petition for voluntary or involuntary bankruptcy or otherwise becomesthe subject, whether voluntarily or involuntarily, toof any proceeding under any domesticbankruptcy, insolvency, receivership or foreign bankruptcy or insolvency law;similar proceeding, # makes or seeks to make a generalan assignment for the benefit of creditors;creditors, # appoints or suffers appointment of a receiver or trustee over substantially all of its property, # proposes a written agreement of composition, arrangement, readjustment or extension of its debts, # proposes or is a party to any dissolution or liquidation or otherwise ceases to do business or winds up its affairs, # admits in writing its inability to meet its obligations as they fall due in the general course, or # applies forbecomes subject to a warrant of attachment, execution, or has a receiver, trustee, custodian,distraint or similar agent appointed by order of any court of competent jurisdiction to take charge of or sell any material portionprocess against substantially all of its propertyproperty, then the other Party may terminate this Agreement, in whole or business.in part and in its sole discretion, effective immediately upon written notice to such other Party as specified in [Section 13.9] of this Agreement.
Bankruptcy. To the extent permitted under Applicable Law, either Party may terminate this Agreement in its entirety immediately upon notice towritten notice, if the other Party if such other Party: # is dissolved or liquidated or takes any corporate action for such purpose; # becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; # files or has filed against it a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; # makes or seeks to make a generalan assignment for the benefit of creditors;creditors, or # applies for or has a receiver, trustee, custodian,trustee in bankruptcy or similar agentofficer is appointed by order of any court of competent jurisdiction to take charge of all of the other Partys property, or sellthe other Party seeks protection under any material portion of its propertybankruptcy, receivership, trust deed, creditors arrangement, composition or business.comparable proceeding or such a proceeding is instituted against the other Party and is not dismissed within days, or the other Party, without a successor, dissolves or liquidates.
Bankruptcy. To the extent permitted under Applicable Law, either Party may terminate this Agreement in its entirety immediately upon notice towritten notice, if the other Party if such other Party: # is dissolved or liquidated or takes any corporate action for such purpose; # becomes insolvent or is generally unable to pay, or fails to pay, its debts as they become due; # files or has filed against it a petition for voluntary or involuntary bankruptcy or otherwise becomes subject, voluntarily or involuntarily, to any proceeding under any domestic or foreign bankruptcy or insolvency law; # makes or seeks to make a generalan assignment for the benefit of creditors;creditors, or # applies for or has a receiver, trustee, custodian,trustee in bankruptcy or similar agentofficer is appointed by order of any court of competent jurisdiction to take charge of all of the other Partys property, or sellthe other Party seeks protection under any material portion of its propertybankruptcy, receivership, trust deed, creditors arrangement, composition or business.comparable proceeding or such a proceeding is instituted against the other Party and is not dismissed within calendar days, or the other Party, without a successor, dissolves or liquidates.
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