DETERMINATION OF CONTRACT. The Company shall have the right forthwith to determine this and/or any other Contract between the Buyer and the Company by written notice to the Buyer’s last known address (without prejudice to any claim or right the Company might otherwise make or exercise) in any of the following events:- a) If the Buyer shall make default in or commit a breach of any contract with the Company; or b) If any distress or execution shall be levied upon the Buyer’s property or assets; or c) If the Buyer shall make or offer to make any arrangements or composition with creditors, or commit any act of bankruptcy or become insolvent; or d) If any petition or receiving order in bankruptcy shall be presented or made against him; or e) If the buyer shall be a limited Company and become subject of any resolution or petition for winding up or administration; or f) If a receiver or manager of the Buyer’s undertaking, property or assets or any part thereof shall be appointed.
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Sources: Standard Conditions of Sale, Standard Conditions of Sale