Common use of Grounds of Termination Clause in Contracts

Grounds of Termination. This Agreement may be terminated after Completion as follows: a. If so agreed in writing by Promoters and Investors. b. By the Investor with immediate effect by notice in writing to the Promoters if the Company or any of the ▇▇▇ Group Companies is declared insolvent, bankrupt, industrially sick, or is unable to pay its debts, or enters into a compromise or any arrangement with its creditors, or in the event that a trustee, receiver or liquidator is appointed to take over all or a substantial part of the assets of the Company or any ▇▇▇ Group Companies or if the Company or any ▇▇▇ Group Companies are liquidated or dissolved. c. If the Promoters or Company or ▇▇▇ Group Companies or any of them (the “Defaulting Party”) commits any material breach under this Agreement which has Material Adverse Effect, the Investors may terminate this Agreement with immediate effect if such material breach is not remedied within thirty (30) days after receipt by the Defaulting Party of a written notification of default from the Investor d. By the Promoters with immediate effect by notice in writing to the Investor, if the Investor is declared insolvent, bankrupt, industrially sick or is unable to pay its debts, or enters into a compromise or any arrangement with its creditors, or in the event that a trustee, receiver or liquidator is appointed to take over all or a substantial part of the assets of the Investor or if the Investor is liquidated or dissolved. e. By the Investor, if at any time the facts emerge indicating that the Company and / or Promoters have intentionally withheld or suppressed information or made any misrepresentations which would have had a Material Adverse Effect. f. By Investors only, on termination of the Share Subscription Agreement and/or Shareholders Agreement with SMC Global Securities Limited for any reason whatsoever attributable to the Company and the Promoters. g. By the Investor, if within four years from the signing of this Agreement, conditions exist that would allow for a listing of the Company’s equity shares on any agreed Indian stock exchange(s) as contemplated in Clause 5.8 of the Agreement and the Company and/or the Promoters decide for reasons of their own not to seek a listing unless such listing is postponed at the request of the Investor.

Grounds of Termination. This Agreement may be terminated after Completion as follows: a. If so agreed in writing by Promoters and Investors. b. By the Investor with immediate effect by notice in writing to the Promoters if the Company or any of the ▇▇▇ SMC Group Companies is declared insolvent, bankrupt, industrially sick, or is unable to pay its debts, or enters into a compromise or any arrangement with its creditors, or in the event that a trustee, receiver or liquidator is appointed to take over all or a substantial part of the assets of the Company or any ▇▇▇ SMC Group Companies or if the Company or any ▇▇▇ SMC Group Companies are liquidated or dissolved. c. If the Promoters or Company or ▇▇▇ SMC Group Companies or any of them (the “Defaulting Party”) commits any material breach under this Agreement which has Material Adverse Effect, the Investors may terminate this Agreement with immediate effect if such material breach is not remedied within thirty (30) days after receipt by the Defaulting Party of a written notification of default from the Investor d. By the Promoters with immediate effect by notice in writing to the Investor, if the Investor is declared insolvent, bankrupt, industrially sick or is unable to pay its debts, or enters into a compromise or any arrangement with its creditors, or in the event that a trustee, receiver or liquidator is appointed to take over all or a substantial part of the assets of the Investor or if the Investor is liquidated or dissolved. e. By the Investor, if at any time the facts emerge indicating that the Company and / or Promoters have intentionally withheld or suppressed information or made any misrepresentations which would have had a Material Adverse Effect. f. By Investors only, on termination of the Share Subscription Agreement and/or Shareholders Agreement with SMC ▇▇▇ Global Securities Limited for any reason whatsoever attributable to the Company and the Promoters. g. By the Investor, if within four years from the signing of this Agreement, conditions exist that would allow for a listing of the Company’s equity shares on any agreed Indian stock exchange(s) as contemplated in Clause 5.8 of the Agreement and the Company and/or the Promoters decide for reasons of their own not to seek a listing or unless such listing is postponed at the request of the Investor.