Common use of Removal of Operator Clause in Contracts

Removal of Operator. Operator may be removed by MPC and this Agreement shall be terminated if: (a) Operator shall neglect or fail to perform any or all of its material obligations under this Agreement and after thirty (30) days written notice of such default fails to rectify the same; or (b) Operator becomes bankrupt or insolvent, commits or suffers any act of bankruptcy or insolvency, is placed in receivership, seeks debt or relief protection under any applicable legislation and such is not rectified within thirty (30) days of such event; or (c) Operator assigns or purports to assign its general powers and responsibility of supervision and management as Operator hereunder without the prior written consent of MPC. If Operator is terminated under Section 15.2, Operator shall only be entitled to its Reimbursable Charges due or incurred to the date of termination.

Removal of Operator. Operator may be removed by MPC HST and this Agreement shall be terminated if: (a) Operator shall neglect or fail to perform any or all of its material obligations under this Agreement and after thirty (30) days written notice of such default fails to rectify the same; or (b) Operator becomes bankrupt or insolvent, commits or suffers any act of bankruptcy or insolvency, is placed in receivership, seeks debt or relief protection under any applicable legislation and such is not rectified within thirty (30) days of such event; or (c) Operator assigns or purports to assign its general powers and responsibility of supervision and management as Operator hereunder without the prior written consent of MPCHST. If Operator is terminated under Section 15.2, Operator shall only be entitled to its Reimbursable Charges due or incurred to the date of termination.