Common use of Service Provider Default Clause in Contracts

Service Provider Default. Each of the following constitutes a default by Service Provider (“Service Provider Default”): (a) if Service Provider fails to perform or comply with any other obligation of Service Provider under this Agreement within thirty (30) days after receipt of written notice from Customer; provided, however, that if within that thirty (30)-day period, Service Provider commences and thereafter diligently pursues a cure such default, such thirty (30)-day cure period shall be extended for so long as Service Provider continues to diligently pursue a cure; (b) if Service Provider files a voluntary petition in bankruptcy or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking an arrangement, composition, liquidation or dissolution under any present or future Federal, State, provincial, or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors, or shall seek or consent to or acquiesce in the appointment of a trustee, receiver or liquidator of Service Provider or of all or a substantial part of its assets, or shall make a general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; or (c) if a court enters an order, judgment or decree approving a petition filed against Service Provider seeking an arrangement, composition, liquidation, dissolution or similar relief under the present or future Federal, State or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors, and the order, judgment or decree remains un-vacated or un-stayed for sixty (60) days. If a Service Provider Default occurs, Customer may, in addition to or in conjunction with any claim for damages for breach of agreement or any other rights or remedies it may have under this MCSA and any Agreement hereunder, at law or in equity terminate the Agreement solely with respect to the Agreement under which such Service Provider Default occurred.

Service Provider Default. Each of the following constitutes a default by Service Provider (“Service Provider Default”): (a) if Service Provider fails to perform or comply with any other obligation of Service Provider under this Agreement within thirty (30) days after receipt of written notice from Customer; provided, however, that if within that thirty (30)-day period, Service Provider commences and thereafter diligently pursues a cure such default, such thirty (30)-day cure period shall be extended for so long as Service Provider continues to diligently pursue a cure; (b) if Service Provider files a voluntary petition in bankruptcy or is adjudicated a bankrupt or insolvent, or files any petition or answer seeking an arrangement, composition, liquidation or dissolution under any present or future Federal, State, provincial, or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors, or shall seek or consent to or acquiesce in the appointment of a trustee, receiver or liquidator of Service Provider or of all or a substantial part of its assets, or shall make a general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; or (c) if a court enters an order, judgment or decree approving a petition filed against Service Provider seeking an arrangement, composition, liquidation, dissolution or similar relief under the present or future Federal, State or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors, and the order, judgment or decree remains un-vacated or un-stayed for sixty (60) days. If a Service Provider Default occurs, Customer may, in addition to or in conjunction with any claim for damages for breach of agreement or any other rights or remedies it may have under this MCSA MMSA and any Agreement hereunder, at law or in equity terminate the Agreement solely with respect to the Agreement under which such Service Provider Default occurred.