Common use of Term and Termination of Services Clause in Contracts

Term and Termination of Services. (a) This Agreement shall terminate upon the first anniversary (the “Termination Date”) of the Distribution Date (as defined in the Separation Agreement). (b) Notwithstanding the foregoing: (i) the Parties may terminate this Agreement by mutual written consent and (ii) the Parties each reserve the right to immediately terminate this Agreement by written notice to the other Party in the event that such other Party shall have (A) applied for or consented to the appointment of a receiver, trustee or liquidator; (B) admitted in writing an inability to pay debts as they mature; (C) made a general assignment for the benefit of creditors; or (D) filed a voluntary petition, or have filed against it a petition, for an order of relief under Title 11 of the United States Code Section 101 et seq., as the same may be amended from time to time.