Common use of Termination by a Party Clause in Contracts

Termination by a Party. Notwithstanding Section 7.1, this Agreement may be terminated by written notice of termination given by a Party to the other Party if any of the following events occur: (a) upon breach by such other Party of any term, condition or provision to be observed or performed by such Party hereunder where such breach has not been rectified within 30 days of receipt of written notice identifying the breach; (b) if the other Party makes an assignment in bankruptcy or a petition in bankruptcy is filed against the other Party, if the other Party becomes bankrupt or insolvent or avails itself of any legislation that may from time to time be in force which is of advantage to a bankrupt or insolvent person, if a trustee, liquidator, receiver, manager or custodian is appointed with respect to any of the property or assets of any such Party or if a writ of execution or similar process is obtained against the other Party and is not satisfied within 30 days of the issuance thereof; or (c) any legislative or policy change by the Government of Canada or the Government of Ontario or their agents relating to the regulation and control of the sale of Beer in Ontario that has a negative impact on such Party.

Termination by a Party. Notwithstanding Section 7.16.1, this Agreement may be terminated by written notice of termination given by a Party to the other Party if any of the following events occur: (a) upon breach by such other Party of any term, condition or provision to be observed or performed by such Party hereunder where such breach has not been rectified within 30 days of receipt of written notice identifying the breach; (b) if the other Party makes an assignment in bankruptcy or a petition in bankruptcy is filed against the other Party, if the other Party becomes bankrupt or insolvent or avails itself of any legislation that may from time to time be in force which is of advantage to a bankrupt or insolvent person, if a trustee, liquidator, receiver, manager or custodian is appointed with respect to any of the property or assets of any such Party or if a writ of execution or similar process is obtained against the other Party and is not satisfied within 30 days of the issuance thereof; or (c) any legislative or policy change by the Government of Canada or the Government of Ontario or their agents relating to the regulation and control of the sale of Beer in Ontario that has a negative impact on such Party.