Common use of Termination by GROUP Clause in Contracts

Termination by GROUP. Group shall have Cause for termination of this Agreement under the following circumstances: 10.1.1 If Hythiam shall apply for or consent to the appointment of a receiver, trustee or liquidator of all or substantially all of its assets, file a voluntary petition in bankruptcy or admit in writing the inability to pay its debts as they become due, have a petition for involuntary bankruptcy filed against it and such petition is not dismissed within 30 days, make a general assignment for the benefit of creditors, or take advantage of any insolvency Law, subject to a 30-day cure period after written notice of termination by Group; 10.1.2 If Group presents reasonable evidence that continuation of this Agreement will result directly in a sustained lack of profitability to Group, subject to 30 days’ advance written notice to Hythiam and no cure period; 10.1.3 If any executive officer of Hythiam shall be convicted of a felony or of a misdemeanor involving moral turpitude, notwithstanding an appeal of such conviction may be pending (any such conviction to be promptly reported to Group), in each case, subject to Hythiam’s receipt of notice to such effect from Group; or