Termination for a cause. Without prejudice to other rights or rem- edies, either Party may terminate this Agreement with immediate effect by giving written notice to the other Party if (i) the other Party commits a fundamental breach of any term of the Agreement, and fails to remedy according to art. 17.1, (ii) a petition is filed against the other Party for a moratorium of payment, bankruptcy or a similar legal arrangement, the other Party takes any step or action in connection with its winding-up or any composition or arrangement with its creditors, having a receiver ap- pointed to any of its assets or, in general, the other Party’s financial situa- tion deteriorates to a level that the other Party will reasonably be unable to meet its obligations under this Agreement; (iii) the other Party decides to close its business; or (iv) any direct or indirect change in control of the other Party.
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Termination for a cause. Without prejudice to other rights or rem- edies, either Party may terminate this Agreement with immediate effect by giving written notice to the other Party if (i) the other Party commits a fundamental breach of any term of the Agreement, and fails to remedy according to art. 17.1, (ii) a petition is filed against the other Party for a moratorium of payment, bankruptcy or a similar legal arrangement, the other Party takes any step or action in connection with its winding-up or any composition or arrangement with its creditors, having a receiver ap- pointed to any of its assets or, in general, the other Party’s financial situa- tion situ- ation deteriorates to a level that the other Party will reasonably be unable to meet its obligations under this Agreement; (iii) the other Party decides to close its business; or (iv) any direct or indirect change in control of the other Party.
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