Termination on Insolvency and Change of Control Clause Samples

Termination on Insolvency and Change of Control. 54.1 The CLIENT may terminate the Contract with immediate effect by giving notice in writing where the SERVICE PROVIDER is a company and in respect of the SERVICE PROVIDER: 54.1.1 a proposal is made for a voluntary arrangement within Part I of the Insolvency Act 1986 or of any other composition scheme or arrangement with, or assignment for the benefit of, its creditors; or 54.1.2 a shareholders’ meeting is convened for the purpose of considering a resolution that it be wound up or a resolution for its winding-up is passed (other than as part of, and exclusively for the purpose of, a bona fide reconstruction or amalgamation); or 54.1.3 a petition is presented for its winding up (which is not dismissed within 14 days of its service) or an application is made for the appointment of a provisional liquidator or a creditors’ meeting is convened pursuant to section 98 of the Insolvency Act 1986; or 54.1.4 a receiver, administrative receiver or similar officer is appointed over the whole or any part of its business or assets; or 54.1.5 an application order is made either for the appointment of an administrator or for an administration order, an administrator is appointed, or notice of intention to appoint an administrator is given; or 54.1.6 it is or becomes insolvent within the meaning of section 123 of the Insolvency Act 1986; or 54.1.7 being a “small company” within the meaning of section 247(3) of the Companies Act 1985, a moratorium comes into force pursuant to Schedule A1 of the Insolvency Act 1986; or 54.1.8 any event similar to those listed in 9.1.1 (a)-(g) occurs under the law of any other jurisdiction. 54.2 The SERVICE PROVIDER shall notify the CLIENT immediately if the SERVICE PROVIDER undergoes a change of control within the meaning of section 416 of the Income and Corporation Taxes Act 1988 (“change of control”). The CLIENT may terminate the Contract by notice in writing with immediate effect within six (6) months of: 54.2.1 being notified that a change of control has occurred; or 54.2.2 where no notification has been made, the date that the CLIENT becomes aware of the change of control, 54.2.3 but shall not be permitted to terminate where an Approval was granted prior to the change of control.

Termination on Insolvency and Change of Control. The Authority may terminate this Framework Agreement with immediate effect by notice in writing where the Provider is a company and in respect of the Provider:-

Termination on Insolvency and Change of Control. 57.1. The Service Provider shall notify in writing immediately, and the Purchaser may terminate the Contract with immediate effect by notice, where in respect of the Service Provider: 57.1.1. a proposal is made for a voluntary arrangement within Part I of the Insolvency ▇▇▇ ▇▇▇▇ or of any other composition scheme or arrangement with, or assignation for the benefit of, its creditors; 57.1.2. a shareholders’ meeting is convened for the purpose of considering a resolution that it be wound up or a resolution for its winding-up is passed (other than as part of, and exclusively for the purpose of, a bona fide reconstruction or amalgamation); 57.1.3. a petition is presented for its winding up (which is not dismissed within 14 days of its service) or an application is made for the appointment of a provisional liquidator or a creditors’ meeting is convened pursuant to section 98 of the Insolvency ▇▇▇ ▇▇▇▇; 57.1.4. a receiver, administrative receiver or similar officer is appointed over the whole or any part of its business or assets; 57.1.5. an application order is made either for the appointment of an administrator or for an administration order, an administrator is appointed, or notice of intention to appoint an administrator is given; 57.1.6. it is or becomes insolvent within the meaning of section 123 of the Insolvency ▇▇▇ ▇▇▇▇; 57.1. 7. being a “small company” within the meaning of section 382 of the Companies ▇▇▇ ▇▇▇▇, a moratorium comes into force pursuant to schedule A1 to the Insolvency ▇▇▇ ▇▇▇▇;

Termination on Insolvency and Change of Control. 43.1 The Authority may terminate the Framework Agreement with immediate effect by notice where in respect of the Contractor: 43.1.1 a proposal is made for a voluntary arrangement within Part I of the Insolvency ▇▇▇ ▇▇▇▇ or of any other composition scheme or arrangement with, or assignation for the benefit of, its creditors; 43.1.2 a shareholders’ meeting is convened for the purpose of considering a resolution that it be wound up or a resolution for its winding-up is passed (other than as part of, and exclusively for the purpose of, a bona fide reconstruction or amalgamation); 43.1.3 a petition is presented for its winding up (which is not dismissed within 14 days of its service) or an application is made for the appointment of a provisional liquidator or a creditors’ meeting is convened pursuant to section 98 of the Insolvency ▇▇▇ ▇▇▇▇; 43.1.4 a receiver, administrative receiver or similar officer is appointed over the whole or any part of its business or assets; 42.1.5 an application order is made either for the appointment of an administrator or for an administration order, an administrator is appointed, or notice of intention to appoint an administrator is given; 42.1.6 it is or becomes insolvent within the meaning of section 123 of the Insolvency ▇▇▇ ▇▇▇▇; 42.1.7 being a “small company” within the meaning of section 382 of the Companies ▇▇▇ ▇▇▇▇, a moratorium comes into force pursuant to schedule A1 to the Insolvency ▇▇▇ ▇▇▇▇; 42.1.8 a debt relief order is entered into; or 42.1.9 any event similar to those listed above occurs under the law of any other jurisdiction. 43.2 The Authority may terminate the Framework Agreement by notice with immediate effect within 6 months of: 43.2.1 being notified that a change of Control has occurred in accordance with clause 30 (Assignation and Change of Control); or 43.2.2 where no such notification has been given, the date that the Authority becomes aware of the change of control. 43.3 But the Authority may not terminate the Framework Agreement under clause 43.2 where approval of the change of control has been granted by notice by the Authority.

Termination on Insolvency and Change of Control. 23.1.1 The Customer may terminate the Contract with immediate effect by giving notice in writing to the Supplier where the Supplier is a company and in respect of the Supplier: 23.1.1.1 a proposal is made for a voluntary arrangement within Part I of the Insolvency Act 1986 or of any other composition scheme or arrangement with, or assignment for the benefit of, its creditors; or 23.1.1.2 a shareholders' meeting is convened for the purpose of considering a resolution that it be wound up or a resolution for its winding-up is passed (other than as part of, and exclusively for the purpose of, a bona fide reconstruction or amalgamation); or 23.1.1.3 a petition is presented for its winding up (which is not dismissed within 14 days of its service) or an application is made for the appointment of a provisional liquidator or a creditors' meeting is convened pursuant to Section 98 of the Insolvency Act 1986; or 23.1.1.4 a receiver, administrative receiver or similar officer is appointed over the whole or any part of its business or assets; or 23.1.1.5 an application order is made either for the appointment of an administrator or for an administration order, an administrator is appointed, or notice of intention to appoint an administrator is given; or 23.1.1.6 it is or becomes insolvent within the meaning of Section 123 of the Insolvency Act 1986; or 23.1.1.7 being a "small company" within the meaning of section 382(3) of the Companies Act 2006, a moratorium comes into force pursuant to Schedule A1 of the Insolvency Act 1986; or 23.1.1.8 any event similar to those listed in clause 23.1.1.1 to

Termination on Insolvency and Change of Control. The Authority may terminate the Contractor’s interest in the Framework Agreement with immediate effect by notice where in respect of the Contractor:

Termination on Insolvency and Change of Control. The Authority may terminate the Contract with immediate effect by giving notice in writing where the Contractor is a company and in respect of the Contractor and:

Termination on Insolvency and Change of Control. 49.1 The Council may terminate the Contract with immediate effect by notice in writing where the Contractor is a company and in respect of the Contractor: 49.1.1 a proposal is made for a voluntary arrangement within Part I of the Insolvency ▇▇▇ ▇▇▇▇ or of any other composition scheme or arrangement with, or assignment for the benefit of, its creditors; or 49.1.2 a shareholders’ meeting is convened for the purpose of considering a resolution that it be wound up or a resolution for its winding-up is passed (other than as part of, and exclusively for the purpose of, a bona fide reconstruction or amalgamation); or 49.1.3 a petition is presented for its winding up (which is not dismissed within 14 days of its service) or an application is made for the appointment of a provisional liquidator or a creditors’ meeting is convened pursuant to section 98 of the Insolvency ▇▇▇ ▇▇▇▇; or 49.1.4 a receiver, administrative receiver or similar officer is appointed over the whole or any part of its business or assets; or 49.1.5 an application order is made either for the appointment of an administrator or for an administration order, an administrator is appointed, or notice of intention to appoint an administrator is given; or 49.1.6 it is or becomes insolvent within the meaning of section 123 of the Insolvency ▇▇▇ ▇▇▇▇; or 49.1.7 being a “small company” within the meaning of the Companies ▇▇▇ ▇▇▇▇, a moratorium comes into force pursuant to Schedule A1 of the Insolvency ▇▇▇ ▇▇▇▇; or 49.1.8 any event similar to those listed in 47.1(a)-(g) occurs under the law of any other jurisdiction. 49.2 The Council may terminate the Contract with immediate effect by notice in writing where the Contractor is an individual and: 49.2.1 an application for an interim order is made pursuant to sections 252- 253 of the Insolvency ▇▇▇ ▇▇▇▇ or a proposal is made for any composition scheme or arrangement with, or assignment for the benefit of, the Contractor’s creditors; or 49.2.2 a petition is presented and not dismissed within 14 days or order made for the Contractor’s bankruptcy; or 49.2.3 a receiver, or similar officer is appointed over the whole or any part of the Contractor’s assets or a person becomes entitled to appoint a receiver, or similar officer over the whole or any part of his assets; or 49.2.4 the Contractor is unable to pay his debts or has no reasonable prospect of doing so, in either case within the meaning of section 268 of the Insolvency ▇▇▇ ▇▇▇▇; or 49.2.5 a creditor or encum...

Termination on Insolvency and Change of Control. The Authority may terminate this Framework Agreement with immediate effect by notice in writing where the Provider is a company and in respect of the Provider:- a proposal is made for a voluntary arrangement within Part I of the Insolvency ▇▇▇ ▇▇▇▇ or of any other composition scheme or arrangement with, or assignment for the benefit of, its creditors; or a shareholders' meeting is convened for the purpose of considering a resolution that it be wound up or a resolution for its winding-up is passed (other than as part of, and exclusively for the purpose of, a bona fide reconstruction or amalgamation); or a petition is presented for its winding up (which is not dismissed within 14 days of its service) or an application is made for the appointment of a provisional liquidator or a creditors' meeting is convened pursuant to Section 98 of the Insolvency ▇▇▇ ▇▇▇▇; or a receiver, administrative receiver or similar officer is appointed over the whole or any part of its business or assets; or an application order is made either for the appointment of an administrator or for an administration order, an administrator is appointed, or notice of intention to appoint an administrator is given; or it is or becomes insolvent within the meaning of Section 123 of the Insolvency ▇▇▇ ▇▇▇▇; or being a "small company" within the meaning of Section 247(3) of the Companies ▇▇▇ ▇▇▇▇, a moratorium comes into force pursuant to Schedule A1 of the Insolvency ▇▇▇ ▇▇▇▇; or any event similar to those listed in Clause 23.3.1 to Clause 23.3.7 occurs under the law of any other jurisdiction.