English to Danish Law/Patents Law: Contract(s) Konkurs

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Kontekst: forhandlerkontrakt, paragraf om gyldige grunde til utidig opsigelse

Forklaring af begrebet i kontrakten:

1.1.1“Act of Bankruptcy” in relation to either party shall mean:

1.1.1.1.the suspension or cessation of a party’s business activities for a continuous period of not less than 90 days;

1.1.1.2.the presentation of a petition by a party or the passing of a resolution that a party be wound up or liquidated;

1.1.1.3.the appointment of a receiver and/or manager in respect of any of the property or assets of a party;

1.1.1.4.the assignment of any rights or other property by a party for the benefit of its creditors;

1.1.1.5.the making of any voluntary arrangement by a party with its creditors; and

1.1.1.6.any other act which shows that a party is insolvent.