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GPS » Topics » 33.4 Termination for Insolvency

This excerpt taken from the GPS 10-Q filed Jun 9, 2009.

33.4 Termination for Insolvency

In addition to Gap’s rights under Section 38 (Bankruptcy and Liquidation), in the event Supplier becomes or is declared insolvent, becomes subject to a voluntary or involuntary bankruptcy or similar proceeding, or makes an assignment for the benefit of all or substantially of all of its creditors, then in such event Gap may terminate this Agreement on ten (10) days written notice to Supplier.

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