The receiver shall record the automatic termination of the contract at the request of the other party:
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if the trustee does not comply with the formal notice under Article 108 above within the time limit, while highlighting that providing the service promised to the other party before the expiry of such period shall mean the decision to pursue the contract;
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if the trustee, after requiring the pursuance of the contract does not provide the promised service to the other party or in the event of default of a due payment where the contract execution or payment in installments over time.
The receiver may declare the termination of the contract at the request of the trustee:
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provided that it does not excessively damage the interests of the other contractual party, when the trustee decides not to pursue the contract, in the absence of any formal notice or when, after requiring the execution of a running contract, he notices that this contract is not or is no longer useful for the pursuit of the activity or the safeguard of the debtor company;
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If after requiring the execution of a running contract in which the debtor shall pay a sum of money, the trustee notices that he may not render the promised service or he does not dispose of the necessary funds to meet the obligations of the next installment.
The termination may give rise to damages for which amount is marked on the liabilities of reorganization or assets liquidation proceedings. The other party shall have thirty (30) days from the realization of assets to file his claim. These damages may be offset against claims arising out of the breach of contract, prior to the opening of the bankruptcy proceedings decision.
P. 74 of 139
Unofficial translation
Transcription: Spot-checked
In force from 24-12-2015
Source page 73
The document's transcription was spot-checked against the supplied source; this does not confirm a line-by-line review of every provision.
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Section 109 of the Acte uniforme portant organisation des procédures collectives d'apurement du passif/akn/ohada/act/loi/2015-09-10/aupcap-2015
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