Termination in event of default, bankruptcy, etc., of publisher.

In the event we breach any term or condition of this agreement or fail to render true and accurate statements if and when called for or fail to pay you the money due in the amount and at the time provided, and any such default is not cured within _________ days after written notification by you to us that such default has been committed, or in the event we shall reorganize or file a petition in bankruptcy or be adjudged a bankrupt, or make an assignment for the benefit of creditors or become insolvent, or if a receiver is appointed for our property, then on the happening of any such events, this agreement shall automatically and without further notice cease and terminate and thereon neither we, nor our representatives, receivers, trustees, agents and successors shall have any further right to publish, sell or deal in or with magazine issues for which your names, characters, and all other matters are licensed under the terms of this agreement. A termination of this agreement under the provisions of this paragraph or otherwise shall not in any manner affect the retention of any or all money in royalties previously paid to you and shall not in any manner affect our obligation to account for and pay over to you any money due by reason of the publication and sale of copies published prior to the termination of this agreement.