Automatic Termination of License. For avoidance of doubt, upon termination or expiration of this Agreement for any reason whatsoever, the license contemplated hereunder shall be deemed automatically terminated. Under no circumstances whatsoever shall either Party be required to take any further action to effectuate this provision.
Automatic Termination of License. Any License issued pursuant to this Agreement shall automatically terminate when Operator ceases to have authority to construct and operate its facilities on public or private property at the location of the particular Pole(s) or segment of the Network covered by the License. Notwithstanding the foregoing, to the extent Operator is pursuing a challenge of the revocation of any such permission; Operator may remain on the particular Pole(s) until such time as all appeals and remedies are exhausted.
Automatic Termination of License. The rights and licenses granted to KCAP herein shall automatically terminate upon the termination of this Agreement for any reason. Upon such termination, KCAP shall immediately and permanently cease all use of the Tradename and shall, at Kohlberg & Co.’s request, take all steps and actions as Kohlberg & Co. may deem necessary to reflect or confirm such termination and surrender of KCAP’s rights to use same. KCAP shall not be entitled to any compensatory payment upon such termination or surrender for any reason.
Automatic Termination of License. This License shall terminate automatically in any one or more of the following circumstances: a.) in the event that Calmec is ordered or adjudged bankrupt or is placed in the hands of a receiver, or otherwise enters into any scheme or composition with its creditors or makes an unauthorized assignment for the benefit of creditors; b.) in the event that the assets of Calmec are seized or attached, in conjunction with any action against it by any third party; or c.) in the event that Calmec is dissolved, or that a sale of all or substantially all of the assets of Calmec is made, or that this Agreement is attempted to be assigned by Calmec without the prior written consent of Xxxxxxxxx.
Automatic Termination of License. Upon the occurrence of an Event of Default and after expiration of the applicable grace or cure period without the Event of Default being cured, the License shall, ipso facto, automatically terminate without the necessity that Lender gives Borrower any nature of notice or institute against Borrower any nature of legal proceedings or take any other action. Upon the automatic termination of the License and upon written notice to Borrower thereof, Borrower agrees that unless Lender gives Borrower written instructions to the contrary, all payments made under the Leases and MH Contracts thereafter received by Borrower shall, in their entirety, be promptly paid over by Borrower to Lender and Lender may exercise any and all legal and equitable remedies. Under no circumstances, however, does Lender’s legal ownership of the Leases and MH Contracts depend upon the occurrence of any such Event of Default or the resulting automatic termination of Borrower’s License or the giving of notice by Lender or the filing of any lawsuit or the taking of any other action whatsoever by Lender, it being the agreement and intention of Borrower and Lender that this assignment is absolute (not collateral) and immediately vests ownership of the Assigned Documents and Liens in Lender.
