Common use of BREACH AND TERMINATION Clause in Contracts

BREACH AND TERMINATION. 1. The failure of the Grantee or the Sponsoring Institution to adhere to any of the terms and conditions of the Agreement may constitute sufficient grounds for LLS, at its discretion, to withhold any or all funds due pursuant to this Agreement until such time as the default is corrected, or to terminate the Grant. 2. As described in Section L, Reporting Requirements, LLS reserves the right in its sole discretion to terminate any Grant based on its review of Progress, Patent/Invention Disclosure, and/or Financial Reports. 3. Any of LLS, the Grantee or the Sponsoring Institution may terminate this Agreement upon giving ninety (90) days’ written notice to the other Parties. In such case, any unexpended balance of the Grant funds must be returned to LLS within thirty (30) days of the termination of the Grantee’s employment or the expiration of the notice period, whichever is sooner.

BREACH AND TERMINATION. 1. The failure of the Grantee or the Sponsoring Institution to adhere to any of the terms and conditions of the this Agreement may constitute sufficient grounds for LLS, at its sole discretion, to withhold any or all funds due pursuant to this Agreement until such time as the default is corrected, or to terminate the Grant. 2. As described in Section LN, Reporting Requirements, LLS reserves the right in its sole discretion to suspend or terminate any Grant based on its review of Progress, Patent/Invention Disclosure, and/or Financial Reports. 3. Any of LLS, the Grantee or the Sponsoring Institution may terminate this Agreement upon giving ninety (90) days’ written notice to the other Parties. In such case, any unexpended balance of the Grant funds must be returned to LLS within thirty (30) days of the termination of the Grantee’s employment or the expiration of the notice period, whichever is sooner.