Common use of Breach Default and Termination Clause in Contracts

Breach Default and Termination. (a) Any of the following events shall constitute a breach of this Agreement by either party: (i) An affirmative act of insolvency or the filing of a petition under any bankruptcy reorganization, insolvency, or any law for the relief of, or relating to debt, or the appointment of a receiver or trustee to take possession of any property of such party; or (ii) A breach of any representation or warranty, or non-fulfillment of any covenant or obligation by such party. (b) Upon any breach by either party of this Agreement, the non-breaching party shall give the breaching party notice of such breach pursuant to the notice provisions of Paragraph 5 hereof and the non-breaching party shall have five business days once notice has been so given thereunder to cure such breach and if not cured (or be diligently attempting such cure) within such period of time, the non-breaching party shall have the right to declare this Agreement in default and immediately terminate this Agreement upon notice to the breaching party pursuant to said notice provisions. Upon such default, the non-breaching party shall be entitled to pursue whatever remedies may be available to it/him on a cumulative basis at law and/or in equity. (c) This Agreement may be terminated: (i) upon the death or permanent disability of Arnt, (ii) upon mutual agreement of the parties, (iii) by either party without cause upon 30 days’ prior written notice to the other party, or (iv) upon default by either party of this Agreement pursuant to Paragraph 6(b). Upon any termination, all sums or other interests, which shall otherwise be due to either party shall be promptly paid, and all Confidential Information shall be returned to or as directed by Aleph.

Breach Default and Termination. (a) Any of the following events shall constitute a breach of this Agreement by either party: (i) An affirmative act of insolvency or the filing of a petition under any bankruptcy reorganization, insolvency, or any law for the relief of, or relating to debt, or the appointment of a receiver or trustee to take possession of any property of such party; or (ii) A breach of any representation or warranty, or non-fulfillment of any covenant or obligation by such party. (b) Upon any breach by either party of this Agreement, the non-breaching party shall give the breaching party notice of such breach pursuant to the notice provisions of Paragraph 5 hereof and the non-breaching party shall have five business days once notice has been so given thereunder to cure such breach and if not cured (or be diligently attempting such cure) within such period of time, the non-breaching party shall have the right to declare this Agreement in default and immediately terminate this Agreement upon notice to the breaching party pursuant to said notice provisions. Upon such default, the non-breaching party shall be entitled to pursue whatever remedies may be available to it/him on a cumulative basis at law and/or in equity. (c) This Agreement may be terminated: (i) upon the death or permanent disability of ArntKhan, (ii) upon mutual agreement of the parties, (iii) by either party without cause upon 30 days’ prior written notice to the other party, or (iv) upon default by either party of this Agreement pursuant to Paragraph 6(b). Upon any termination, all sums or other interests, including Equity Interests or loans, which shall otherwise be due to either party shall be promptly paid, and all Confidential Information shall be returned to or as directed by AlephAxxxx.

Breach Default and Termination. (a) Any of the following events shall constitute a breach of this Agreement by either party: (i) An affirmative act of insolvency or the filing of a petition under any bankruptcy reorganization, insolvency, or any law for the relief of, or relating to debt, or the appointment of a receiver or trustee to take possession of any property of such party; or (ii) A breach of any representation or warranty, or non-fulfillment of any covenant or obligation by such party. (b) Upon any breach by either party of this Agreement, the non-breaching party shall give the breaching party notice of such breach pursuant to the notice provisions of Paragraph 5 hereof and the non-breaching party shall have five business days once notice has been so given thereunder to cure such breach and if not cured (or be diligently attempting such cure) within such period of time, the non-breaching party shall have the right to declare this Agreement in default and immediately terminate this Agreement upon notice to the breaching party pursuant to said notice provisions. Upon such default, the non-breaching party shall be entitled to pursue whatever remedies may be available to it/him on a cumulative basis at law and/or in equity. (c) This Agreement may be terminated: (i) upon the death or permanent disability of Arnt, (ii) upon mutual agreement of the parties, (iii) by either party without cause upon 30 days’ prior written notice to the other party, or (iv) upon default by either party of this Agreement pursuant to Paragraph 6(b). Upon any termination, all sums or other interests, which shall otherwise be due to either party shall be promptly paid, and all Confidential Information shall be returned to or as directed by AlephXxxxx.

Breach Default and Termination. (a) Any of the following events shall constitute a breach of this Agreement by either party: (i) An affirmative act of insolvency or the filing of a petition under any bankruptcy reorganization, insolvency, or any law for the relief of, or relating to debt, or the appointment of a receiver or trustee to take possession of any property of such party; or (ii) A breach of any representation or warranty, or non-fulfillment of any covenant or obligation by such party. (b) Upon any breach by either party of this Agreement, the non-breaching party shall give the breaching party notice of such breach pursuant to the notice provisions of Paragraph 5 hereof and the non-breaching party shall have five business days once notice has been so given thereunder to cure such breach and if not cured (or be diligently attempting such cure) within such period of time, the non-breaching party shall have the right to declare this Agreement in default and immediately terminate this Agreement upon notice to the breaching party pursuant to said notice provisions. Upon such default, the non-breaching party shall be entitled to pursue whatever remedies may be available to it/him on a cumulative basis at law and/or in equity. (c) This Agreement may be terminated: (i) upon the death or permanent disability of ArntKhan, (ii) upon mutual agreement of the parties, (iii) by either party without cause upon 30 days’ prior written notice to the other party, or (iv) upon default by either party of this Agreement pursuant to Paragraph 6(b). Upon any termination, all sums or other interests, including Equity Interests or loans, which shall otherwise be due to either party shall be promptly paid, and all Confidential Information shall be returned to or as directed by Aleph.