Common use of Business Termination Clause in Contracts

Business Termination. At JHA’s option, all of Licensee’s rights under this Agreement shall terminate, and the Software shall be returned to JXX if the ownership or management of Licensee or any of its subsidiaries changes by reason of voluntary or involuntary bankruptcy, receivership, conservatorship, custodianship, assignment for benefit of creditors, seizure of assets, liquidation, dissolution, ceasing to do business, or action by FDIC, RTC or other State or Federal authorities which would divest control from present ownership and management of Licensee. In the event JXX ceases to do business, the successor to JHA’s assets will be bound by this Agreement the same as JXX, and Licensee may continue to use the Software under all the terms and conditions of this Agreement. If there is no successor to JHA’s assets, then the Software shall become the non-exclusive proprietary product of Licensee subject to all of the confidentiality restrictions described in paragraph 11 above; except that Licensee may reveal Software and/or materials to third parties for the sole purpose of maintenance and customization of the Software for the sole use of Licensee, provided said third parties have signed similar written confidentiality restrictions.

Business Termination. At JHA’s 's option, all of Licensee’s 's rights under --------------------- this Agreement shall terminate, and the Software shall be returned to JXX XXX if the ownership or management of Licensee or any of its subsidiaries changes by reason of voluntary or involuntary bankruptcy, receivership, conservatorship, custodianship, assignment for benefit of creditors, seizure of assets, liquidation, dissolution, ceasing to do business, or action by FDIC, RTC or other State or Federal authorities which would divest control from present ownership and management of Licensee. In the event JXX XXX ceases to do business, the successor to JHA’s 's assets will be bound by this Agreement the same as JXXXXX, and Licensee may continue to use the Software under all the terms and conditions of this Agreement. If there is no successor to JHA’s 's assets, then the Software shall become the non-exclusive proprietary product of Licensee subject to all of the confidentiality restrictions described in paragraph 11 7 above; , except that Licensee may reveal Software and/or materials to third parties for the sole purpose of maintenance and customization of the Software for the sole use of Licensee, provided said third parties have signed similar written confidentiality restrictions.

Business Termination. At JHA’s 's option, all of Licensee’s 's rights under this Agreement shall terminate, and the Software shall be returned to JXX XXX if the ownership or management of Licensee or any of its subsidiaries changes by reason of voluntary or involuntary bankruptcy, receivership, conservatorship, custodianship, assignment for benefit of creditors, seizure of assets, liquidation, dissolution, ceasing to do business, or action by FDIC, RTC or other State or Federal authorities which would divest control from present ownership and management of Licensee. In the event JXX XXX ceases to do business, the successor to JHA’s 's assets will be bound by this Agreement the same as JXXXXX, and Licensee may continue to use the Software under all the terms and conditions of this Agreement. If there is no successor to JHA’s 's assets, then the Software shall become the non-exclusive proprietary product of Licensee subject to all of the confidentiality restrictions described in paragraph 11 7 above; except that Licensee may reveal Software and/or materials to third parties for the sole purpose of maintenance and customization of the Software for the sole use of Licensee, provided said third parties have signed similar written confidentiality restrictions.