Common use of Cessation of Payments Clause in Contracts

Cessation of Payments. Without limiting the Company’s rights and remedies hereunder, at law or in equity, the Executive acknowledges and agrees that the right of the Executive to receive and retain any payments otherwise due to him hereunder will be suspended and cancelled if and for so long as he is in breach of any provision of this Section. If and when the Executive has cured any such breach and has tendered to the Company any and all economic benefits directly or indirectly received or receivable by him arising therefrom, such right will automatically be reinstated, but only for the remainder of the period, if any, during which such payments are due.

Cessation of Payments. Without limiting the Company’s rights and remedies hereunder, at law or in equity, the Executive acknowledges and agrees that the right of the Executive to receive and retain any payments otherwise due to him hereunder will be suspended and cancelled if and for so long as he the Executive is in breach of any provision of this SectionSection 6. If and when the Executive has cured any such breach and has tendered to the Company any and all economic benefits directly or indirectly received or receivable by him the Executive arising therefrom, such right will automatically be reinstated, but only for the remainder of the period, if any, during which such payments are due.