Common use of Default; Early Termination Clause in Contracts

Default; Early Termination. The Service Agreement may be terminated immediately upon notice if either Party: a. Fails to fulfill any material obligation of this Agreement, or fails to remedy or cure such breach or default within ten (10) days following notice to the defaulting Party (the “Cure Period”); b. Becomes insolvent, makes a general assignment for benefit of creditors, files a voluntary petition of bankruptcy, suffers or permits the appointments of receiver for its business or assets, or becomes subject to any proceedings under any bankruptcy or insolvency law, whether domestic or foreign; c. Engages in actions or omissions hereunder which (i) constitute a violation of any law, regulation or tariff; (ii) are defamatory, fraudulent or deceptive; (iii) are intended to threaten, harass or intimidate; or (iv) are intended to damage the name or reputation of the other Party. Under no circumstances shall early termination of the Service Agreement, by either Party for any reason whatsoever, result in the waiver of Customer’s obligation to pay any Service Fees and/or Late Fees due and owed to Nex-Tech up to and through the date of termination. In the event the Service Agreement is terminated prior to the expiration of the Initial Term or any then-current Renewal Term Nex-Tech shall bill Customer, and Customer shall be obligated to pay, an “Early Termination Fee” equal to a) any outstanding Service Fees and/or Late Fees owed to Nex-Tech up to and through the date of termination, plus b) a monthly Service Fee calculated at one-hundred percent (100%) of Customer’s average monthly billing under the Service Agreement – using the three (3) most recent monthly invoices from Nex-Tech – for each month remaining in the then-current Term. Such payment shall be made to Nex-Tech within thirty (30) days of termination, using funds immediately available to Nex-Tech.

Default; Early Termination. The Service Agreement may be terminated immediately upon notice if either Party: a. Fails to fulfill any material obligation of this Agreement, or fails to remedy or cure such breach or default within ten (10) days following notice to the defaulting Party (the “Cure Period”); b. Becomes insolvent, makes a general assignment for benefit of creditors, files a voluntary petition of bankruptcy, suffers or permits the appointments of receiver for its business or assets, or becomes subject to any proceedings under any bankruptcy or insolvency law, whether domestic or foreign; c. Engages in actions or omissions hereunder which (i) constitute a violation of any law, regulation or tariff; (ii) are defamatory, fraudulent or deceptive; (iii) are intended to threaten, harass or intimidate; or (iv) are intended to damage the name or reputation of the other Party. Under no circumstances shall early termination of the Service Agreement, by either Party for any reason whatsoever, result in the waiver of Customer’s obligation to pay any Service Fees and/or Late Fees due and owed to Nex-Tech up to and through the date of termination. In the event the Service Agreement is terminated prior to the expiration of the Initial Term or any then-current Renewal Term Nex-Tech shall bill Customer, and Customer shall be obligated to pay, an “Early Termination Fee” equal to a) any outstanding Service Fees and/or Late Fees owed to Nex-Tech up to and through the date of termination, plus b) a monthly Service Fee calculated at one-hundred percent (100%) of Customer’s average monthly billing under the Service Agreement – using the three (3) most recent monthly invoices from Nex-Tech – for each month remaining in the then-current Term. Such payment shall be made to Nex-Tech within thirty (30) days of termination, using funds immediately available to Nex-Tech.

Default; Early Termination. The Service Agreement may be terminated immediately upon notice if either Party: a. Fails to fulfill any material obligation of this Agreement, or fails to remedy or cure such breach or default within ten (10) days following notice to the defaulting Party (the “Cure Period”);; or b. Becomes insolvent, makes a general assignment for benefit of creditors, files a voluntary petition of bankruptcy, suffers or permits the appointments of receiver for its business or assets, or becomes subject to any proceedings under any bankruptcy or insolvency law, whether domestic or foreign;; or c. Engages in actions or omissions hereunder which which: (i) constitute a violation of any law, regulation or tariff; (ii) are defamatory, fraudulent or deceptive; (iii) are intended to threaten, harass or intimidate; or (iv) are intended to damage the name or reputation of the other Party. Under no circumstances shall early termination of the Service Agreement, by either Party Party, for any reason whatsoever, result in the waiver of Customer’s obligation to pay any Service Fees and/or Late Fees due and owed to Nex-Tech up to and through the date of termination. In the event the Service Agreement is terminated prior to the expiration of the Initial Term or any then-then- current Renewal Term Term, Nex-Tech shall bill Customer, and Customer shall be obligated to pay, an “Early Termination Fee” equal to to: (a) any outstanding Service Fees and/or Late Fees owed to Nex-Tech up to and through the date of termination, ; plus (b) a monthly Service Fee calculated at one-hundred percent 100% of the Monthly Recurring Charges (100%MRC) for the remaining term of Customer’s average monthly billing under the Service Agreement – using terminated Services if terminated anytime within the three (3) most recent monthly invoices from Nex-Tech – for each month remaining in first year of the then-current Term. Such payment shall be made to Nex-Tech within thirty (30) days of termination, using funds immediately available to Nex-Tech.applicable term;