Dissolution of KK by Material Breach Sample Clauses

Dissolution of KK by Material Breach. Notwithstanding the foregoing, in the event of dissolution of the KK by reason of material breach of the JV Agreement, the KK shall assign this Agreement to the Terminating Shareholder (as defined in the JV Agreement) and all licenses granted hereunder shall continue in full force and effect as set forth in this Agreement. The Terminating Shareholder shall have ongoing exclusive use of the Localized version of the AJ Assets and KK Assets. The KK shall assign ownership of the KK Assets to the Terminating Shareholder. The KK shall assign its undivided one-half interest in ------- |*| Indicates that certain information in this exhibit has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
Sample 1
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Dissolution of KK by Material Breach. Notwithstanding the foregoing, in the event of dissolution of the KK by reason of material breach of the JV Agreement, the KK shall assign this Agreement to the Terminating Shareholder (as defined in the JV Agreement) and all licenses granted hereunder shall continue in full force and effect as set forth in this Agreement. The Terminating Shareholder shall have ongoing exclusive use of the Localized version of the AJ Assets and KK Assets. The KK shall assign ownership of the KK Assets to the Terminating Shareholder. The KK shall assign its undivided one-half interest in and to the Derived KK Content to the Terminating Shareholder, subject to all restrictions set forth in Section 2(f) of this Agreement, which shall continue in frill force and effect. The License to the XX Xxxxx shall be transferred to the Terminating Shareholder, and the Terminating Shareholder shall obtain all rights, and assume all obligations of the KK for all purposes, including without limitation, this Agreement. Without limiting the KK's obligations under Section 4, (A) the Defaulting Party shall [*] Indicates that certain information in this exhibit has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. otherwise return or destroy all Confidential Information to the nonbreaching party and certify in writing that it has done so, provided that the Defaulting Party shall not be required to (I) destroy items which it requires to continue operating its business in the ordinary course (so long as such items remain Confidential) or (II) purge backup and archival copies of its information made in the ordinary course of business which may contain the nonbreaching party's Confidential Information; and (B) the nonbreaching party will return or destroy all of Defaulting Party's Confidential Information and certify that it has done so, provided that the nonbreaching party shall not be required to (I) destroy items which it requires to continue operating its business in the ordinary course (so long as such items remain Confidential) or (II) purge backup and archival copies of its information made in the ordinary course of business which may contain the Defaulting Party's Confidential Information.
Sample 1

Related to Dissolution of KK by Material Breach

  • Termination upon Material Breach Notwithstanding the foregoing, a Party may terminate this Agreement if any other Party materially breaches a material provision of this Agreement and such material breach is not cured (i) within thirty (30) days after being given notice of the breach in the case of a material breach of an obligation to make payment hereunder or (ii) within sixty (60) days after being given notice of the breach in the case of any other material breach.

  • Termination for Material Breach If either Party (the “Non-Breaching Party”) believes that the other Party (the “Breaching Party”) has materially breached one or more of its material obligations under this Agreement, then the Non-Breaching Party may deliver notice of such material breach to the Breaching Party (a “Default Notice”). If the Breaching Party does not dispute that it has committed a material breach of one or more of its material obligations under this Agreement, then if the Breaching Party fails to cure such breach within *** days after receipt of the Default Notice, or if such compliance cannot be fully achieved through diligent efforts within such *** day period but the Breaching Party has failed to promptly commence compliance or has failed to use diligent efforts to achieve full compliance as soon thereafter as is reasonably possible, or if full compliance is not achieved in any event within *** days after receipt of the Default Notice, then the Non-Breaching Party may terminate this Agreement upon written notice to the Breaching Party. If the Breaching Party disputes that it has materially breached one or more of its material obligations under this Agreement, the dispute shall be resolved pursuant to Section 11.7. If, as a result of the application of such dispute resolution procedures, the Breaching Party is determined to be in material breach of one or more of its material obligations under this Agreement (an “Adverse Ruling”), then if the Breaching Party fails to cure any breach specified by the Adverse Ruling within *** days after such ruling, or if such compliance cannot be fully achieved through diligent efforts within such *** day period but the Breaching Party has failed to promptly commence compliance or has failed to use diligent efforts to achieve full compliance as soon thereafter as is reasonably possible, or if full compliance is not achieved in any event within *** days after the Adverse Ruling, then the Non-Breaching Party may terminate this Agreement upon written notice to the Breaching Party.

  • Material Breach Either party may, upon giving thirty (30) days written notice, terminate this Agreement for the other party’s breach of any of its material obligations under this Agreement, provided that the breaching party shall not have cured such breach within the thirty (30) day notice period.

  • Termination by Either Party This Agreement may be terminated upon 60 days written notice without cause or penalty by either the Company (acting through the Conflicts Committee) or the Advisor. The provisions of Articles 1, 10, 12, 13, 15 and 16 shall survive termination of this Agreement.

  • Notification of Breach The Seller will advise the Issuer promptly, in reasonable detail, upon discovery of the occurrence of any breach in any material respect by the Seller of any of its representations, warranties and covenants contained herein or in any other Transaction Documents (and the Issuer promptly shall forward such notice to the Administrative Agent and the Indenture Trustee).

  • Termination by Operation of Law This Agreement may be terminated by any Party hereto if there shall be any statute, rule or regulation that renders consummation of the transactions contemplated by this Agreement (the “Contemplated Transactions) illegal or otherwise prohibited, or a court of competent jurisdiction or any government (or governmental authority) shall have issued an order, decree or ruling, or has taken any other action restraining, enjoining or otherwise prohibiting the consummation of such transactions and such order, decree, ruling or other action shall have become final and nonappealable.

  • Termination by the Company for Cause or by Executive Without Good Reason If Executive’s employment is terminated by the Company for Cause or by Executive without Good Reason, the Company shall pay Executive all amounts earned or accrued hereunder through the termination date, including:

  • Termination of Existing Agreement The Existing Agreement is hereby terminated and replaced and superseded by this Agreement, effective August 1, 2001. All payments, of Base Salary or otherwise, made by the Company under the Existing Agreement with respect to any period commencing on or after August 1, 2001 shall be credited against the corresponding payment obligations of the Company under this Agreement.

  • Termination by the Company for Cause; Termination by the Executive without Good Reason (a) For purposes of this Agreement, “

  • Early Termination and Breach of Agreement (a) The Corporation may terminate this Agreement with respect to all of the Units held (or previously held and Exchanged) by all Members at any time by paying to the Members the Early Termination Payment; provided, however, that this Agreement shall only terminate upon the receipt of the Early Termination Payment by all Members, and provided, further, that the Corporation may withdraw any notice to execute its termination rights under this Section 4.01(a) prior to the time at which any Early Termination Payment has been paid. Upon payment of the Early Termination Payments by the Corporation, neither the Members nor the Corporation shall have any further payment obligations under this Agreement, other than for any (a) Tax Benefit Payment agreed to by the Corporation and the Member as due and payable but unpaid as of the Early Termination Notice and (b) Tax Benefit Payment due for the Taxable Year ending with or including the date of the Early Termination Notice (except to the extent that the amount described in clause (b) is included in the Early Termination Payment). For the avoidance of doubt, if an Exchange occurs after the Corporation makes the Early Termination Payments with respect to all Members, the Corporation shall have no obligations under this Agreement with respect to such Exchange, and its only obligations under this Agreement in such case shall be its obligations to all Members under Section 4.03(a).

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