EARLY TERMINATION BY A MEMBER. The performance of a Member of their obligations under the License Agreement shall be subject to and contingent upon the availability of funds provided, allocated, or allotted in institutional budgets for the purpose of the License Agreement for the current and future license term. Any Member may, at its option, provide notice to the Licensor and Licensee, by [DATE] of each applicable calendar year within the License Agreement, of the non-availability of such funds and the intent to terminate their participation in the License Agreement beginning on January 1st of the forthcoming year. If a Member executes this option, no refund of payments already received by the Licensor will be owed to the Member. The determination of whether funds are available shall be made in the sole discretion of the applicable Member. The termination of participation by any Member will not constitute a default or a termination of participation of any other Members under the License Agreement and shall not be grounds for any increase in fees payable by other Members. Upon termination, a Member has the ability to execute their rights under clause 10.5.3 [Continued Access to Licensed Materials].
EARLY TERMINATION BY A MEMBER. The performance of a Member of their obligations under the License Agreement shall be subject to and contingent upon the availability of funds provided, allocated, or allotted in institutional budgets for the purpose of the License Agreement for the current and future license term. Any Member may, at its option, provide notice to the Licensor and Licensee, by October 1st of each applicable calendar year within the License Agreement, of the non-availability of such funds and the intent to terminate their participation in the License Agreement beginning on January 1st of the forthcoming year. In the case of early termination under this clause, the Licensee’s Members will continue to receive new content until the end of the period for which Licensee has paid in full. If a Member executes this option, no refund of payments already received by the Licensor will be owed to the Member. The determination of whether funds are available shall be made in the sole discretion of the applicable Member. The termination of participation by any Member will not constitute a default or a termination of participation of any other Members under the License Agreement and shall not be grounds for any increase in fees payable by other Members. Upon termination, a Member has the ability to execute their rights under clause
EARLY TERMINATION BY A MEMBER handles the situation where a Member cancels a product in a single year or multi-year term license. The termination by one Member will not result in a penalty to the Member or the Consortium deal and should not result in higher fees for the other Members remaining in a deal.
EARLY TERMINATION BY A MEMBER. The performance of a Member of their obligations under this Agreement shall be subject to and contingent upon the availability of funds provided, allocated, or allotted in institutional budgets for the purpose of this Agreement for the current and future license term. Any Member may, at its option, provide notice to the Publisher and the Consortium, by October 1st of each applicable calendar year within this Agreement, of the non-availability of such funds and the intent to terminate their participation in this Agreement beginning on January 1st of the forthcoming year. If a Member executes this option, no refund of payments already received by the Publisher will be owed to the Member. The determination of whether funds are available shall be made in the sole discretion of the applicable Member. The termination of participation by any Member will not constitute a default or a termination of participation of any other Members under this Agreement. Upon termination, a Member has the ability to execute their rights under clause 10.5.3 [Continued Access to Licensed Materials].
EARLY TERMINATION BY A MEMBER. The performance of a Member of its obligations under the Agreement shall be subject to and contingent upon the availability of funds provided, allocated, or allotted in institutional budgets for the purpose of the Agreement for the current and future license term. If a Member executes this option in a single year or multi-year agreement, no refund of payments already received by Licensor will be owed to the Consortium or Member. The determination of whether funds are available shall be made in the sole discretion of the applicable Member. The termination of participation by any Member will not constitute a default or a termination of participation of any other Member under the Agreement and shall not be grounds for any increase in fees payable by other Members. Upon termination, a Member has the ability to exercise its rights under 2.2 [Perpetual Rights].
