Common use of Early Termination for Financial Hardship Clause in Contracts

Early Termination for Financial Hardship. The Licensee may terminate this Agreement without penalty as of 31 December 2020 and subsequently every potential 31 December of the following Subscription Period if sufficient content acquisitions funds are not allocated to enable the Licensee and/or Participating Institutions, in the exercise of its reasonable administrative discretion, to continue this Agreement. In the event of such financial circumstances, the Licensee will notify the Distributor of the intent to terminate the Agreement at least 30 days before the end of the respective Subscription Period. The Agreement shall terminate on the last day of the respective Subscription Period without penalty of expense to the Licensee of any kind whatsoever, except as to the portions of payments herein agreed for which funds shall have been appropriated and budgeted or otherwise available. In the event of such termination of this Agreement, the Licensee and Participating Institutions shall maintain their perpetual right to the Licensed Materials under fully paid Subscription Periods, subject to Section 12.

Early Termination for Financial Hardship. The Licensee may terminate this Agreement without penalty as of 31 December 2020 and subsequently every potential 31 December of the following Subscription Period if sufficient content acquisitions funds are not allocated to enable the Licensee and/or Participating Institutions, in the exercise of its reasonable administrative discretion, to continue this Agreement. In the event of such financial circumstances, the Licensee will notify the Distributor of the intent to terminate the Agreement at least 30 days before the end of the respective Subscription Period. The Agreement shall terminate on the last day of the respective Subscription Period without penalty of expense to the Licensee of any kind whatsoever, except as to the portions of payments herein agreed for which funds shall have been appropriated and budgeted or otherwise available. In the event of such termination of this Agreement, the Licensee and Participating Institutions shall maintain their perpetual right (where applicable) to the Licensed Materials under fully paid Subscription Periods, subject to Section 12.

Early Termination for Financial Hardship. The Licensee may terminate this Agreement without penalty as of 31 December 2020 and subsequently every potential 31 December of the following Subscription Period if sufficient content acquisitions funds are not allocated to enable the Licensee and/or Participating Institutions, in the exercise of its reasonable administrative discretion, to continue this Agreement. In the event of such financial circumstances, the Licensee will notify the Distributor Licensor of the intent to terminate the Agreement at least 30 90 days before the end of the respective Subscription Period. The Agreement shall terminate on the last day of the respective Subscription Period without penalty of expense to the Licensee of any kind whatsoever, except as to the portions of payments herein agreed for which funds shall have been appropriated and budgeted or otherwise available. In the event of such termination of this Agreement, the Licensee and Participating Institutions shall maintain their perpetual right to the Licensed Materials under fully paid Subscription Periods, subject to Section 12.

Early Termination for Financial Hardship. The Licensee may terminate this Agreement without penalty as of 31 December 2020 and subsequently every potential 31 December of the following Subscription Period if sufficient content acquisitions funds are not allocated to enable the Licensee and/or the Participating Institutions, in the exercise of its reasonable administrative discretion, to continue this Agreement. In the event of such financial circumstances, the Licensee will notify the Distributor of the intent to terminate the Agreement at least 30 days before the end of the respective Subscription Period. The Agreement shall terminate on the last day of the respective Subscription Period without penalty of expense to the Licensee of any kind whatsoever, except as to the portions of payments herein agreed for which funds shall have been appropriated and budgeted or otherwise available. In the event of such termination of this Agreement, the Licensee and the Participating Institutions shall maintain their perpetual right (where applicable) to the Licensed Materials under fully paid Subscription Periods, subject to Section 12.