Common use of Effect of Material Breach by the Company Clause in Contracts

Effect of Material Breach by the Company. If the Company materially breaches this Agreement and fails to correct such default within sixty (60) days after written notice of such default is provided to the Company by MCD, MCD shall have the right, at its sole option, to terminate this Agreement and the Company shall be entitled to all rights in and to the Specifications and all Intellectual Property therein, designed and paid for to date, and the continuing right to the license granted to the Company in Section 4 (a) relating to the MCD Technology.

Effect of Material Breach by the Company. If the Company materially breaches this Agreement and fails to correct such default within sixty (60) days after written notice of such default is provided to the Company by MCDMCD or Consultant, MCD and Consultant each shall have the right, at its sole option, right to terminate this Agreement and no party to this Agreement shall have any further obligation hereunder except that the Company shall be entitled to all rights in and to must pay any payments due as of the Specifications and all Intellectual Property therein, designed and paid for to date, and the continuing right to the license granted to the Company in Section 4 (a) relating to the MCD Technologydate of such termination.

Effect of Material Breach by the Company. If the Company materially breaches this Agreement and fails to correct such default within sixty (60) days after written notice of such default is if provided to the Company by MCD, MCD shall have the right, at its sole option, to terminate this Agreement and the Company shall be entitled to all rights in and to the Specifications Specifications, the Engines, all molds, tooling, dies, casts and all Intellectual Property therein, designed and paid for developed to date, and the continuing right to the license granted to the Company in Section 4 (a4(a) relating to the MCD Technology.

Effect of Material Breach by the Company. If the Company materially breaches this Agreement before completing its final one off payment, and fails to correct such default within sixty thirty (6030) days after written notice of such default is provided to the Company by MCD, MCD shall have the right, at its sole option, right to terminate this Agreement and the Company MCD shall be entitled to all rights in and to the Specifications Specifications, the Engines, prototypes, all molds, tooling, dies, and all Intellectual Property therein, designed and paid for to date, and the continuing right to the license granted to the Company listed in Section 4 (a) relating to the MCD TechnologyExhibit 1.