EFFECT OF TERMINATION FOR DEFAULT OF EITHER PARTY Sample Clauses

EFFECT OF TERMINATION FOR DEFAULT OF EITHER PARTY. Upon expiration or termination of this Agreement for the Default of either party, or for any reason (including expiration under Section 6.0) other than the insolvency, bankruptcy, reorganization of INSTITUTE or its authorized successors or assigns, or the termination, cessation, or inability or failure to maintain the Mapping Technology or that portion of the business associated with the Mapping Technology during the Term of the Agreement, by INSTITUTE or its authorized successors or assigns: a. TIC shall, within five (5) business days thereof, return or, at INSTITUTE's option, destroy all whole or partial copies of the INSTITUTE Rights in TIC's possession, custody or control, and certify to INSTITUTE in writing within five (5) business days thereafter that it has complied with the foregoing obligation; b. Each party shall return all copies of Confidential Information disclosed by the other party which remain in its possession or under its control; c. Termination shall not affect the rights of TIC Clients to continue to use the Mapping Technology acquired from TIC in accordance with the terms of this Agreement; d. Termination shall not affect TIC's obligation to pay to INSTITUTE all amounts due as of the effective date of Termination and shall not affect INSTITUTE's obligation to refund to TIC any amounts paid by TIC attributable to any period of time after the effective date of termination; and, e. Except in the case of termination of this Agreement for the Default of TIC, TIC shall have the continued right to exercise the rights and licenses granted in Section 2 in connection with the Mapping Technology as in existence as of the date of expiration or termination (and any subsequent improvements or Derivatives thereof), by TIC after such expiration or termination, and provided that TIC's rights under Section 2.a shall no longer be exclusive.
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EFFECT OF TERMINATION FOR DEFAULT OF EITHER PARTY. Upon expiration or termination of this Agreement for the Default of either party, or for any reason (including expiration under Section 7.0) other than the insolvency, bankruptcy, reorganization of Dragon or its authorized successors or assigns, or the termination, cessation, or inability or failure to maintain the Dragon Technology or that portion of the business associated with the Dragon Technology during the Term of the Agreement, by Dragon or its authorized successors or assigns: a. ASI shall, within five (5) business days thereof, return or, at Dragon's option, destroy all whole or partial copies of the Dragon Rights in ASI's possession, custody or control, and certify to Dragon in writing within five (5) business days thereafter that it has complied with the foregoing obligation; b. Each party shall return all copies of Confidential Information disclosed by the other party which remain in its possession or under its control; c. Termination shall not affect the rights of ASI Clients and ASI Distributors to continue to use the Dragon Technology acquired from ASI in accordance with the terms of this Agreement;
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Related to EFFECT OF TERMINATION FOR DEFAULT OF EITHER PARTY

  • Termination for Default; Remedies 8.2.1 Each of the following shall constitute an immediate event of default (“Event of Default”) under this Agreement: (a) Contractor fails or refuses to perform or observe any term, covenant or condition contained in any of the following Sections of this Agreement:

  • Termination for Default The Commonwealth may terminate this Agreement by notice where it reasonably believes the Grantee: (a) has breached this Agreement; or (b) has provided false or misleading statements in their application for the Grant; or (c) has become bankrupt or insolvent, entered into a scheme of arrangement with creditors, or come under any form of external administration.

  • Result of Termination Upon termination of Executive’s employment pursuant to this Section, Employer shall pay to Executive’s estate, on the Termination Date, a lump sum payment of an amount equal to (i) all accrued and unused vacation and sick pay payable to Executive by Employer with respect to serviced rendered by Executive to Employer through the Termination Date; and, (ii) if the Termination Date occurs during the Extended Term, an amount equal to twelve (12) months salary based upon the then existing salary of Executive, payable in the same manner as salary would have been paid to Executive had he continued to work for Employer hereunder. In addition to the foregoing, and notwithstanding the provisions of any other agreement to the contrary, Employer shall continue to provide for the benefit of Executive’s family the medical benefits for twelve (12) months following the Termination Date

  • SUSPENSION & TERMINATION FOR DEFAULT Enterprise Services may suspend Contractor’s operations under this Master Contract immediately by written cure notice of any default. Suspension shall continue until the default is remedied to Enterprise Services’ reasonable satisfaction; Provided, however, that, if after thirty (30) days from such a suspension notice, Contractor remains in default, Enterprise Services may terminate Contractor’s rights under this Master Contract. All of Contractor’s obligations to Enterprise Services and Purchasers survive termination of Contractor’s rights under this Master Contract, until such obligations have been fulfilled.

  • Notice of Termination; Effect of Termination Any termination of this Agreement under Section 7.1 above will be effective immediately upon the delivery of written notice of the terminating party to the other parties hereto. In the event of the termination of this Agreement as provided in Section 7.1, this Agreement shall be of no further force or effect, except (i) as set forth in this Section 7.2, Section 7.3 and Article 8 (miscellaneous), each of which shall survive the termination of this Agreement, and (ii) nothing herein shall relieve any party from liability for any willful breach of this Agreement. No termination of this Agreement shall affect the obligations of the parties contained in the Confidentiality Agreement, all of which obligations shall survive termination of this Agreement in accordance with their terms.

  • 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.

  • Effect of Termination Notice Where Network Rail or the Train Operator has served a Termination Notice on the other: (a) the service of the Termination Notice shall not affect the parties’ continuing obligations under this contract up to the date of termination, which date shall be determined in accordance with paragraph 3.4(c); (b) the party which has served the Termination Notice shall withdraw it by notice to the other party, upon being reasonably satisfied that the relevant Event of Default has been remedied; and (c) this contract shall terminate on the later of: (i) the date and time specified in the Termination Notice for the contract to terminate (or such later date and time as the party which served the Termination Notice notifies to the other before the date and time so specified); and (ii) the date on which a copy of the Termination Notice is given to XXX.

  • Erroneous Termination for Default If, after notice of termination of Vendor’s right to proceed under the provisions of this clause, it is determined for any reason that the contract was not in default, or that the delay was excusable under the provisions of the prior paragraph (Excuse for Nonperformance or Delayed Performance), the rights and obligations of the parties shall be the same as if the notice of termination had been one of termination for convenience.

  • Termination of Default An Event of Default shall be deemed to have been terminated upon the earliest to occur of: 13.7.1. The date the Representative and the Company enter into a settlement of all claims; or 13.7.2. If an Acceleration has not been authorized by the Holders, the date the Company has paid (i) to the Holders, all payments due through such date; and (ii) to the Representative, all the fees and expenses described in section 12.3.2(f); or 13.7.3. If an Acceleration has been authorized by the Holders, the date the Company has paid (i) to the Holders all payments due through such date; and (ii) to the Representative, all the expenses described in section 12.3.2(f); but only if a Majority agrees to annul the demand for Acceleration.

  • Effect of Termination for Cause In the event the Executive’s employment shall be terminated for Cause pursuant to Section 5.1 hereof, the Company shall pay the Executive his salary through the date of termination.

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