Common use of EFFECT OF TERMINATION FOR DEFAULT OF EITHER PARTY Clause in Contracts

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.

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 the 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 AgreementLicense Term, by the INSTITUTE or its authorized successors or assigns: a. TIC shall, within five (5) business days thereof, return or, at the INSTITUTE's ’s option, destroy all whole or partial copies of the INSTITUTE Rights in TIC's ’s possession, custody or control, and certify to the 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 ’s obligation to pay to the INSTITUTE all amounts due as of the effective date of Termination termination of this Agreement and shall not affect the INSTITUTE's ’s obligation to refund to TIC any amounts paid by TIC attributable to any period of time after the effective date of terminationtermination of this Agreement; 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 ’s rights under Section 2.a shall no longer be exclusive.

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 6.07.0) other than the insolvency, bankruptcy, reorganization of INSTITUTE Sarcor or its authorized successors or assigns, or the termination, cessation, or inability or failure to maintain the Mapping Sarcor Technology or that portion of the business associated with the Mapping Sarcor Technology during the Term of the Agreement, by INSTITUTE Sarcor or its authorized successors or assigns: a. TIC ATR shall, within five (5) business days thereof, return or, at INSTITUTESarcor's option, destroy all whole or partial copies of the INSTITUTE Sarcor Rights in TICATR's possession, custody or control, and certify to INSTITUTE Sarcor 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 party, which remain in its possession or under its control; c. Termination shall not affect the rights of TIC ATR Clients and ATR Distributors to continue to use the Mapping Sarcor Technology acquired from TIC ATR in accordance with the terms of this Agreement; d. Termination shall not affect TICATR's obligation to pay to INSTITUTE Sarcor all amounts due pursuant to the license as of the effective date of Termination and shall not affect INSTITUTESarcor's obligation to refund to TIC ATR any amounts paid by TIC ATR 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 TICATR, TIC ATR shall have the continued right to exercise the rights and licenses granted in Section 2 in connection with the Mapping Sarcor Technology as in existence as of the date of expiration or termination (and not including any subsequent improvements or Derivatives thereof), subject to the continued payment of license fees under Section 8.0 with respect to any distribution of the Compiler Engine, if any, by TIC ATR after such expiration or termination, and provided that TICATR's rights under Section 2.a shall no longer be exclusive.