Examples of Material Breach Sample Clauses
Examples of Material Breach. For purposes of this Article, any substantial noncompliance, or any repeated noncompliance, each of which might be considered minor or singular, may when considered in the aggregate constitute a Material Breach. In illustration, but without limitation, failure to give required notices, or failure to give required approvals without cause, or failure to comply with final decisions under the Dispute Resolution provisions of Article 25, may constitute a Material Breach.
Examples of Material Breach. Either party may terminate this Agreement upon the occurrence of any of the following:
(a) the filing by or against the other party hereto of a petition in bankruptcy or judicial or administrative declaration of insolvency, the dissolution, liquidation, or re-organization of, and the loss of clearinghouse privileges by, one party as circumstances justifying termination of the Licensing and Sales Agreement by the other party, by giving notice to the latter party of
(b) if NSK causes or allows a judgment to be entered against it or causes or allows a lien, security interest or other encumbrance to be place upon its assets or the assets of NSI;
(c) if NSK undergoes a substantial change in ownership or control. Upon any of the foregoing events, such termination shall be immediately effective.
(d) if either party violates a term, condition, covenant, warranty or promise under this Agreement.