Expiration of Obligations. The non-competition and non-solicitation covenants contained in this Article IX shall terminate and be of no further force and effect after the tenth anniversary of the Separation Date, provided that such covenants may be terminated immediately by either Party upon written notice in the event that an Insolvency Event occurs with respect to the other Party. However, in the event that either HXXX or HBIO abandons any particular product or products, it shall so notify the other Party in writing within sixty (60) days thereof, at which time the non-competition covenants of this Article IX shall expire, terminate and be of no further force and effect with respect to such abandon product or products. For purposes of this Agreement, a Party will be deemed to have abandoned a product or products if it is no longer actively involved in developing, marketing, selling or distributing such product or products.
Appears in 5 contracts
Samples: Intellectual Property Matters Agreement (Harvard Bioscience Inc), Intellectual Property Matters Agreement (Harvard Apparatus Regenerative Technology, Inc.), Intellectual Property Matters Agreement (Harvard Apparatus Regenerative Technology, Inc.)
