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Common use of Failure Clause in Contracts

Failure. Any material failure by Licensee to comply with the obligations set forth in this Article V shall be deemed to be a material breach for which Merck may exercise its termination rights under and in accordance with Article XII and any other available remedies at law or in equity.

Appears in 4 contracts

Samples: Exclusive Patent and Know How License Agreement (Cerecor Inc.), Exclusive Patent and Know How License Agreement (Cerecor Inc.), Exclusive Patent and Know How License Agreement (Cerecor Inc.)

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Failure. Any material failure by Licensee to comply with the obligations set forth in this Article V shall be deemed to be a material breach for which Merck may exercise its termination rights under and in accordance with Article XII and any other available remedies at law or in equity.

Appears in 2 contracts

Samples: License Agreement (TESARO, Inc.), License Agreement (TESARO, Inc.)

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