Common use of No Cure Period Clause in Contracts

No Cure Period. In addition to any other termination rights which -------------- Licensor has under this Agreement, Licensor shall have the right to terminate this License Agreement by giving written notice to Licensee, if Licensee (i) manufactures, sells, distributes, advertises, or promotes any Licensed Products without having obtained all required approvals of Licensor as provided herein; (ii) asserts any ownership or proprietary interest in the Trademarks, or contests Licensor's ownership rights therein; (iii) breaches any of the provisions of this Agreement prohibiting Licensee from assigning, transferring or sublicensing this Agreement or any of its rights or obligations hereunder; (iv) or any guarantor of Licensee's obligations hereunder files a voluntary petition under the Federal Bankruptcy Code, or is subject to the filing of an involuntary petition under the Federal Bankruptcy Code which is not dismissed within thirty (30) days, or is declared insolvent, or makes an assignment for the benefit of creditors, or dissolves, is liquidated or otherwise discontinues its business, or suffers a custodian, trustee or receiver to be appointed for it or for it's business, which is not released or discharged within thirty (30) days, or if substantially all of its assets or Licensee's interest in this Agreement is subjected to any writ of attachment, execution, garnishment or other legal process which is not released within thirty (30) days; (v) fails to begin distributing substantial quantities of Licensed Products by the Initial Marketing Date set forth in the Basic Provisions; or (vi) sells or distributes any Licensed Products outside of the Territory or outside of the approved distribution channels set forth in the Basic Provisions.

No Cure Period. In addition to any other termination rights which -------------- Licensor has under this Agreement, Licensor shall have the right to terminate this License Agreement by giving written notice to Licensee, if Licensee (i) manufactures, sells, distributes, advertises, or promotes any Licensed Products without having obtained all required approvals of Licensor as provided herein; (ii) asserts any ownership or proprietary interest in the Trademarks, or contests Licensor's ownership rights therein; (iii) breaches any of the provisions of this Agreement prohibiting Licensee from assigning, transferring or sublicensing this Agreement or any of its rights or obligations hereunder; (iv) or any guarantor of Licensee's obligations hereunder files a voluntary petition under the Federal Bankruptcy Code, or is subject to the filing of an involuntary petition under the Federal Bankruptcy Code which is not dismissed within thirty (30) days, or is declared insolvent, or makes an assignment for the benefit of creditors, or dissolves, is liquidated or otherwise discontinues its business, or suffers a custodian, trustee or receiver to be appointed for it or for it's business, which is not released or discharged within thirty (30) days, or if substantially all of its assets or Licensee's interest in this Agreement is subjected to any writ of attachment, execution, garnishment or other legal process which is not released within thirty (30) days; (v) fails to begin distributing substantial quantities of Licensed Products by the Initial Marketing Date set forth in the Basic Provisions; or (vi) sells or distributes any Licensed Products outside of the Territory or outside of the approved distribution channels set forth in the Basic Provisions.