Common use of Other Conditions of Termination Clause in Contracts

Other Conditions of Termination. This Agreement will earlier terminate: a. Immediately without the necessity of any action being taken by Board or Licensee, if Licensee becomes bankrupt or Insolvent and/or if the business of Licensee is placed in the hands of a receiver, assignee, or trustee, whether by voluntary act of Licensee or otherwise; or b. at any time by mutual written agreement between Licensee and Board and subject to any terms herein which survive termination.

Other Conditions of Termination. This Agreement will earlier shall terminate: a. Immediately : (a) immediately without the necessity of any action being taken by Board Licensor or Licensee, (i) if Licensee becomes bankrupt or Insolvent and/or if the insolvent, (ii) Licensee elects to liquidate its assets or dissolve its business, (iii) Licensee ceases its business of Licensee is placed operations in the hands of a receiver, assignee, or trustee, whether by voluntary act of Licensee or otherwise; or b. at any time by mutual written agreement between Licensee and Board and subject to any terms herein which survive terminationordinary course.