Ownership Termination Sample Clauses

Ownership Termination. This Agreement shall terminate on the date that LICENSOR ceases to maintain an undiluted thirty percent (30%) ownership share of LICENSEE, provided such dilution was the direct result of some act or event caused by LICENSEE, Company A, or Company C as defined in the Joint Venture Agreement of even date. Furthermore, notwithstanding any provision contrary hereto, in the event that any obligations are owing by LICENSOR to Company A pursuant to a loan made or to be made by Company A to LICENSOR (the “Loan”), at Company A’s option, This Agreement shall not terminate and shall remain in full force and effect for so long as the Loan remains outstanding.