Common use of RIGHTS AND OBLIGATIONS UPON EXPIRATION OR TERMINATION Clause in Contracts

RIGHTS AND OBLIGATIONS UPON EXPIRATION OR TERMINATION. Expiration and termination of this Agreement for any reason shall be without prejudice to either Party’s rights under this Agreement, to seek damages or injunctive relief for any breach of this Agreement by the other Party hereto and its right to receive payments accrued and unpaid on the effective date of termination or expiration. The following provisions of this Agreement shall survive expiration or termination hereof: Article 1, Section 3.7, Section 10.3, Section 12.13.2, Article 13, Article 17, Sections 18.1.2, 18.2, 18.3 and 18.4, Sections 19.2 and 19.16. In addition to the foregoing (i) any provisions of this Agreement which by their nature are intended to create rights or obligations after termination of the Agreement shall survive termination, (ii) rights of ownership or use of any tangible or intangible assets that vest prior to or upon the effective date of the termination of this Agreement shall continue to produce their effects after termination, and (iii) termination shall not limit the rights of a Party to bring any Claims that such Party may have against another Party or its Affiliates arising from or related to the performance by the other Party of its obligations under this Agreement prior to the effective date of the termination. For the avoidance of doubt, no termination of this Agreement, in whole or in part, shall be final or binding unless and until the procedures provided for in this Article 15 have been completed and a final notice of termination (if required) has been transmitted to the Party on which such termination is binding.

Appears in 2 contracts

Samples: License and Collaboration Agreement (Zealand Pharma a/S), License and Collaboration Agreement (Zealand Pharma a/S)

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RIGHTS AND OBLIGATIONS UPON EXPIRATION OR TERMINATION. Expiration and termination of this Agreement for any reason shall be without prejudice to either Party’s rights under this Agreement, to seek damages or injunctive relief for any breach of this Agreement by the other Party hereto and its right to receive payments accrued and unpaid on the effective date of termination or expiration. The following provisions of this Agreement shall survive expiration or termination hereof: Article 1, Section 3.7, Section 10.3, Section 12.13.2, Article 13, Article 17, Sections 18.1.2, 18.2, 18.3 and 18.4, Sections 19.2 and 19.16. In addition to the foregoing (i) any provisions of this Agreement which by their nature are intended to create rights or obligations after termination of the Agreement shall survive termination, (ii) rights of ownership or use of any tangible or intangible assets that vest prior to or upon the effective date of the termination of this Agreement shall continue to produce their effects after termination, and (iii) termination shall not limit the rights of a Party to bring any Claims that such Party may have against another Party or its Affiliates arising from or related to the performance by the other Party of its obligations under this Agreement prior to the effective date of the termination. For the avoidance of doubt, no termination of this Agreement, in whole or in part, shall be final or binding unless and until the procedures provided for [***] Certain information in this Article 15 have been completed and a final notice of termination (if required) document has been transmitted omitted and submitted separately to the Party on which such termination is bindingSecurities and Exchange Commission. Confidential treatment has been requested separately with respect to the omitted portions.

Appears in 1 contract

Samples: License and Collaboration Agreement (Zealand Pharma a/S)

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RIGHTS AND OBLIGATIONS UPON EXPIRATION OR TERMINATION. Expiration and termination of this Agreement for any reason shall be without prejudice to either Party’s rights under this Agreement, to seek damages or injunctive relief for any breach of this Agreement by the other Party hereto and its right to receive payments accrued and unpaid on the effective date of termination or expiration. The following provisions of this Agreement shall survive expiration or termination hereof: Article 1, Section 3.7, Section 10.3, Section 12.13.2, Article 13, Article 17, Sections 18.1.2, 18.2, 18.3 and 18.4, Sections 19.2 and 19.16. In addition to the foregoing (i) any provisions of this Agreement which by their nature are intended to create rights or obligations after termination of the Agreement shall survive termination, (ii) rights of ownership or use of any tangible or intangible assets that vest prior to or upon the effective date of the termination of this Agreement shall continue to produce their effects after termination, and (iii) termination shall not limit the rights of a Party to bring any Claims that such Party may have against another Party or its Affiliates arising from or related to the performance by the other Party of its obligations under this Agreement prior to the effective date of the termination. For the avoidance of doubt, no termination of this Agreement, in whole or in part, shall be final or binding unless and until the procedures provided for in this Article 15 have been completed and a final notice of termination (if required) has been transmitted to the Party on which such termination is binding.

Appears in 1 contract

Samples: License and Collaboration Agreement (Zealand Pharma a/S)

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