Common use of TERM OF VALIDITY OF THE AGREEMENT Clause in Contracts

TERM OF VALIDITY OF THE AGREEMENT. 5.1. The Agreement is concluded for 5 (five) years and enters into force when signed by both Parties. 5.2. The Parties shall have the right to terminate the Agreement before its expiry upon a written agreement between the Parties. 5.3. If any Party violates any provision of the Agreement and such a violation is not rectified within 30 (thirty) working days of receiving a written notice of the other Party, or if the violation reoccurs, the other Party may terminate the Agreement unilaterally. The terminating Party must notify the violating Party why and when the Agreement is being terminated. The notice, which shall include the grounds for termination and the date of termination, shall be sent by the other Party to the Party violating the Agreement not later than 30 (thirty) days before the date of termination. 5.4. The Licensor shall have the right to terminate the Agreement unilaterally also in case, if: 5.4.1. the Licensee does not pay the initial, fixed payment within the set deadline; 5.4.2. if insolvency proceedings or legal protection proceedings (out-of-court legal protection) of the Licensee are initiated in the court; 5.4.3. if the Know-how is sub-licenced, in breach of Paragraph 2.1. of the Agreement; 5.4.4. the Licensee has violated the provisions regarding Confidential Information or trade secret.

TERM OF VALIDITY OF THE AGREEMENT. 5.1. The Agreement is concluded for 5 (five) years and enters into force when signed by both Parties. 5.2. The Parties shall have the right to terminate the Agreement before its expiry upon a written agreement between the Parties. 5.3. If any Party violates any provision of the Agreement and such a violation is not rectified within 30 (thirty) working days of receiving a written notice of the other Party, or if the violation reoccurs, the other Party may terminate the Agreement unilaterally. The terminating Party must notify the violating Party why and when the Agreement is being terminated. The notice, which shall include the grounds for termination and the date of termination, shall be sent by the other Party to the Party violating the Agreement not later than 30 (thirty) days before the date of termination. 5.4. The Licensor shall have the right to terminate the Agreement unilaterally also in case, if: 5.4.1. the Licensee does not pay the initial, fixed payment within the set deadline; 5.4.2. if insolvency proceedings or legal protection proceedings (out-of-court legal protection) of the Licensee are initiated in the court; 5.4.3. if the Know-how is sub-licenced, in breach of Paragraph 2.1. Licensee transfers the Object or certain elements thereof to third parties without the prior written consent of the AgreementLicensor or sublicenses the Object without the prior written consent of the Licensor; 5.4.4. the Licensee has violated the provisions regarding Confidential Information or trade secret.

TERM OF VALIDITY OF THE AGREEMENT. 5.1. The Agreement is concluded for 5 (five) years and enters into force when signed by both Parties. 5.2. The Parties shall have the right to terminate the Agreement before its expiry upon a written agreement between the Parties. 5.3. If any Party violates any provision of the Agreement and such a violation is not rectified within 30 (thirty) working days of receiving a written notice of the other Party, or if the violation reoccurs, the other Party may terminate the Agreement unilaterally. The terminating Party must notify the violating Party why and when the Agreement is being terminated. The notice, which shall include the grounds for termination and the date of termination, shall be sent by the other Party to the Party violating the Agreement not later than 30 (thirty) days before the date of termination. 5.4. The Licensor shall have the right to terminate the Agreement unilaterally also in case, if: 5.4.1. the Licensee does not pay the initial, fixed payment within the set deadline; 5.4.2. if insolvency proceedings or legal protection proceedings (out-of-court legal protection) of the Licensee are initiated in the court; 5.4.3. if the Know-how Object is sub-licenced, in breach of Paragraph 2.1. of the Agreement; 5.4.4. the Licensee has violated the provisions regarding Confidential Information or trade secret.

TERM OF VALIDITY OF THE AGREEMENT. 5.1. The Agreement is concluded for 5 (five) years and enters into force when signed by both Parties. 5.2. The Parties shall have the right to terminate the Agreement before its expiry upon a written agreement between the Parties. 5.3. If any Party violates any provision of the Agreement and such a violation is not rectified within 30 (thirty) working days of receiving a written notice of the other Party, or if the violation reoccurs, the other Party may terminate the Agreement unilaterally. The terminating Party must notify the violating Party why and when the Agreement is being terminated. The notice, which shall include the grounds for termination and the date of termination, shall be sent by the other Party to the Party violating the Agreement not later than 30 (thirty) days before the date of termination. 5.4. The Licensor shall have the right to terminate the Agreement unilaterally also in case, if: 5.4.1. the Licensee does not pay the initial, fixed payment within the set deadline; 5.4.2. if insolvency proceedings or legal protection proceedings (out-of-court legal protection) of the Licensee are initiated in the court; 5.4.3. if the Licensee transfers the Know-how is sub-licenced, in breach of Paragraph 2.1. or certain elements thereof to third parties without the prior written consent of the AgreementLicensor or sublicenses the Know-how without the prior written consent of the Licensor; 5.4.4. the Licensee has violated the provisions regarding Confidential Information or trade secret.