Term & Termination by Licensor. The term of this License shall be for an initial term of 5 years, renewable by the mutual consent of the parties for a similar term, in perpetuity upon the expiration of the immediately preceding term, subject however, to the right of the Licensor to terminate this License in the event that bankruptcy or insolvency proceedings are, at any point in time, filed or instituted by the Licensee or threatened against the Licensee, or the Licensee is dissolved or liquidated, or otherwise ceases to exist.
Appears in 7 contracts
Samples: Intellectual Property License Agreement, Intellectual Property License Agreement, Intellectual Property License Agreement
