Common use of Termination and Breach Clause in Contracts

Termination and Breach. This License Agreement shall be terminated upon (a) the voluntary filing by MARKETING of a bankruptcy petition or an involuntary bankruptcy proceeding having been commenced and not stayed or terminated within 120 days of such commencement or (b) the termination of the Master Lease in accordance with its terms. REALTY shall have the right to terminate this License Agreement upon the determination that a Material Non-Monetary Default has occurred, as provided in this Paragraph 13, and such Material Non-Monetary Default has not been cured by MARKETING within one year of such determination or within thirty (30) days of such determination if the breach giving rise to such Material Non-Monetary Default is the commingling of Branded Gasoline as described in Section 1 of Schedule B attached hereto. REALTY’s only remedy with respect to breaches by MARKETING other than Material Non-Monetary Defaults shall be to seek damages or injunctive relief. In the event of any breach or threatened breach of this License Agreement or a claimed Material Non-Monetary Default, notice shall be given and the parties shall promptly consult in good faith to cure such breach, with the party at fault being given an adequate period of time to remedy the matter. If such breach or claimed Material Non-Monetary Default is not cured within sixty (60) days of the notice, the matter may be submitted to arbitration in accordance with Paragraph 15 below, which may include a determination whether a material breach or Material Non-Monetary Default, as the case may be, has occurred and/or been cured. In the event the arbitrator determines that a material breach has occurred, the arbitrator shall not be authorized to terminate this License Agreement but shall be authorized to issue any other order or award any other relief deemed appropriate, including, without limitation, injunctive relief.

Termination and Breach. This License Agreement shall be terminated upon (a) the voluntary filing by MARKETING of a bankruptcy petition or an involuntary bankruptcy proceeding having been commenced and not stayed or terminated within 120 days of such commencement or (b) the termination of the Master Lease in accordance with its terms. REALTY TM shall have the right to terminate this License Agreement upon (a) a Material Monetary Default or (b) the determination that a Material Non-Monetary Default has occurred, as provided in this Paragraph 13, and such Material Non-Monetary Default has not been cured by MARKETING within one year of such determination or within thirty (30) days of such determination if the breach giving rise to such Material Non-Monetary Default is the constitutes commingling of Branded Gasoline as described in Section 1 of Schedule B attached hereto. REALTYTM’s only remedy with respect to breaches by MARKETING other than Material Monetary Defaults and Material Non-Monetary Defaults shall be to seek damages or injunctive relief. In the event of any breach or threatened breach of this License Agreement or a claimed Material Non-Monetary Default, notice shall be given and the parties shall promptly consult in good faith to cure such breach, with the party at fault being given an adequate period of time to remedy the matter. If such breach or claimed Material Non-Monetary Default is not cured within sixty (60) days of the notice, the matter may be submitted to arbitration in accordance with Paragraph 15 below, which may include a determination whether a material breach or Material Non-Monetary Default, as the case may be, has occurred and/or been cured. In the event the arbitrator determines that a material breach has occurred, the arbitrator shall not be authorized to terminate this License Agreement but shall be authorized to issue any other order or award any other relief deemed appropriate, including, without limitation, injunctive relief.

Termination and Breach. This License Agreement shall be terminated upon (terminated: a) in the voluntary filing event of any affirmative act of insolvency by MARKETING of a bankruptcy petition MARKETING; or an involuntary bankruptcy proceeding having been commenced and not stayed or terminated within 120 days of such commencement or (b) upon the termination appointment of any receiver or trustee to take possession of the Master Lease in accordance with its termsproperties of MARKETING. REALTY shall have the right to terminate this License Agreement either a) upon the determination that a Material Non-Monetary Default has occurred, as provided in this Paragraph 13, and such Material Non-Monetary Default has not been cured material default by MARKETING under the Master Lease which is not cured within one year of such determination the cure periods specified therein; or within thirty (30b) days of such determination if the breach giving rise to such Material Non-Monetary Default is the commingling of Branded Gasoline as described in Section 1 of Schedule B attached hereto. REALTY’s only remedy upon a material default by MARKETING with respect to breaches by MARKETING other than Material Non-Monetary Defaults shall be to seek damages or injunctive reliefits obligations under the Reorganization and Distribution Agreement between the parties of even date which is not Rcured within the cure periods specified therein. In the event of any other breach or threatened breach of this License Agreement or a claimed Material Non-Monetary DefaultAgreement, notice shall be given and the parties shall promptly consult in good faith to cure such breach, with the party at fault being given an adequate period of time to remedy the matter. If such breach or claimed Material Non-Monetary Default is not cured within sixty (60) days of the notice, the matter may be submitted to arbitration in accordance with Paragraph 15 paragraph 16 below, which may include a determination whether a material breach or Material Non-Monetary Default, as the case may be, has occurred and/or been cured. In the event the arbitrator determines that a material breach has occurred, the arbitrator shall not be authorized to terminate this License Agreement (except in the case of a material breach by MARKETING which creates a substantial likelihood of loss of rights in the Licensed Marks) but shall be authorized to issue any other order or award any other relief deemed appropriate, including, without limitation, injunctive relief. In the event of a material breach by MARKETING which creates a substantial likelihood of loss of rights in the Licensed Marks, the arbitrator shall be authorized to issue any order awarding any relief deemed appropriate, including, without limitation, injunctive relief, and further providing that in the event MARKETING fails to comply with the relief ordered within a specified period of time, the license shall be terminated.

Termination and Breach. This License Agreement shall be terminated upon (terminated: a) in the voluntary filing event of any affirmative act of insolvency by MARKETING of a bankruptcy petition MARKETING; or an involuntary bankruptcy proceeding having been commenced and not stayed or terminated within 120 days of such commencement or (b) upon the termination appointment of any receiver or trustee to take possession of the Master Lease in accordance with its termsproperties of MARKETING. REALTY shall have the right to terminate this License Agreement either a) upon the determination that a Material Non-Monetary Default has occurred, as provided in this Paragraph 13, and such Material Non-Monetary Default has not been cured material default by MARKETING under the Master Lease which is not cured within one year of such determination the cure periods specified therein; or within thirty (30b) days of such determination if the breach giving rise to such Material Non-Monetary Default is the commingling of Branded Gasoline as described in Section 1 of Schedule B attached hereto. REALTY’s only remedy upon a material default by MARKETING with respect to breaches by MARKETING other than Material Non-Monetary Defaults shall be to seek damages or injunctive reliefits obligations under the Reorganization and Distribution Agreement between the parties of even date which is not cured within the cure periods specified therein. In the event of any other breach or threatened breach of this License Agreement or a claimed Material Non-Monetary DefaultAgreement, notice shall be given and the parties shall promptly consult in good faith to cure such breach, with the party at fault being given an adequate period of time to remedy the matter. If such breach or claimed Material Non-Monetary Default is not cured within sixty (60) days of the notice, the matter may be submitted to arbitration in accordance with Paragraph 15 paragraph 16 below, which may include a determination whether a material breach or Material Non-Monetary Default, as the case may be, has occurred and/or been cured. In the event the arbitrator determines that a material breach has occurred, the arbitrator shall not be authorized to terminate this License Agreement (except in the case of a material breach by MARKETING which creates a substantial likelihood of loss of rights in the Licensed Marks) but shall be authorized to issue any other order or award any other relief deemed appropriate, including, without limitation, injunctive relief. In the event of a material breach by MARKETING which creates a substantial likelihood of loss of rights in the Licensed Marks, the arbitrator shall be authorized to issue any order awarding any relief deemed appropriate, including, without limitation, injunctive relief, and further providing that in the event MARKETING fails to comply with the relief ordered within a specified period of time, the license shall be terminated.