Termination by BNYM Sample Clauses
The 'Termination by BNYM' clause grants The Bank of New York Mellon (BNYM) the right to end the agreement under specified circumstances. Typically, this clause outlines the conditions under which BNYM may exercise its termination rights, such as breaches of contract, insolvency, or other defined events. By clearly stating when and how BNYM can terminate the agreement, this clause provides a mechanism for BNYM to manage risk and exit the contractual relationship if necessary, ensuring both parties understand the grounds for early termination.
Termination by BNYM. BNYM may immediately terminate Company’s license to use and Company’s access to and use of the 22c-2 System upon the occurrence of any of the following events:
(a) Company engages in conduct which infringes or exceeds the scope of the license granted to Company by Section 2.1 of this Schedule C and does not cure the breach within ten (10) business days after receiving written notice from BNYM; or
(b) A Third Party Provider terminates any relevant agreement the Third Party Provider has with BNYM that is necessary in order for BNYM to be able to license (or continue to license) the 22c-2 System to Company. BNYM agrees to provide Company with as much notice of such termination as BNYM receives from the Third Party Provider.
Termination by BNYM. BNYM may immediately terminate Company's right to use and Company's access to and use of the 22c-2 System upon the occurrence of any of the following events: