Common use of Termination by Either Party for Cause Clause in Contracts

Termination by Either Party for Cause. (a) In the event either party shall be in breach of any material obligation hereunder, the non-breaching party may give written notice to the breaching party specifying the claimed particulars of such breach, and in the event such material breach is not cured, or effective steps to cure such material breach have not been initiated or are not thereafter diligently pursued within *** (***) days following the date of such written notification, in addition to any other damages or remedies available to the non-breaching party, the non-breaching party shall have the right thereafter to terminate this Agreement by giving not less than *** (***) days’ prior written notice to the breaching party to such effect. Any termination by any party under this Section 7.02 shall be without prejudice to any damages or remedies to which it may be entitled from the other party. *** = Portions of this exhibit have been omitted pursuant to a request for confidential treatment. An unredacted version of this exhibit has been filed separately with the Commission. (b) Either party may terminate this Agreement upon written notice if the other party becomes insolvent, makes or has made an assignment for the benefit of creditors, is the subject of proceedings in voluntary or involuntary bankruptcy instituted on behalf of or against such party (except for involuntary bankruptcies which are dismissed within *** (***) days), or has a receiver or trustee appointed for substantially all of its property.

Termination by Either Party for Cause. 21.2.1 Either Party may terminate this Agreement, effective immediately, upon written notice, in the event: (ai) In the event either party shall be in other Party has committed a material breach of any material obligation hereunder, the provisions of this Agreement and such breach has not been cured within sixty (60) calendar days or such shorter or longer period as may reasonably be require under the circumstances (“Cure Period”) from receipt of a written notice which was issued to the breaching Party by the non-breaching party may give written notice to the breaching party Party specifying the claimed particulars of such breach, material breach and in the event that further states that this Agreement (as applicable) is terminated with immediate effect if such material breach is not curedcured within the Cure Period, or effective steps provided that in the event Sophiris notifies BI RCV in accordance with this Section 21.2.1(i), BI RCV shall provide Sophiris a written action plan on how to cure such material breach have not been initiated or are not thereafter diligently pursued within *** four (***4) days following the date weeks of such written notification, in addition to any other damages or remedies available to the non-breaching party, the non-breaching party shall have the right thereafter to terminate this Agreement by giving not less than *** ; (***ii) days’ prior written notice to the breaching party to such effect. Any termination by any party under this Section 7.02 shall be without prejudice to any damages or remedies to which it may be entitled from the other party. *** = Portions of this exhibit have been omitted pursuant Party is not able to a request repeatedly fulfil its payment obligations towards its debtors, declares bankruptcy, is declared or adjudicated bankrupt, by voluntary or involuntary action goes into liquidation, enters into an arrangement for confidential treatment. An unredacted version of this exhibit has been filed separately with the Commission. (b) Either party may terminate this Agreement upon written notice if the other party becomes insolvent, makes or has made an assignment for the benefit of creditors, or dissolves or files a petition for bankruptcy or suspension of payments, or enters into a procedure of winding up or dissolution that is the subject of proceedings in voluntary or involuntary bankruptcy instituted on behalf of or against such party (except for involuntary bankruptcies which are not dismissed within *** forty-five (***45) days), or has a trustee in bankruptcy or receiver or trustee other equivalent entity be appointed for substantially all of its propertythe other Party’s property or estate (“Bankruptcy”); or (iii) the Process for the Product could not be implemented by BI RCV in the GMP plants for process technical reasons.

Termination by Either Party for Cause. 21.2.1 Either Party may terminate this Agreement, effective immediately, upon written notice, in the event: (ai) In the event either party shall be in other Party has committed a material breach of any material obligation hereunder, the provisions of this Agreement and such breach has not been cured within sixty (60) calendar days or such shorter or longer period as may reasonably be require under the circumstances (“Cure Period”) from receipt of a written notice which was issued to the breaching Party by the non-breaching party may give written notice to the breaching party Party specifying the claimed particulars of such breach, material breach and in the event that further states that this Agreement (as applicable) is terminated with immediate effect if such material breach is not curedcured within the Cure Period, or effective steps provided that in the event Sophiris notifies BI RCV in accordance with this Section 21.2.1(i), BI RCV shall provide Sophiris a written action plan on how to cure such material breach have not been initiated or are not thereafter diligently pursued within *** four (***4) days following the date weeks of such written notification, in addition to any other damages or remedies available to the non-breaching party, the non-breaching party shall have the right thereafter to terminate this Agreement by giving not less than *** ; (***ii) days’ prior written notice to the breaching party to such effect. Any termination by any party under this Section 7.02 shall be without prejudice to any damages or remedies to which it may be entitled from the other party. *** = Portions of this exhibit have been omitted pursuant Party is not able to a request repeatedly fulfil its payment obligations towards its debtors, declares bankruptcy, is declared or adjudicated bankrupt, by voluntary or involuntary action goes into liquidation, enters into an arrangement for confidential treatment. An unredacted version of this exhibit has been filed separately with the Commission. (b) Either party may terminate this Agreement upon written notice if the other party becomes insolvent, makes or has made an assignment for the benefit of creditors, or dissolves or files a petition for bankruptcy or suspension of payments, or enters into a procedure of winding up or dissolution that is the subject of proceedings in voluntary or involuntary bankruptcy instituted on behalf of or against such party (except for involuntary bankruptcies which are not dismissed within *** forty-five (***45) days), or has a trustee in bankruptcy or receiver or trustee other equivalent entity be appointed for substantially all the other Party’s property or estate (“Bankruptcy”); or (iii) the Process for the Product could not be implemented by BI RCV in the GMP plants for process technical reasons. 21.2.2 With regard to Potentially Non-Conforming Product, Section 9 of its propertythis Agreement shall prevail over Section 21.2.1.