Common use of Termination by Emerald Clause in Contracts

Termination by Emerald. Notwithstanding anything herein to the contrary, Emerald may terminate this Agreement at any time, including during the Event, for any reason without a refund or liability to Sponsor of any sort, and without a reduction in fees owed by Sponsor to Emerald, and without limiting any other remedy Emerald may have: (i) if Sponsor fails to make any payment required by this Agreement in a timely manner; (ii) upon any breach or threatened breach of this Agreement by Sponsor; (iii) if Emerald, in its sole discretion, believes the Sponsor’s sponsorship content is inappropriate for any reason, including, but not limited to, if Emerald reasonably believes that Sponsor’s sponsorship content infringes the proprietary rights of a third party, (iv) if Sponsor, in Emerald’s opinion, behaves poorly, disrupts the Event or detracts from the general character of the Event or interferes in any way with another Event participant; or (v) if Sponsor becomes insolvent, makes any assignment for the benefit of creditors, goes to liquidation or has a receiver or trustee appointed for the benefit of creditors, whether voluntary or otherwise, or seeks the protection of, or has a proceeding instituted against it, under the bankruptcy code, or any similar statute. Additionally, Emerald may terminate this Agreement for convenience at any time for any reason, and upon such termination, shall be liable only for the amount actually paid to Emerald by Sponsor for sponsorship at the Event pursuant to this Agreement. All fees paid by Sponsor to Emerald are non-refundable except as specifically set forth herein.

Termination by Emerald. Notwithstanding anything herein to the contrary, Emerald may terminate this Agreement at any time, including during the Event, for any reason without a refund or liability to Sponsor of any sort, and without a reduction in fees owed by Sponsor to Emerald, and without limiting any other remedy Emerald may have: (i) if Sponsor fails to make any payment required by this Agreement Agree- ment in a timely manner; (ii) upon any breach or threatened breach of this Agreement by Sponsor; (iii) if Emerald, in its sole discretion, believes the Sponsor’s sponsorship content is inappropriate for any reason, including, but not limited to, if Emerald reasonably believes that Sponsor’s sponsorship content infringes the proprietary rights of a third party, (iv) if Sponsor, in Emerald’s opinion, behaves poorly, disrupts the Event or detracts from the general character of the Event or interferes in any way with another Event participant; or (v) if Sponsor becomes insolvent, makes any assignment for the benefit of creditors, goes to liquidation or has a receiver or trustee appointed for the benefit of creditors, whether voluntary or otherwise, or seeks the protection of, or has a proceeding instituted against it, under the bankruptcy code, or any similar statute. Additionally, Emerald may terminate this Agreement for convenience at any time for any reason, and upon such termination, shall be liable only for the amount actually paid to Emerald by Sponsor for sponsorship at the Event pursuant to this Agreement. All fees paid by Sponsor to Emerald are non-refundable except as specifically set forth herein.