Termination By NEB Clause Samples

Termination By NEB. NEB shall have the right to stop selling the Royalty-Bearing Products only in accordance with the provisions of Paragraph 4 or upon any material breach or default of any provision of this Settlement Agreement by SGI if SGI has not cured any such breach or default prior to the expiration of sixty (60) days from receipt of written notice of the breach or default. In addition, all rights and interests granted to NEB hereunder are, for purposes of Section 365(n) of the United States Bankruptcy Code, including any equivalent foreign statutes (the "Bankruptcy Code"), licenses of "intellectual property" within the meaning of Sections 101 (35A) and 365 of the Bankruptcy Code. SGI acknowledges that NEB, as a licensee of such rights and interests hereunder, will retain and may fully exercise all of its rights and interests under this Settlement Agreement and the Bankruptcy Code, and no subsequent sale or transfer of the intellectual property by SGI, or by any successor in interest to SGI, shall terminate or modify NEB's rights and interests under this Settlement Agreement, whether NEB, or any successor in interest, receives notice of any such sale or transfer or objects to any such sale or transfer. If SGI, or any successor-in-interest to SGI, including a debtor-in-possession or trustee, rejects this Settlement Agreement under Section 365 of the Bankruptcy Code, NEB shall elect, and hereby does so elect prospectively, to retain its rights and interests to the intellectual property under this Settlment Agreement to the full extent permitted by Section 365(n) of the Bankruptcy Code, and hereby prospectively requests that SGI, and any successor in interest, to SGI comply with the requirements of Sections 365(n) of the Bankruptcy Code.