Termination by Optionee. The Optionee shall be entitled to terminate this Option Agreement without further liability at any time by giving thirty (30) days written notice of termination to the Optionor.
Termination by Optionee. OPTIONEE has the right at any time to terminate this OPTION AGREEMENT or to terminate its rights to any or all PATENT RIGHTS by providing notice (“NOTICE OF TERMINATION”) to REGENTS. Such NOTICE OF TERMINATION shall be subject to to the Notices Article of this OPTION AGREEMENT and such will be effective sixty (60) days from the effective date of such NOTICE OF TERMINATION.
Termination by Optionee. The Optionee may in its sole discretion terminate this Agreement at any time by giving not less than 30 days prior written notice to that effect to Optionor. Upon expiration of the applicable notice period set forth in the preceding sentence, or if the Agreement is terminated pursuant to any other provision of this Agreement, the Agreement will be of no further force and effect. Upon such termination, Optionee shall have no further obligation to incur Exploration and Development Expenses on or for the benefit of the Property and shall have no further obligations or liabilities to Optionor under this Agreement or with respect to the Property (including without limitation liability for lost profits or consequential, incidental or punitive damages as a result of an election by Optionee to terminate this Agreement), other than (a) as set forth in the remainder of this paragraph, (b) its indemnification obligations under Section 11.1, and (c) its obligation to reclaim (in accordance with applicable law) any disturbances of the Property made by the Optionee. Optionor hereby agrees to grant Optionee such access to the Property as is reasonably necessary to complete any required reclamation. In the event of such termination, Optionor's indemnification obligation under Section 11.2 shall survive. At any time Optionee may, at its option, terminate its interest in some but less than all of the Property by written notice to Optionor, provided that if such notice (or notice of termination of this Agreement in its entirety) is received by Optionor after June 30th of any year, Optionee shall remain obligated to pay the BLM claim maintenance fees (and make all filings and recordings required in connection therewith) for those Claims to which such termination applies for the upcoming assessment year. To the extent the Optionee terminates its interest in some but less than all of the Property, this Agreement shall remain in full force and effect with respect to the remaining Property. Notwithstanding the foregoing provisions of this Section 5.1, if, following termination of this Agreement by Optionee, Optionor enters into an agreement with a third party regarding exploration, development or exploitation of all or any portion of the Property, the Optionee's obligations under this Section 5.1 shall terminate.
Termination by Optionee. If Optionee terminates his employment for any reason, the Option shall continue to be exercisable in whole or in part (to the extent exercisable on the date of the such termination of employment) for the duration of the Exercise Term.
Termination by Optionee. OPTIONEE shall have the right at any time to terminate this Agreement in whole or as to any portion of Regents' Patent Rights by giving notice in writing to THE REGENTS. Such Notice of Termination shall be subject to Article 14 (Notices) and such termination shall be effective thirty (30) days from the effective date of such notice.
Termination by Optionee. Optionee may at any time terminate this Agreement by giving 30-day advance written notice of said termination to Optionor. On or promptly after delivery of the notice of termination, Optionee shall execute and deliver to Optionor a written release of the Agreement in proper form for recording. Optionee shall be required to pay all payments whatsoever owed to Optionor at the time of termination. On expiration or termination of this Agreement, Optionee shall surrender and return the Property in a state of compliance with applicable laws, regulations and ordinances of any government agency or authority having jurisdiction of the Property, and, if Optionee compliance is incomplete at such time, then Optionee shall diligently take the actions necessary to complete compliance. Optionee will leave claims in good standing in regards to paying annual BLM Rental Fees of $125 per claim. Optionee obligation to perform all reclamation and cleanup work as required by federal, state and local government regulation, law or statute as a result of its activities or operations on the Property shall survive termination of this Agreement.
Termination by Optionee. Upon any termination of employment by Optionee, the Options may, to the extent exercisable and not terminated pursuant to SECTION 4.3(e), be exercised only within thirty (30) days after the date of such employment termination. This SECTION 4.3(b) shall not, however, extend the term of the Options beyond that specified in SECTION 4.3(e). For purposes of this SECTION 4.3(b), the extent to which the Options are exercisable shall be determined as of the date of termination of employment.
Termination by Optionee. 9.1 Surrozen has the right to terminate this Agreement at any time by providing a Notice of Termination to The Regents. Termination of this Agreement will be effective sixty (60) days from the effective date of such notice.
Termination by Optionee. Optionee agrees to promptly notify OHIO at any time during the term of this Agreement when Optionee has determined that it does not wish to exercise its option under Section 2.1. Optionee agrees to provide OHIO a written statement of the basis for such a determination in reasonable detail.
Termination by Optionee. Notwithstanding any other provision of this Agreement, and provided that the Optionee shall have made the cash payment due on the Effective Date pursuant to Section 3.2(a), the Optionee may elect at any time to terminate the Option by giving 30 days' advance written notice to that effect to the Optionor, in which event the Optionee shall have no further obligations to the Optionor hereunder, save and except as set forth in Article 9, and Article 10 and Section 5.3.
