Common use of Termination by Stanford Clause in Contracts

Termination by Stanford. (A) Stanford may also terminate this Agreement if Eidos: (1) is delinquent on any report or payment under this Agreement; (2) is not diligently using commercially reasonable efforts in developing and commercializing Licensed Product (directly or through an Affiliate or sublicensee); (3) misses a milestone described in Appendix A, provided that parties have completed the process set forth in Section 6.1 (4) is in material breach of any material provision of this Agreement; or (5) knowingly provides any false report to Stanford under this Agreement. (B) Termination under this Section 15.2 will take effect 30 days after written notice by Stanford unless Eidos remedies the problem in that 30-day period.