Common use of Termination by TSRI Clause in Contracts

Termination by TSRI. TSRI may terminate this Agreement as follows: a. If Licensee does not make a payment due hereunder and fails to cure such non-payment (including the payment of interest in accordance with Section 14.2) within thirty (30) days after the date of notice in writing of such non-payment by TSRI; b. If Licensee defaults upon its indemnification and insurance obligations under Section 9 and the default has not been remedied within thirty (30) days after the date of notice in writing of such default by TSRI; c. As provided in Section 6.2; d. Upon written notice to Licensee in the event of the filing of bankruptcy or the bankruptcy of Licensee or the appointment of a receiver of any of Licensee’s assets, or the making by Licensee of any assignment for the benefit of creditors, or the institution of any proceedings against Licensee under any bankruptcy or insolvency laws; e. If Licensee is convicted of a felony relating to the development, manufacture, use, marketing, distribution or sale of Licensed Products, Licensed Processes or Licensed Biological Materials; f. In the event Licensee brings any Challenge(s), TSRI has the right to immediately terminate this Agreement without any liability and without any opportunity to cure by Licensee upon written notice to Licensee. In the event that Sublicensee brings any Challenge(s), Licensee agrees that it will terminate such Sublicense; g. Except as provided in subparagraphs (a) - (f) above, if Licensee commits a material breach of any of its obligations under this Agreement and the material breach has not been remedied within ninety (90) days after the date of notice in writing of such default by TSRI.

Termination by TSRI. TSRI may terminate this Agreement as follows: a. If Licensee does not make a payment due hereunder and fails to cure such non-payment (including the payment of interest in accordance with Section 14.2) within thirty (30) days after the date of notice in writing of such non-payment by TSRI; b. If Licensee defaults upon its indemnification and insurance obligations under Section 9 and the default has not been remedied within thirty (30) days after the date of notice in writing of such default by TSRI; c. As provided in Section 6.2; d. Upon written notice to Licensee in the event of the filing of bankruptcy or the bankruptcy of Licensee or the appointment of a receiver of any of Licensee’s assets, or the making by Licensee of any assignment for the benefit of creditors, or the institution of any proceedings against Licensee under any bankruptcy or insolvency laws; e. If Licensee is convicted of a felony relating to the development, manufacture, use, marketing, distribution or sale of Licensed Products, Licensed Processes or Licensed Biological Materials; f. In the event Licensee brings any Challenge(s), TSRI has the right to immediately terminate this Agreement without any liability and without any opportunity to cure by Licensee upon written notice to Licensee. In the event that Sublicensee brings any Challenge(s), . Licensee agrees that it will terminate such Sublicense; g. Except as provided in subparagraphs (a) - (f) above, if Licensee commits a material breach of any of its obligations under this Agreement and the material breach has not been remedied within ninety (90) days after the date of notice in writing of such default by TSRI.