Common use of Termination for Failure to Pay Clause in Contracts

Termination for Failure to Pay. If COMPANY fails to make any payment due hereunder, HOSPITAL shall have the right to terminate this AGREEMENT upon ten (10) business days written notice, unless COMPANY makes such payments plus any interest due, as set forth in Section 4.9, within said ten (10) day notice period. If payments are not made, HOSPITAL may immediately terminate this AGREEMENT at the end of said ten (10) day period. COMPANY shall be entitled to only one such cure period in a calendar year; for a second failure to make payment on time within a calendar year, HOSPITAL shall have the right to terminate this AGREEMENT immediately upon written notice.

Appears in 4 contracts

Samples: Exclusive License Agreement, Exclusive License Agreement (Zeltiq Aesthetics Inc), Exclusive License Agreement (Zeltiq Aesthetics Inc)

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Termination for Failure to Pay. If COMPANY Company fails to make any payment due hereunder, HOSPITAL Hospital shall have the right to terminate this AGREEMENT Agreement upon ten (10) business days written notice, unless COMPANY Company makes such payments plus any interest due, as set forth in Section 4.94.7, within said ten (10) day notice period. If payments are not made, HOSPITAL Hospital may immediately terminate this AGREEMENT Agreement at the end of said ten (10) day period. COMPANY Company shall be entitled to only one such cure period in a calendar year; for a second failure to make payment on time within a calendar yeartime, HOSPITAL Hospital shall have the right to terminate this AGREEMENT Agreement immediately upon written notice.

Appears in 4 contracts

Samples: License Agreement (ArcherDX, Inc.), License Agreement (ArcherDX, Inc.), Exclusive Patent License Agreement (Vicapsys Life Sciences, Inc.)

Termination for Failure to Pay. If COMPANY fails to make any payment due hereunder, HOSPITAL shall have the right to terminate this AGREEMENT upon ten fifteen (1015) business days written notice, unless COMPANY makes such payments plus any interest due, as set forth in Section 4.94.8, within said ten twenty (1020) day notice period. If payments are not made, HOSPITAL may immediately terminate this AGREEMENT at the end of said ten fifteen (1015) day period. COMPANY shall be entitled to only one such cure period in a calendar year; for a second failure to make payment on time within a calendar year, HOSPITAL shall have the right to terminate this AGREEMENT immediately upon written notice.

Appears in 2 contracts

Samples: Exclusive License Agreement (T2 Biosystems, Inc.), Exclusive License Agreement (T2 Biosystems, Inc.)

Termination for Failure to Pay. If COMPANY Company fails to make any payment due hereunder, HOSPITAL Hospital shall have the right to terminate this AGREEMENT Agreement upon ten Thirty (1030) business days written notice, unless COMPANY Company makes such payments plus any interest due, as set forth in Section 4.94.7, within said ten Thirty (10) day 30)day notice period. If payments are not made, HOSPITAL Hospital may immediately terminate this AGREEMENT Agreement at the end of said ten Thirty (10) day 30)day period. COMPANY Company shall be entitled to only one One (1) such cure period in a calendar year; for a second failure to make payment on time within a calendar yeartime, HOSPITAL Hospital shall have the right to terminate this AGREEMENT Agreement immediately upon written notice.

Appears in 2 contracts

Samples: License Agreement (Fluoropharma Medical, Inc.), License Agreement (Fluoropharma Medical, Inc.)

Termination for Failure to Pay. If COMPANY fails to make any payment due hereunder, HOSPITAL shall have the right to terminate this AGREEMENT upon ten (10) business days written notice, unless COMPANY makes such payments plus any interest due, as set forth in Section 4.9, within said ten (10) day notice period. If payments are arc not made, HOSPITAL may immediately terminate this AGREEMENT at the end of said ten (10) day period. COMPANY shall be entitled to only one such cure period in a calendar year; year for a second failure to make payment on time within a calendar year, HOSPITAL HOSPITAL, shall have the right to terminate this AGREEMENT immediately upon written notice.

Appears in 2 contracts

Samples: License Agreement (Zeltiq Aesthetics Inc), Exclusive License Agreement (Zeltiq Aesthetics Inc)

Termination for Failure to Pay. If COMPANY Company fails to make any payment due hereunder, HOSPITAL Hospital shall have the right to terminate this AGREEMENT Agreement upon ten (10) business days written notice, unless COMPANY Company makes such payments plus any interest due, as set forth in Section 4.94.7, within said ten (10) business day notice period. If payments are not made, HOSPITAL Hospital may immediately terminate this AGREEMENT Agreement at the end of said ten (10) business day period. COMPANY Company shall be entitled to only one (1) such cure period in a calendar year; for a second failure to make payment on time within a calendar yeartime, HOSPITAL Hospital shall have the right to terminate this AGREEMENT Agreement immediately upon written notice.

Appears in 2 contracts

Samples: Patent License Agreement (ProQR Therapeutics B.V.), Patent License Agreement (ProQR Therapeutics B.V.)

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Termination for Failure to Pay. If COMPANY Company fails to make any payment due hereunder, HOSPITAL Hospital shall have the right to terminate this AGREEMENT Agreement upon ten thirty (1030) business days written notice, unless COMPANY Company makes such payments plus any interest due, as set forth in Section 4.94.7, within said ten thirty (1030) business day notice period. If payments are not made, HOSPITAL Hospital may immediately terminate this AGREEMENT Agreement at the end of said ten thirty (1030) business day periodperiod on a country by country basis. COMPANY Company shall be entitled to only one such cure period in a calendar year; for a second failure to make payment on time within a calendar yeartime, HOSPITAL Hospital shall have the right to terminate this AGREEMENT Agreement immediately upon written notice.

Appears in 1 contract

Samples: Non Exclusive Patent License Agreement (Frequency Therapeutics, Inc.)

Termination for Failure to Pay. If COMPANY fails to make any payment due hereunder, HOSPITAL shall have the right to terminate this AGREEMENT upon ten thirty (1030) business calendar days written notice, unless COMPANY makes such payments plus any interest due, as set forth in Section 4.93.5, within said ten thirty (1030) day notice period. If payments are not made, HOSPITAL may immediately terminate this AGREEMENT at the end of said ten thirty (1030) day period. COMPANY shall be entitled to only one such cure period in a calendar year; for a second failure to make payment on time within a calendar year, HOSPITAL shall have the right to terminate this AGREEMENT immediately upon written notice.

Appears in 1 contract

Samples: General Hospital Corporation Exclusive License Agreement (Zeltiq Aesthetics Inc)

Termination for Failure to Pay. If COMPANY fails to make any payment due hereunder, HOSPITAL shall have the right to terminate this AGREEMENT upon ten (10I 0) business days written notice, unless COMPANY makes such payments plus any interest due, as set forth in Section 4.94.11, within said ten (10I 0) day notice period. If payments are not made, HOSPITAL may immediately terminate this AGREEMENT at the end of said ten (10I 0) day period. COMPANY shall be entitled to only one such cure period in a calendar year; for a second failure to make payment on time within a calendar yeartime, HOSPITAL shall have the right to terminate this AGREEMENT immediately upon written notice.

Appears in 1 contract

Samples: License Agreement (Alopexx, Inc.)

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