Common use of Termination on Payment Default Clause in Contracts

Termination on Payment Default. At FHCRC's option, FHCRC may terminate this Agreement effective thirty (30) days after giving written notice in the event LICENSEE fails to pay any Annual Payment or other amounts owed under this Agreement when due, unless the payment default is cured or shown to be non-existent within such thirty (30) day period, in which case the Agreement will remain in effect.

Termination on Payment Default. At FHCRC's ’s option, FHCRC may terminate this Agreement effective thirty (30) days after giving written notice in the event LICENSEE fails to pay any Annual Payment royalties or other amounts owed under this Agreement when due, unless . During the payment default is cured or shown to be non-existent within such thirty (30) day periodperiod after written notice of payment default, in which case LICENSEE has the Agreement will remain in effectright to cure any payment default and prevent termination under this Section 11.1.

Termination on Payment Default. At FHCRC's option, FHCRC may terminate this Agreement effective thirty (30) days after giving written notice in the event LICENSEE fails to pay any Annual Payment royalties or other amounts owed under this Agreement when due, unless . During the payment default is cured or shown to be non-existent within such thirty (30) day periodperiod after written notice of payment default, in which case LICENSEE has the Agreement will remain in effectright to cure any payment default and prevent termination under this Section 11.1.