Common use of Trustees Termination of Agreement Clause in Contracts

Trustees Termination of Agreement. Trustees, along with all other rights and remedies they may have, shall have the right to immediately terminate this Agreement in writing. Upon Trustees’ written notice of termination, all of Licensee’s rights in the Site and Licensed Area shall terminate except that Licensee shall have all rights in the Site and Licensed Area required for Licensee to fulfill its obligations pursuant to Section 13.1 and 13.2. Termination shall not relieve Licensee from the obligation to pay any sum then due to Trustees or from any claim for damages previously accrued or then accruing against Licensee. Upon any termination of this Agreement under this Subsection 15.3.1.1, Licensee shall execute such documents as Trustees may request to memorialize the termination and to release Trustees and the Site and Licensed Area from the terms and conditions of this Agreement.

Appears in 4 contracts

Samples: License and Services Agreement, License and Services Agreement, License and Services Agreement

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