DEFAULT. Licensor shall have the right to immediately terminate the Standard License Agreement without prejudice to any other rights which Licensor may have at law or in equity if (i) Licensee commits a breach of this Agreement and such breach is not remedied within seven days of receipt of written notice from Licensor; (ii) Licensee does not respect the payment terms provided in Article 8 of the Special Terms and Conditions and such breach is not remedied within 7 days of receipt of written notice from Licensor; (iii) Licensee is unable to pay its debts as and when they fall due or suffers the making of any administrative order or the appointment of any manager over its assets by court order; (iv) an order shall be made for winding up or bankruptcy of Licensee, or it shall enter into any composition or arrangement with its creditors; or (v) it ceases to carry on business (collectively, “Default”). Upon the occurrence of any Default, Licensor may, in addition to any other rights it may have at law and in equity, demand all amounts of monies payable to Licensor hereunder which shall immediately become due and payable to Licensor. Licensor will communicate in writing to Licensee its intention to exercise such right of termination.
DEFAULT. If Licensee fails to make payments as and when due hereunder, fails to order and pay for material, or otherwise breaches any restrictions or other material provision of this Agreement, or if a voluntary petition in bankruptcy shall be filed by Licensee, or if a receiver, trustee or liquidator of Licensee or its property be appointed , (each and all events being herein defined as "default") then, at any time during the continuance of any such default Licensor may, in addition to any other rights it may have at law or in equity, at its options and without in any way impairing its right to payment in full hereunder, suspend delivery of prints hereunder and/or terminate all rights herein granted without refunding or rebating any amounts whatsoever to Licensee and Licensor shall have the right to immediately exploit the Program in any and all media it shall so desire . Upon any termination hereunder, all license fees then due or to become due to Licensor hereunder shall become immediately due and payable. Notwithstanding the foregoing, Licensor shall give Licensee written notice of intention to terminate this or any other license by reason of Licensee's default hereunder and Licensee shall have thirty (30) days within which to cure such default (provided that the foregoing notice requirement shall not apply to voluntary bankruptcy or any other default which, by its nature, cannot be cured within thirty (30) days.).
DEFAULT. If Licensee fails to make payments as and when due hereunder, fails to order and pay for material, or otherwise breaches any restrictions or other material provision of this Agreement, or if a voluntary petition in bankruptcy shall be filed by Licensee, or if a receiver, trustee or liquidator of Licensee or its property be appointed, (each and all events being herein defined as « default ») then, at any time during the continuance of any such default Licensor may, in addition to any other rights it may have at law or in equity, at its options and without in any way impairing its right to payment in full hereunder, suspend delivery of prints hereunder and/or terminate all rights herein granted without refunding or rebating any amounts whatsoever to Licensee and Licensor shall have the right to immediately exploit the Programme(s) in any and all media it shall so desire. Upon any termination hereunder, all License Fees then due or to become due to Licensor hereunder shall become immediately due and payable.
DEFAULT. (a) This agreement shall terminate automatically, without necessity of notice, in the event that Xxxxx makes an assignment for the benefit of creditors, is adjudicated a bankrupt or in the event of the filing of any voluntary or involuntary petition in bankruptcy against Buyer or the appointment of a receiver for Buyer or any substantial part of its properties.