Common use of By State Street Clause in Contracts

By State Street. State Street may, by giving written notice to the relevant BFA Recipient, terminate any Service Module with respect to such BFA Recipient as of a date specified in the notice of termination only if: (i) each such BFA Recipient materially breaches (which shall be deemed to include any material breach by any Third-Party Provider or other agent of such BFA Recipient) any of its obligations to indemnify or adhere to obligations with respect to confidentiality or the use or protection of State Street’s Intellectual Property, whether arising under this Agreement, any Service Module, or the License Agreements, which breach is not cured (or capable of cure) within thirty (30) days after State Street notifies BFA of such breach; or (ii) a BFA Recipient or BFA, on behalf of a BFA Recipient, fails to pay State Street undisputed fees when due under such Service Module totaling at least four (4) months’ fees, and fails to cure such breach within thirty (30) days of notice from State Street of the failure to make payment.