Common use of Default on Payment Clause in Contracts

Default on Payment. In the event of default on any payment due by SYNGENTA to D&PL or by D&PL to SYNGENTA hereunder and failure to cure such default within sixty (60) days of notice, the non-defaulting PARTY shall have the right to terminate this LICENSE AGREEMENT by giving notice to the defaulting PARTY to take effect immediately, provided that the non-defaulting PARTY shall not have a right to terminate if the alleged default is then subject to dispute resolution under Subsection 14.12 on the date on which a termination notice could otherwise have been given and is cured, as necessary, within thirty (30) days after the conclusion of any dispute resolution proceeding thereunder (including any arbitration proceedings), provided that if the DISPUTE relating to the alleged default is referred to arbitration under Subsection 14.12(b) and the arbitration panel has not rendered a final decision on the DISPUTE within one hundred eighty (180) days after the date on which the initial notice of referral of the subject DISPUTE to arbitration was given, a non-breaching PARTY (if it has not caused or materially contributed to the delay in rendition of the arbitration panel's decision) may thereupon give notice of termination based upon any then uncured default in payment described in its original notice under this Subsection 10.4 to take effect immediately.

Default on Payment. In the event of default on any payment due by ------------------- SYNGENTA to D&PL or by D&PL to SYNGENTA hereunder and failure to cure such default within sixty (60) days of notice, the non-defaulting PARTY shall have the right to terminate this LICENSE AGREEMENT by giving notice to the defaulting PARTY to take effect immediately, provided that the non-defaulting PARTY shall not have a right to terminate if the alleged default is then subject to dispute resolution under Subsection 14.12 on the date on which a termination notice could otherwise have been given and is cured, as necessary, within thirty (30) days after the conclusion of any dispute resolution proceeding thereunder (including any arbitration proceedings), provided that if the DISPUTE relating to the alleged default is referred to arbitration under Subsection 14.12(b) and the arbitration panel has not rendered a final decision on the DISPUTE within one hundred eighty (180) days after the date on which the initial notice of referral of the subject DISPUTE to arbitration was given, a non-breaching PARTY (if it has not caused or materially contributed to the delay in rendition of the arbitration panel's decision) may thereupon give notice of termination based upon any then uncured default in payment described in its original notice under this Subsection 10.4 to take effect immediately.

Default on Payment. In the event of default on any payment due by SYNGENTA CROP PROTECTION AG to D&PL DELTA AND PINE LAND COMPANY or by D&PL DELTA AND PINE LAND COMPANY to SYNGENTA CROP PROTECTION AG hereunder and failure to cure such default within sixty (60) days of notice, the non-defaulting PARTY shall have the right to terminate this AGREEMENT, and to terminate any or all of the LICENSE AGREEMENT AGREEMENTS, by giving notice to the defaulting PARTY to take effect immediately, provided that the non-defaulting PARTY shall not have a right to terminate if the alleged default is then subject to dispute resolution under Subsection 14.12 8.12 on the date on which a termination notice could otherwise have been given and is cured, as necessary, within thirty (30) days after the conclusion of any dispute resolution proceeding thereunder (including any arbitration proceedings), provided that if the DISPUTE relating to the alleged default is referred to arbitration under Subsection 14.12(b8.12(b) and the arbitration panel has not rendered a final decision on the DISPUTE within one hundred eighty (180) days after the date on which the initial notice of referral of the subject DISPUTE to arbitration was given, a non-breaching PARTY (if it has not caused or materially contributed to the delay in rendition of the arbitration panel's decision) may thereupon give notice of termination based upon any then uncured default in payment described in its original notice under this Subsection 10.4 7.3 to take effect immediately.

Default on Payment. In the event of default on any payment due by ------------------- SYNGENTA CROP PROTECTION AG to D&PL DELTA AND PINE LAND COMPANY or by D&PL DELTA AND PINE LAND COMPANY to SYNGENTA CROP PROTECTION AG hereunder and failure to cure such default within sixty (60) days of notice, the non-defaulting PARTY shall have the right to terminate this AGREEMENT, and to terminate any or all of the LICENSE AGREEMENT AGREEMENTS, by giving notice to the defaulting PARTY to take effect immediately, provided that the non-defaulting PARTY shall not have a right to terminate if the alleged default is then subject to dispute resolution under Subsection 14.12 8.12 on the date on which a termination notice could otherwise have been given and is cured, as necessary, within thirty (30) days after the conclusion of any dispute resolution proceeding thereunder (including any arbitration proceedings), provided that if the DISPUTE relating to the alleged default is referred to arbitration under Subsection 14.12(b8.12(b) and the arbitration panel has not rendered a final decision on the DISPUTE within one hundred eighty (180) days after the date on which the initial notice of referral of the subject DISPUTE to arbitration was given, a non-breaching PARTY (if it has not caused or materially contributed to the delay in rendition of the arbitration panel's decision) may thereupon give notice of termination based upon any then uncured default in payment described in its original notice under this Subsection 10.4 7.3 to take effect immediately.