Draxis Material Default Clause Samples
Draxis Material Default. Upon the occurrence of a Draxis Material Default, GSK shall have the right to terminate this Agreement immediately or at such other date specified under this Agreement and seek all other remedies available under law or in equity.
Draxis Material Default. “Draxis Material Default” shall mean the occurrence of any of the events listed below, regardless of whether the occurrence is voluntary or involuntary; provided, however, that none of the following occurrences shall constitute a “Draxis Material Default” to the extent such occurrence is a direct result of (i) a breach by GSK of representation, warranty or covenant hereunder; (ii) any failure by GSK to comply with Legal Requirements to the extent they pertain to the Products or the Regulatory Acts; (iii) a GSK Material Default; (iv) Draxis’ compliance with an order of a Governmental Body directed to Draxis specifically regarding its compliance with cGMPs, the Regulatory Acts, or Legal Requirements; or (v) a Force Majeure Event: