Common use of Effect of Expiration or Termination of Agreement Clause in Contracts

Effect of Expiration or Termination of Agreement. Within thirty (30) days ------------------------------------------------ after expiration or termination under this Article 7, each party shall return to the other party or destroy any and all Confidential Information provided by the other party pursuant to this Agreement according to section 11.3. SPECIALTY shall have the right to use all MassARRAY Kits for which SPECIALTY has paid and are in SPECIALTY's possession at the time of termination, and the licenses granted SPECIALTY pursuant to sections 5.1 and 5.2 shall continue until all such MassARRAY Kits are used. Except to the extent expressly provided to the contrary, the rights and obligations of the parties pursuant to Articles 4.1, 4.3, 4.5, 6.1, 6.2, 6.3, 11, 12 and 14.14 shall survive the expiration or termination of this Agreement. Any and all rights of SEQUENOM to purchase price and royalty payments accrued through expiration or termination as well as obligations of the parties under firm orders for purchase and delivery of MassARRAY Products at the time of such expiration or termination shall remain in effect, except that SEQUENOM will have no obligation to sell and deliver MassARRAY Products that have delivery dates more than three (3) months after the date of termination, and in the case of termination under sections 7.2 or 7.3, the terminating party has discretion in electing whether obligations under firm orders will remain in effect.

Appears in 2 contracts

Samples: Purchase and License Agreement (Sequenom Inc), Purchase and License Agreement (Sequenom Inc)

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Effect of Expiration or Termination of Agreement. Within thirty (30) days ------------------------------------------------ after expiration or termination under this Article 7, each party shall return to the other party or destroy any and all Confidential Information provided by the other party pursuant to this Agreement according to section 11.31l.3. SPECIALTY shall have the right to use all MassARRAY Kits for which SPECIALTY has paid and are in SPECIALTY's 'S possession at the time of termination, and the licenses granted SPECIALTY pursuant to sections 5.1 and 5.2 shall continue until all such MassARRAY Kits are used. Except to the extent expressly provided to the contrary, the rights and obligations of the parties pursuant to Articles 4.1, 4.3, 4.5, 6.1, 6.2, 6.3, 11, 12 and 14.14 shall survive the expiration or termination of this Agreement. Any and all rights of SEQUENOM to purchase price and royalty payments accrued through expiration or termination as well as obligations of the parties under firm orders for purchase and delivery of MassARRAY Products at the time of such expiration or termination shall remain in effect, except that SEQUENOM will have no obligation to sell and deliver MassARRAY Products that have delivery dates more than three (3) months after the date of termination, and in the case of termination under sections 7.2 or 7.3, the terminating party has discretion in electing whether obligations under firm orders will remain in effect.

Appears in 2 contracts

Samples: Purchase and License Agreement (Specialty Laboratories), Purchase and License Agreement (Specialty Laboratories)

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