Effect on Term. In the event an Article VI Convertible Note is outstanding and either (a) such Article VI Convertible Note is not paid in full in cash or automatically converted within 20 days after it becomes due upon either scheduled or accelerated maturity or (b) Seelos or its successor liquidates, dissolves or winds up, then (in addition to and cumulatively with any and all other rights and remedies of Licensor), upon written notice from Licensor to Seelos, this Agreement shall automatically and immediately terminate.
Appears in 2 contracts
Sources: License Agreement (Apricus Biosciences, Inc.), License Agreement (Apricus Biosciences, Inc.)