Common use of License Term and Termination Clause in Contracts

License Term and Termination. Unless otherwise specified, any license granted is perpetual, provided however that if Customer fails to comply with the terms of this Agreement, Licensor may terminate the license upon written notice. Immediately upon termination, or in the case of a limited-term license, upon expiration, Licensee will either destroy all copies of the software in its posession, or return them to Licensor, or give the Licensor access to the SAP environment where they were installed to be able to uninstall them, except that Licensee may retain one copy of licensed software in its posession for archival purposes only. Either party may terminate this Agreement immediately with written notice if the other fails to meet any material obligation of this Agreement and fails to remedy the breach within 30 days after being notified in writing of the details. Notwithstanding the foregoring, the Licensor may, at its sole discretion and with written notice, suspend or restrict the access of the Licensee to the licensed software if the Licensee fails to meet any material obligation of this Agreement, including (but not restricted to) making license fee payments, and if the Licensee fails to remedy the breach within 15 days after being notified in writing of the details. If either party becomes insolvent, unable to pay debts when due, files for or is subject to bankruptcy or receivership or asset assignment, the other party may terminate this Agreement and immediately cancel any unfulfilled obligations. Any terms in the Agreement which by their nature extend beyond termination or expiration of the Agreement will remain in effect until fulfilled and will apply to both parties' respective successors and permitted assigns. Termination, in accordance with this agreement, shall trigger an immediate payment by Licensee of all pending fees owed for the services rendered until such date.

License Term and Termination. Unless otherwise specified, any license granted is perpetual, provided however that if Customer fails to comply with the terms of this Agreement, Licensor may terminate the license upon written notice. Immediately upon termination, or in the case of a limited-limited- term license, upon expiration, Licensee will either destroy all copies of the software in its posession, or return them to Licensor, or give the Licensor access to the SAP environment where they were installed to be able to uninstall them, except that Licensee may retain one copy of licensed software in its posession for archival purposes only. Either party may terminate this Agreement immediately with written notice if the other fails to meet any material obligation of this Agreement and fails to remedy the breach within 30 days after being notified in writing of the details. Notwithstanding the foregoring, the Licensor may, at its sole discretion and with written notice, suspend or restrict the access of the Licensee to the licensed software if the Licensee fails to meet any material obligation of this Agreement, including (but not restricted to) making license fee payments, and if the Licensee fails to remedy the breach within 15 days after being notified in writing of the details. If either party becomes insolvent, unable to pay debts when due, files for or is subject to bankruptcy or receivership or asset assignment, the other party may terminate this Agreement and immediately cancel any unfulfilled obligations. Any terms in the Agreement which by their nature extend beyond termination or expiration of the Agreement will remain in effect until fulfilled and will apply to both parties' respective successors and permitted assigns. Termination, in accordance with this agreement, shall trigger an immediate payment by Licensee of all pending fees owed for the services rendered until such date.