Licensee Termination Right Clause Samples
The Licensee Termination Right clause grants the licensee the ability to end the licensing agreement under specified conditions. Typically, this right may be exercised if the licensor breaches a material term, fails to deliver required support, or if certain events such as insolvency occur. By providing a clear mechanism for the licensee to exit the agreement, this clause protects the licensee from being bound to unfavorable or unworkable terms, ensuring flexibility and risk mitigation.
Licensee Termination Right. If material lead or asbestos is found that was not disclosed by HOST to LICENSEE before the Effective Date, the Parties agree that LICENSEE shall be responsible for such remediation and the Parties agree to a corresponding adjustment to the price of Electricity sold by CONTRACTOR to HOST under the SPPA. If the Parties agree to either option under the preceding sentence, then the milestone dates set forth for design and construction in Exhibit F, shall be adjusted for the time required by LICENSEE to complete the remediation.
Licensee Termination Right. Termination of this Agreement may be exercised by Licensee at any time on 30 days’ prior notice without further liability if Licensee cannot obtain all necessary rights, postponements and approvals required from any governmental authority and/or any third party to operate the telecommunications facility on conditions satisfactory to Licensee, or if any such right or approval expires, or is cancelled or terminated, or if for any other reason (e.g., interference with Licensee’s signals, damage or destruction, site decommissioning) Licensee determines, in its discretion, that it will no longer use the Licensed Area or license rights for any of their intended purposes. Upon termination of this Agreement, all prepaid License Fees shall be adjusted to theeffective date of termination.
Licensee Termination Right. Licensee may terminate this Agreement at any time by providing Licensor with five (5) days prior written notice.
Licensee Termination Right. LICENSEE shall have the right to terminate this Agreement for convenience upon at least ninety (90) days’ prior written notice, effective as of one (1) year after the Effective Date.
Licensee Termination Right. If NGP notifies Licensee that it has licensed the NG Marks for or intends to directly operate Expedition Cruises in the 295-530 Passenger Segment, Licensee will have the right to terminate this Agreement as set forth in Section 29.7 (Special Licensee Termination Rights) below.
Licensee Termination Right. Licensee shall have the right to terminate this Agreement for convenience at any time upon sixty (60) days prior written notice to Licensor. Following such termination, neither Licensee nor its sublicensees shall have any rights to distribute, manufacture, sell or otherwise distribute any CTV-05 Products in the Field.
Licensee Termination Right. Licensee shall have the right to terminate this Agreement upon written notice to Licensor and the Administrative Agent at any time upon the occurrence of the Final Payout Date under the Loan and Security Agreement; provided that termination of this Agreement by Licensee pursuant to this Section 5.3 shall not affect any rights and obligations of the Parties that may have accrued prior to such termination, or as a result of such termination, or that expressly survive termination pursuant to the terms of this Agreement. Licensee shall not otherwise have any right to terminate this Agreement under Article 5.
Licensee Termination Right. Licensee may terminate this Agreement at any time by providing written notice to Licensor specifying an effective date of termination that is not less than 30 days after the date of the notice and paying Licensor, not later than the specified effective date of termination, a lump sum amount in cash equal to all remaining payments of the license fee under Section 5.01 that would be required to be made to Licensor for the balance of the initial five year period comprising the Term, discounted to present value as of the date of payment at the annual rate of 10%.