Common use of Mutual Termination Rights Clause in Contracts

Mutual Termination Rights. Either Party may terminate this Agreement immediately without further action if (A) the other Party files a petition in bankruptcy, or enters into an agreement with its creditors, or applies for or consents to the appointment of a receiver, administrative receiver, trustee or administrator, or makes an assignment for the benefit of creditors, or suffers or permits the entry of any order adjudicating it to be bankrupt or insolvent and such order is not discharged within thirty (30) days, or takes any equivalent or similar action in consequence of debt in any jurisdiction or (B) the other Party materially breaches any of the provisions of this Agreement and such breach is not cured within [* * *] days after the giving of written notice requiring the breach to be remedied; provided, that in the case of a failure of Client to make payments in accordance with the terms of this Agreement, Catalent may terminate this Agreement if such payment breach is not cured within [* * *] days of receipt of written notice of non-payment from Catalent.

Mutual Termination Rights. Either Party party may terminate this Agreement immediately without further action if (A) the other Party party files a petition in bankruptcy, or enters into an agreement with its creditors, or applies for or consents to the appointment of a receiver, administrative receiver, trustee or administrator, or makes an assignment for the benefit of creditors, or suffers or permits the entry of any order adjudicating it to be bankrupt or insolvent and such order is not discharged within thirty (30) days, [***] or takes any equivalent or similar action in consequence of debt in any jurisdiction jurisdiction; or (B) the other Party party materially breaches any of the provisions of this Agreement Agreement, and such breach is not cured within [* * ***] days after the giving of written notice requiring the breach to be remedied; provided, that in the case of a failure of Client Vaccinex to make payments properly invoiced in accordance with the terms of this Agreement, Catalent may terminate this Agreement if such payment breach is not cured (or disputed in good faith) within [* * ***] days of receipt of written notice of non-payment from Catalent.

Mutual Termination Rights. Either Party party may terminate this Agreement immediately without further action if (A) the other Party party files a petition in bankruptcy, or enters into an agreement with its creditors, or applies for or consents to the appointment of a receiver, administrative receiver, trustee or administrator, or makes an assignment for the benefit of creditors, or suffers or permits the entry of any order adjudicating it to be bankrupt or insolvent and such order is not discharged within thirty (30) days[***], or takes any equivalent or similar action in consequence of debt in any jurisdiction or (B) the other Party party materially breaches any of the provisions of this Agreement and such breach is not cured within [* * ***] days after the giving of written notice requiring the breach to be remedied; provided, that in the case of a failure of Client to make payments in accordance with the terms of this Agreement, Catalent may terminate this Agreement if such payment breach is not cured within [* * ***] days of receipt of written notice of non-payment nonpayment from Catalent.

Mutual Termination Rights. Either Party may terminate this Agreement immediately without further action if (Ai) the other Party files a petition in bankruptcy, or enters into an agreement with its creditors, or applies for or consents to the appointment of a receiver, administrative receiver, trustee or administrator, or makes an assignment for the benefit of creditors, or suffers or permits the entry of any order adjudicating it to be bankrupt or insolvent and such order is not discharged within thirty (30) days[***], or takes any equivalent or similar action in consequence of debt in any jurisdiction jurisdiction; or (Bii) the other Party materially breaches any of the provisions of this Agreement Agreement, and such breach is not cured within [* * ***] days after the giving of written notice requiring the breach to be remedied; provided, that in the case of a failure of Client Vir to make payments in accordance with the terms of this Agreement, Catalent Biogen may terminate this Agreement if such payment breach is not cured within [* * ***] days of receipt of written notice of non-payment from CatalentBiogen.