Common use of Program License Agreement Clause in Contracts

Program License Agreement. The term of this Agreement will commence on the date hereof and run through the date which is the 50th anniversary hereof (the "End Date"); provided, however, that Licensor may sooner terminate this Agreement and the license periods described in Sections 3.1(b), 3.1(c), 3.1(d) and 3.1(e) below in the event: (i) Licensee is in material default of its obligations under this Agreement and such default, if curable, is not cured with thirty (30) days after Licensee has received written notice thereof from Licensor (provided such default is not the result of action or inaction by Licensor as a Member of PTVI; e.g., Licensor's failing to make a mandatory capital contribution); (ii) PEII has terminated the Trademark License Agreement; (iii) VSI is in material default of its obligations under the Operating Agreement and Licensor elects to dissolve PTVI as the result of such default; or (iv) PTVI is in material default of its obligations under the Stock Purchase Agreements (as defined in the Operating Agreement) and such default, if curable, is not cured within thirty (30) days after PTVI has received written notice thereof from Licensor (provided such default is not the result of action or inaction by Licensor as a Member of PTVI).