Common use of Term Default and Termination Clause in Contracts

Term Default and Termination. (a) This Agreement comes into effect on the date of its execution and shall continue in force and effect for the term as stated in the Order. (b) A party may terminate this Agreement for cause: (i) upon 30 days written notice to the other party of a material breach of this Agreement if such breach remains uncured at the expiration of such period; (ii) immediately upon written notice if the other party becomes the subject of a bankruptcy, insolvency, receivership, liquidation, assignment for the benefit of creditors or similar proceeding; and (iii) as otherwise provided herein. (c) Upon termination of this Agreement, regardless of the cause of termination, the rights granted under this Agreement to use the ▇▇▇▇▇▇▇▇▇ Materials are immediately revoked. Within five (5) business days after the termination of this Agreement, for whatever reason, Customer shall return to ▇▇▇▇▇▇▇▇▇ all copies of the ▇▇▇▇▇▇▇▇▇ Materials in Customer’s possession or under the supervision or control of Authorised Users. In the alternative, upon request of ▇▇▇▇▇▇▇▇▇, Customer shall destroy all such copies of the ▇▇▇▇▇▇▇▇▇ Materials and certify in writing that they have been destroyed. TERMINATION SHALL NOT RELIEVE CUSTOMER AND AUTHORISED USERS OF THEIR OBLIGATIONS REGARDING THE CONFIDENTIALITY OF THE ▇▇▇▇▇▇▇▇▇ MATERIALS. In the event of termination as a result of Customer’s failure to comply with any of its obligations under this Agreement, Customer shall continue to be obligated for any payments due as of the date of termination. Termination of the right to use the ▇▇▇▇▇▇▇▇▇ Materials shall be in addition to, and not in lieu of, any other remedies available to ▇▇▇▇▇▇▇▇▇. (d) Any provision of this Agreement that expressly or by implication is intended to come into or continue force on or after termination or expiry of this Agreement shall remain in full force and effect.

Term Default and Termination. (a) This Agreement comes into effect on the date of its execution and shall continue in force and effect for the term as stated in the Order. (b) A party may terminate this Agreement for cause: (i) upon 30 days written notice to the other party of a material breach of this Agreement if such breach remains uncured at the expiration of such period; (ii) immediately upon written notice if the other party becomes the subject of a bankruptcy, insolvency, receivership, liquidation, assignment for the benefit of creditors or similar proceeding; and (iii) as otherwise provided herein. (c) Upon termination of this Agreement, regardless of the cause of termination, the rights granted under this Agreement to use the ▇▇▇▇▇▇▇▇▇ Materials are immediately revoked. Within five (5) business days after the termination of this Agreement, for whatever reason, Customer shall return to ▇▇▇▇▇▇▇▇▇ Lightfoot all copies of the ▇▇▇▇▇▇▇▇▇ Materials in Customer’s possession or under the supervision or control of Authorised Users. In the alternative, upon request of ▇▇▇▇▇▇▇▇▇, Customer shall destroy all such copies of the ▇▇▇▇▇▇▇▇▇ Materials and certify in writing that they have been destroyed. TERMINATION SHALL NOT RELIEVE CUSTOMER AND AUTHORISED USERS OF THEIR OBLIGATIONS REGARDING THE CONFIDENTIALITY OF THE ▇▇▇▇▇▇▇▇▇ MATERIALS. In the event of termination as a result of Customer’s failure to comply with any of its obligations under this Agreement, Customer shall continue to be obligated for any payments due as of the date of termination. Termination of the right to use the ▇▇▇▇▇▇▇▇▇ Materials shall be in addition to, and not in lieu of, any other remedies available to ▇▇▇▇▇▇▇▇▇. (d) Any provision of this Agreement that expressly or by implication is intended to come into or continue force on or after termination or expiry of this Agreement shall remain in full force and effect.

Term Default and Termination. (a) This The term of this Agreement comes into effect on shall commence upon the date of its execution Effective Date and shall continue in force and effect for the term as stated Subscription Term set out in the OrderCover Sheet, subject to earlier termination as provided in this Agreement. (b) A party Precision may terminate this Agreement for cause: (i) upon 30 days by written notice to Customer if Customer breaches any of Sections 2(a), 2(d), or 4(b), effective from the other party date of a material breach of this Agreement if such breach remains uncured at the expiration of such period; (ii) immediately upon written notice if the other party becomes the subject of a bankruptcy, insolvency, receivership, liquidation, assignment for the benefit of creditors or similar proceeding; and (iii) as otherwise provided hereinnotice. (c) In the event either party defaults in any material obligation in this Agreement, the other party shall give written notice of such default, and, if the party in default has not cured the default within five (5) days after the notice, the other party shall have the right to terminate this Agreement. Customer’s failure to pay all amounts due under this Agreement shall constitute a default of its material obligations. (d) Upon termination of this Agreement, regardless of the cause of terminationcause, the rights licenses granted under this Agreement to use the ▇▇▇▇▇▇▇▇▇ Materials are immediately revoked. Within five ten (510) business days after the termination of this Agreement, for whatever reason(i) each party shall return the Confidential Information of the other party to the other party, (ii) without limiting the foregoing, Customer shall shall, at Precision’s direction, return to ▇▇▇▇▇▇▇▇▇ Precision or destroy all copies of the ▇▇▇▇▇▇▇▇▇ Materials Licensed Software and Documentation in Customer’s possession or under possession, and (iii) each party will deliver a certificate of an officer of that party certifying that the supervision or control of Authorised Userssame has been completed. In the alternative, upon request of ▇▇▇▇▇▇▇▇▇, Customer shall destroy all such copies of the ▇▇▇▇▇▇▇▇▇ Materials and certify in writing that they have been destroyed. TERMINATION SHALL NOT RELIEVE CUSTOMER AND AUTHORISED USERS OF THEIR OBLIGATIONS REGARDING THE CONFIDENTIALITY OF THE ▇▇▇▇▇▇▇▇▇ MATERIALS. In the event of termination as a result of Customer’s failure to comply with any of its obligations under this Agreement, Customer shall continue to be obligated for any payments due as of the date of termination. Termination of the right to use the ▇▇▇▇▇▇▇▇▇ Materials Agreement shall be in addition to, and not in lieu of, any other remedies available to ▇▇▇▇▇▇▇▇▇either party. (de) Any provision of this Agreement that expressly or by implication is intended to come into or continue force on or after Neither expiration nor any termination or expiry of this Agreement shall relieve either Party of any obligation or liability accruing prior to such expiration or termination. In addition, Sections 1, 4(a), , 6(a), 6(b), 6(c), 6(d), 7, 9 and such terms as by their nature would reasonably be expected to remain in full force and effectshall survive expiration or termination of this Agreement.