Common use of Term Default and Termination Clause in Contracts

Term Default and Termination. (a) This Agreement is effective from the Effective Date unless and until terminated by either party as provided below. If 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 30 days of the notice, the other party shall have the right to terminate this Agreement. (b) Upon termination of this Agreement, regardless of the cause of termination, the license granted under this Agreement to use the Licensed Software is immediately revoked. Within 10 business days after the termination of this Agreement, for whatever reason, Licensee shall return to Licensor all copies in whole, or in part, of the Licensed Software, updates, upgrades and Documentation in Licensee's possession, including all copies of the Licensed Software, updates, upgrades and Documentation under the supervision and control of Licensee and its Users. In the alternative, upon request of Licensor, Licensee shall destroy all such copies of the Licensed Software, updates, upgrades and Documentation and certify in writing that they have been destroyed. TERMINATION SHALL NOT RELIEVE EITHER PARTY OR LICENSEE’S USERS OF THEIR OBLIGATIONS REGARDING THE CONFIDENTIALITY OF EACH PARTY’S CONFIDENTIAL INFORMATION. If termination occurs as a result of Licensee's failure to comply with any of its obligations under this Agreement, Licensee shall continue to be obligated for any payments due as of the date of termination. Termination of the license shall be in addition to, and not in lieu of, any other remedies available to Licensor. If Licensor is required to initiate legal action to compel return of the Licensed Software or Documentation, Licensee acknowledges and agrees that Licensor shall be entitled to obtain a judicial order granting such possession without the need to post bond as security.

Term Default and Termination. (a) This Agreement is effective from the Effective Date unless and date of its execution until terminated by either party as provided below. If 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 30 thirty (30) days of the notice, the other party shall have the right to terminate this Agreement. (b) Upon termination of this Agreement, regardless of the cause of termination, the license granted under this Agreement to use the Licensed Software is immediately revoked. Within 10 ten (10) business days after the termination of this Agreement, for whatever reason, Licensee shall return to Licensor all copies in whole, or in part, of the Licensed Software, updates, upgrades and/or updates and Documentation in Licensee's possession, including all copies of the Licensed Software, updates, upgrades and/or updates and Documentation under the supervision and control of Licensee and its Authorized 6 Users. In the alternative, upon request of Licensor, Licensee shall destroy all such copies of the Licensed Software, updates, upgrades and Software and/or updates and/or Documentation and certify in writing that they have been destroyed. TERMINATION SHALL NOT RELIEVE EITHER PARTY OR LICENSEE’S LICENSEE AND AUTHORIZED USERS OF THEIR OBLIGATIONS REGARDING THE CONFIDENTIALITY OF EACH PARTY’S THE LICENSED SOFTWARE, UPDATES AND DOCUMENTATION OR LICENSOR OF ITS CONFIDENTIALITY OBLIGATIONS REGARDING CONFIDENTIAL INFORMATIONINFORMATION OF LICENSEE IT RECEIVED. If In the event of termination occurs as a result of Licensee's failure to comply with any of its obligations under this Agreement, Licensee shall continue to be obligated for any payments due as of the date of termination. Termination of the license shall be in addition to, and not in lieu of, any other remedies available to Licensor. If Licensor is required to initiate legal action to compel return of the Licensed Software or Documentation, Licensee acknowledges and agrees that Licensor shall be entitled to obtain a judicial order granting such possession without the need to post bond as security.

Term Default and Termination. (a) A. This Agreement is effective from the Effective Date unless date of its execution and continues until terminated by either party as provided belowherein. If either party defaults in any material obligation in The license granted under this Agreement, the other party shall give Agreement is perpetual. B. The Company may terminate this Agreement by written notice of such to Licensee for default, andas defined in Section 11, if the party in default has not cured the default within 30 days of the notice, the other party shall have the right to terminate this Agreement. (b) Upon and upon such termination of this Agreement, regardless of the cause of termination, the license granted under this Agreement to use the Licensed Software is shall be immediately revoked. Within 10 business ten (10) calendar days after the termination of this Agreement, for whatever reasondefault as defined in Section 11, Licensee shall return to Licensor the Company all copies in whole, or in part, of the Licensed Software, updates, upgrades and/or updates and Documentation in Licensee's possession, including all copies of the Licensed Software, updates, upgrades and/or updates and Documentation under the supervision and control of the Licensee and its Authorized Users. In the alternative, upon written request of Licensorthe Company, Licensee shall destroy all such copies of the Licensed Software, updates, upgrades and Software and/or updates and/or Documentation and certify in writing that they have been destroyed. C. Licensee may terminate this Agreement, and the license provided hereunder, at any time upon prior written notice to the Company. Upon any such termination, Licensee shall forthwith deliver the Licensed Software and all copies thereof, in whatever form, and all documentation and other information relating to the Licensed Software to the Company; however, Licensee will remain obligated to make any payment which by the terms hereof is scheduled to be made after the date of such termination. D. TERMINATION SHALL NOT RELIEVE EITHER PARTY OR LICENSEE’S LICENSEE AND AUTHORIZED USERS OF THEIR OBLIGATIONS REGARDING THE CONFIDENTIALITY OF EACH PARTY’S THE LICENSED SOFTWARE, UPDATES AND DOCUMENTATION, OR EITHER PARTY OF ITS CONFIDENTIALITY OBLIGATIONS REGARDING CONFIDENTIAL INFORMATION. If termination occurs as a result of Licensee's failure to comply with any of its obligations under this Agreement, Licensee shall continue to be obligated for any payments due as of the date of termination. Termination of the license shall be in addition to, and not in lieu of, any other remedies available to Licensor. If Licensor is required to initiate legal action to compel return of the Licensed Software or Documentation, Licensee acknowledges and agrees that Licensor shall be entitled to obtain a judicial order granting such possession without the need to post bond as securityINFORMATION SUCH PARTY HAS RECEIVED.