Termination by System Clause Samples

Termination by System. If CERES materially breaches this Agreement, SYSTEM may give CERES written notice of the breach. CERES shall have a period of thirty (30) days from receipt of the notice to cure the breach. If CERES does not cure the breach within this period, SYSTEM may terminate this Agreement by giving written notice of termination with immediate effect.

Termination by System. If LICENSEE defaults in making payments under this Agreement, fails to achieve due diligence requirements specified in Article V, or otherwise materially breaches this Agreement, SYSTEM shall give LICENSEE written notice of the breach. LICENSEE shall have a period of sixty (60) days from receipt of the notice to cure the breach. If LICENSEE does not cure the breach within this period, SYSTEM may terminate this Agreement by giving written notice of its election to do so.

Termination by System. SYSTEM, at its option, may immediately terminate the Agreement, any part of PATENT RIGHTS, or the exclusive nature of the license grant, upon delivery of written notice to LICENSEE of SYSTEM’s decision to terminate, if any of the following occur: (a) LICENSEE becomes in arrears in any payments due under the Agreement, and LICENSEE fails to make the required payment within thirty (30) days after delivery of written notice from SYSTEM; (b) LICENSEE is in breach of any non-payment provision of the Agreement, and does not cure such breach within sixty (60) days after delivery of written notice from SYSTEM; (c) SYSTEM delivers notice to LICENSEE of three or more actual breaches of the Agreement in any twelve (12)-month period, even in the event that LICENSEE cures such breaches in the allowed period; or (d) LICENSEE or LICENSEE’s sublicensee initiates any proceeding or action to challenge the validity, enforceability, or scope of one or more of the PATENT RIGHTS, or assist a third party in pursuing such a proceeding or action.

Termination by System. If INHIBITEX defaults in making payments under this Agreement or otherwise materially breaches this Agreement, SYSTEM may give INHIBITEX written notice of the breach. INHIBITEX shall have a period of sixty (60) days from receipt of the notice to cure the breach. If INHIBITEX does not cure the breach within this period, SYSTEM may terminate this Agreement by giving written notice of its election to do so.

Termination by System. If ORAGENICS materially breaches this Agreement, SYSTEM may give ORAGENICS written notice of the breach. ORAGENICS will have a period of sixty (60) days from receipt of the notice to cure the breach. If ORAGENICS does not cure the breach within this period, SYSTEM may terminate this Agreement without further notice.

Termination by System. If LICENSEE materially breaches this Agreement, VIVAKOR may give LICENSEE written notice of the breach. LICENSEE shall have a period of five (5) days from receipt of the notice to cure the material breach. If LICENSEE does not cure the material breach within this period, VIVAKOR may terminate this Agreement without further notice.