Common use of Termination of the Clause in Contracts

Termination of the. Agreement In addition to the conditions of outlined under this document, the Direct Access Agreement may be terminated as follows: 1. By mutual agreement of the Parties; or 2. By one of the Parties, with immediate effect, when the other Party is in material breach of the Agreement and does not or is not capable of remedying such breach within sixty (60) days of receipt of a written notice to such effect; or 3. By one of the Parties, with immediate effect, if the other Party becomes bankrupt or insolvent or if that other Party enters into any composition or arrangement with its creditors and that other Party is not able to ensure performance of its obligations under the Agreement by a guarantee from a first-class bank, payable on first written demand; or 4. Immediately in the event a final order by the relevant governmental authority revoking or denying renewal of the license(s) or permission to operate respective Party’s business that is required under this Agreement. In the event of termination of this Agreement, the following will apply: (a) Each Party shall pay to the other any undisputed outstanding invoices and other payments due to them in connection with this Agreement, and (b) Each Party shall use its best endeavors to cease the provision of IR Services as soon as reasonably practicable, (c) All rights and obligations of the Parties in connection with this Agreement will immediately cease to have effect, except that termination will not affect: • any of their respective accrued rights and obligations at the date of termination; and • any rights and obligations that expressly or by implication are intended to come into or continue in force including Articles 3 (Definitions and Interpretation), 10 (Confidentiality), 13 (Liability), 17 (Termination), 18 (Intellectual Property Rights), 20.4 (Severability) 20.8 (Entire Agreement), 20.12 (Survival) and 21 (Governing Law). Intellectual Property Rights Nothing in the Direct Access Agreement shall be deemed or construed as a transfer of title or ownership nor as the granting of any license, right to use and/or as giving rise to any encumbrance of any kind with regard to either Party’s Intellectual Property Rights.

Termination of the. Agreement In addition to the conditions of outlined under this document, the Direct Access Agreement may be terminated as follows: 1. By mutual agreement of the Parties; or 2. By one of the Parties, with immediate effect, when the other Party is in material breach of the Agreement and does not or is not capable of remedying such breach within sixty (606 ) days of receipt of a written notice to such effect; or 3. By one of the Parties, with immediate effect, if the other Party becomes bankrupt or insolvent or if that other Party enters into any composition or arrangement with its creditors and that th t other Party is not able to ensure performance of its obligations under the Agreement by a guarantee from a first-first class bank, payable on first written demand; or 4. Immediately in the event a final order or er by the relevant governmental authority revoking or denying renewal of the license(s) or permission to operate respective Party’s business that is required under this Agreement. In the event of termination of this Agreement, the following will apply: (a) Each Party shall pay to the other any undisputed outstanding invoices and other payments due to them in connection with this Agreement, and (b) Each Party shall use its best endeavors endeavours to cease the provision of IR Services as soon as reasonably re sonably practicable, (c) All rights and obligations of the Parties in connection with this Agreement will immediately cease to have effect, except that termination will not affect: • any of their respective accrued rights and obligations at the date of termination; and nd • any rights and obligations that expressly or by implication are intended to come into or continue in force including Articles 3 (Definitions and Interpretation), 10 (Confidentiality), 13 (Liability), 17 (Termination), 18 (Intellectual Property Rights), 20.4 (Severability) 20.8 (Entire Agreement), 20.12 (Survival) and 21 (Governing Law). Intellectual Property Rights Nothing in the Direct Access Agreement shall be deemed or construed as a transfer of title or ownership nor as the granting of any license, right to use and/or as giving rise to any encumbrance of any kind with regard to either Party’s Intellectual Property Rights.