Common use of Termination Penalty Clause in Contracts

Termination Penalty. Should Licensee terminate this Agreement within two years of the Effective Date, Licensee shall pay Licensor two million five hundred thousand ($2,500,000) dollars in addition to the requirements of section 7 below.

Appears in 12 contracts

Sources: Patent & Technology License Agreement (American Boarding Co), Patent & Technology License Agreement (American Boarding Co), Patent & Technology License Agreement (American Boarding Co)