Common use of Termination for Change of Control Clause in Contracts

Termination for Change of Control. This Section does not apply if the Applicant is a Post-secondary Institution, the Alberta Centre for Advanced MNP Products (ACAMP), a municipality, or part of the Government of Canada or Government of Alberta Including any ministry, department, agency, or Crown corporation. For all other Applicants, if the Applicant undergoes a Change of Control, Alberta Innovates may Elect to terminate this Investment Agreement effective immediately upon providing Notice to the Applicant. For clarity, Alberta Innovates may Elect not to terminate this Investment Agreement in the case of a Change of Control if the Applicant continues to satisfy the Program Eligibility Requirements and continues to bear all of its duties and obligations under the Investment Agreement.