Termination of the Joint Venture. (b) If the Participants cannot resolve a dispute between them after following the dispute resolution procedures set out in the mediation clause, then any of them may by giving at least 6 months’ notice in writing, terminate this agreement.
Termination of the Joint Venture. Notwithstanding anything to the contrary in this MOU, the Joint Venture and this MOU shall only terminate -
Termination of the Joint Venture. The Parties acknowledge that termination clauses are typical of this type of joint venture, and exit events and remedy mechanisms shall be discussed and agreed in the Investment Documents, without limitations on this type of termination events which may include the following:
Termination of the Joint Venture. 22.1 This Agreement shall be effective from the date hereof and shall remain in full force and effect unless and until terminated in accordance with the provisions of this Agreement.
Termination of the Joint Venture. The following events shall terminate the Joint Venture:
Termination of the Joint Venture. This Agreement shall terminate upon the occurrence of either of the following events:
Termination of the Joint Venture. The Joint Venture shall terminate upon the Termination Date, or on such other earlier date as may be determined by the Manager, in its sole and absolute discretion. The Joint Venturers hereby agree that if the development program does not meet the specifications and milestones set forth in Exhibit B within thirty (30) days of the date set forth for such milestones on Exhibit B hereto, the Joint Venturers shall terminate the Joint Venture. Upon the termination of the Joint Venture, (i) all licenses to Patented Technology and know-how and trade secrets held by ZTI with regards to Z-pod™ technology granted under this Agreement shall automatically terminate as of the effective date of such expiration or termination; (ii) each Joint Venturer shall jointly own all right, title, and interest in and to the JV IP. Each Joint Venturer will have the right, subject to this and applicable law, to make, have made, use, offer to sell, sell, and import JV IP and freely exercise, transfer, assign, license, encumber, and enforce all of its rights in the JV IP without the consent, joinder, or participation of, or payment or accounting, to the other Joint Venturer. Each Joint Venturer hereby unconditionally and irrevocably waives any right it may have under applicable law as a joint owner of the JV IP to require such consent, joinder, participation, payment, or accounting. Each Joint Venturer will, and hereby does, assign, license, and otherwise transfer, and shall cause its affiliates and its and its affiliates' respective representatives to assign, license, and otherwise transfer, to the other Joint Venturer and its permitted successors and assigns, without requirement of additional consideration, all such right, title, and interest in and to the JV IP as is necessary to fully effect the joint ownership thereof as provided in this Section.
Termination of the Joint Venture. (a) If there is an Event of Bankruptcy with respect to either Party, then the other Party may elect either to terminate the Joint Venture (and follow the liquidation procedures set forth in Article 22.3) or to purchase the interest of the Party who had an Event of Bankruptcy for a purchase price equal to the market value of such interest as determined pursuant to subsection (c). Such election shall occur within 60 days after the Event of Bankruptcy unless prohibited by a bankruptcy court or other court of competent jurisdiction; provided that once any such prohibition is no longer applicable, such election shall occur promptly thereafter. The other Party shall provide written notice to the Party who had an Event of Bankruptcy upon the election of the other Party, which notice shall specify the effective date of the action elected by the other Party.
Termination of the Joint Venture. The Joint Venture shall dissolve and its affairs shall be wound up upon the first to occur of the following:
Termination of the Joint Venture. The Joint Venture will stay in effect until all three intended salvage Targets have been salvaged to the fullest extent operationally possible within the project funding capabilities and the distribution of profits have occurred in accordance with section 11.
