Termination for Cause

Termination for Cause


Either party may terminate this Agreement for the other’s material breach by written notice, effective in 30 days unless the other party first cures such breach.

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Either party may terminate this Agreement for the other’s material breach on 30 days’ written notice, unless the other party cures such breach before the effective date of termination; provided

termination will become effective immediately upon such notice, without opportunity to cure, if: (a) this Agreement provides that “times is of the essence” with regard to the performance subject to the breach; or (b) the injury caused by the breach cannot be remedied by performance after notice of termination.

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Either party may terminate this Agreement for cause by written notice, without opportunity to cure, in the event that: (a) the other party fails to function as a going concern; (b) a receiver, trustee, or other custodian for the other party or its assets is appointed, applied for, or consented to; (c) the other party becomes insolvent or unable to pay its debts as they mature in the ordinary course; (d) the other party makes an assignment for the benefit of creditors; (e) the other party is liquidated or dissolved; or (f) any proceedings are commenced by or against the other party under any bankruptcy, insolvency, or debtor’s relief law and not dismissed within 60 days.