Common use of ADDITIONAL TERMINATION Clause in Contracts

ADDITIONAL TERMINATION. 13.3.1 The Agreement may be terminated (a) without notice and compensation by the mutual written agreement of the Parties; (b) by MacroCure upon ten (10) days written notice if the FDA does not approve the Clinical Trial; (c) by MacroCure at anytime upon sixty (60) days written notice (“Termination for Convenience”). 13.3.2 The Agreement shall automatically terminate without compensation, unless the Party which has not caused or is not the subject of the event waives the termination, in the event: (a) a Party has filed a voluntary petition in bankruptcy, takes the benefit of any insolvency act, is dissolved or adjudicated a bankrupt; upon the entry of a decree or order by a court having jurisdiction approving a petition with respect to a Party seeking reorganization, arrangement, adjustment, or composition under any applicable federal or state bankruptcy, insolvency or similar law and such decree and order is not removed within thirty (30) days; upon the written admission by a Party of its inability to pay its debts generally as they become due; the taking of any corporate action by a Party in furtherance of any of the foregoing actions—each, effective immediately upon receipt of notice termination (provided, that if applicable, the thirty (30) days period referred to above has elapsed). (b) The appointment of receiver, liquidator, assignee, trustee, sequestrator or similar official for all or substantially all of the business or assets of a Party, which shall not have been removed within thirty (30) days, effective immediately upon receipt of notice termination following such thirty (30) days period. In the event that either Party enters into proceedings relating to bankruptcy, whether voluntary or involuntary, the Party that so enters into such proceedings must furnish the other Party, by certified mail, written notification of the bankruptcy. The notification must be furnished within five (5) business days of the initiation of the bankruptcy proceedings. Such notification must include the date on which the petition was filed, and a list of contracts for which final payments have not been made.

ADDITIONAL TERMINATION. 13.3.1 The This Agreement may be terminated terminated by a party (a) without notice and compensation by the mutual written agreement "Affected Party"), upon the occurrence of any of the Parties; (b) by MacroCure upon ten (10) days written notice if the FDA does not approve the Clinical Trial; (c) by MacroCure at anytime upon sixty (60) days written notice (“Termination for Convenience”). 13.3.2 The Agreement shall automatically terminate without compensation, unless the Party which has not caused or is not the subject of the event waives the termination, in the event: (a) a Party has filed a voluntary petition in bankruptcy, takes the benefit of any insolvency act, is dissolved or adjudicated a bankrupt; upon the entry of a decree or order by a court having jurisdiction approving a petition following with respect to a the other party (the "Other Party"): (i) the Other Party seeking reorganizationshall become insolvent, arrangement, adjustment, or composition under any applicable federal or state bankruptcy, insolvency or similar law and such decree and order is not removed within thirty (30) days; upon the written admission by a Party of shall admit in writing its inability to pay its debts generally as they become when due; , shall make a transfer in fraud of its creditors, or all or substantially all of its assets or its interest in this Agreement are levied on by execution or other legal process, (ii) the taking of Other Party shall file a petition under any corporate action by a Party in furtherance of any section or chapter of the foregoing actions—eachU.S. Bankruptcy Code, effective immediately upon receipt of notice termination (providedas amended, that if applicableor under any similar federal or state law or statute, the thirty (30) days period referred to above has elapsed). (b) The appointment of receiveror shall be adjudged bankrupt or insolvent in proceedings filed against it, liquidator, assignee, trustee, sequestrator or similar official a receiver or trustee shall be appointed for all or substantially all of the business its assets and such receivership or assets of a Party, which bankruptcy shall not have been removed be dismissed within thirty sixty (30) days, effective immediately upon receipt of notice termination following such thirty (3060) days periodfrom the appointment of the receiver or trustee; (iii) the Other Party or any officer, director, or principal of the Other Party is convicted in a court of competent jurisdiction of any offenses substantially related to the specific business the subject of this Agreement; (iv) the Trademark License Agreement terminates for any reason; or (v) the Other Party intentionally falsifies any records or reports required hereunder. In This Agreement may be terminated by EchoStar if MDU Dealer, for more than twenty (20) consecutive days following written notice from EchoStar, fails to maintain operations as a going business. Further, in the event that either Party enters into proceedings relating of an occurrence by MDU Dealer described in clause (ii) above and until such occurrence is cured or the Agreement is terminated, EchoStar shall have the right to bankruptcycondition any further EchoStar performance under this Agreement on MDU Dealer providing EchoStar with a security deposit in good funds, whether voluntary in an amount equal to the average net Programming charges due by MDU Dealer for the prior six months, to be used to pay any delinquent Programming charges due by MDU Dealer hereunder, payment in advance for all DISH DBS Systems or involuntaryother equipment ordered, the Party that so enters into such proceedings must furnish the other Party, by certified mail, written notification payment in full of the bankruptcy. The notification must be furnished within five (5) business days of the initiation of the bankruptcy proceedings. Such notification must include the date on which the petition was filedall outstanding invoices, and a list of contracts for which final payments have not been madesuch other reasonable security under the circumstances.