Common use of Cancellation of this Contract Clause in Contracts

Cancellation of this Contract. 4.1 If the technology as the object of research and development is disclosed (including disclosure in the form of patent right) during performance of this contract, any cooperating party shall, within ten (10) days after such cooperating party has learned or should have learned such information, notify the other party for cancellation of this agreement. The other cooperating party shall have the right to ask for compensation for its loss due to failure of such notice within the provided period. 4.2 Party A shall have the right to cancel this agreement if Party B slacks off in performance of its obligations provided hereof or fails within reasonable period to obtain periodical research results satisfying Party A. 4.3 The notice for cancellation of this agreement shall be made in written form and take effect on the day of being served on the opposite party herein through registered letter.

Cancellation of this Contract. 4.1 If the technology as the object of research and development is disclosed (including disclosure in the form of patent right) during performance of this contract, any cooperating party shall, within ten (10) days after such cooperating party has learned or should have learned such information, notify the other party for cancellation of this agreementcontract. The other cooperating party shall have the right to ask for compensation for its loss due to failure of such notice within the provided period. 4.2 Party A shall have the right to cancel this agreement contract if Party B slacks off in performance of its obligations provided hereof or fails within reasonable period to obtain periodical research results satisfying Party A. 4.3 The notice for cancellation of this agreement contract shall be made in written form and take effect on the day of being served on the opposite party herein through registered letter.