Common use of Client Termination Clause in Contracts

Client Termination. Clients may be terminated from WMed IC Program for: • Non-payment of rent and/or services fees • Violations of lease and/or services agreements • Failure to provide regular updated company information, including quarterly financials • Failure to meet growth objectives and milestones • Inflicting significant damage to the facility • Creating a significant safety or environmental hazard or risk • Carrying on an illegal activity or having a (Client) Company Officer convicted of a felony * WMed IC’s mission is to incubate and accelerate high-technology companies, especially life science companies that require wet-lab space. Should a company be granted admission to the WMed IC, yet lease only office space, the WMed IC reserves the right to decline a lease renewal should a wet lab renting company require lab or office space.