Licensee's Option to Terminate Sample Clauses

The "Licensee's Option to Terminate" clause grants the licensee the explicit right to end the licensing agreement before its scheduled expiration. Typically, this clause outlines the conditions under which the licensee may exercise this option, such as providing advance written notice or meeting certain requirements like payment of a termination fee. Its core practical function is to provide flexibility for the licensee, allowing them to exit the agreement if their business needs change or if the arrangement is no longer beneficial, thereby reducing long-term risk and commitment.
Licensee's Option to Terminate. Licensee shall have the right to terminate this Agreement at any time if necessary and in the public interest in order to fulfill its obligations as an FCC licensee if Programmer materially violates FCC rules, regulations or policies.
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Licensee's Option to Terminate. Licensee shall have the right to terminate this Agreement immediately upon written notice in the event: (i) that Licensor shall generally not pay its debts as such debts become due, makes an assignment for the benefit of creditors, a trustee or receiver or the foreign equivalent is appointed for a material part of Licensor’s assets, or a proceeding in bankruptcy is instituted against Licensor which is acquiesced in, is not dismissed within 120 days, or results in an adjudication of bankruptcy of Licensor; (ii) that Licensor commits a breach of any of its material obligations, covenants or agreements under this Agreement (including but not limited to Section 9.1) that is not cured pursuant to Section 7.3; (iii) that there occurs the entry of any order, judgment or decree in any proceedings against Licensor decreeing the dissolution of Licensor, which order, judgment or decree remains unstayed and in effect for more than thirty (30) days; (iv) that there is a Change of Control of Licensor that results in Licensor being Controlled by a Competitor of Licensee; (v) that any Termination Event (as defined in the Stockholders Agreement) set forth in clauses (a) through (c) below occurs. All terms not defined in clauses (a) through (c) below shall have the meanings set forth in the Stockholders Agreement. (a) the date on which Licensor Beneficially Owns Voting Securities representing 4.17% or less of the Total Voting Power; (b) the consummation by a Third Party of a bona fide tender or exchange offer for not less than 25% of the outstanding shares of Common Stock; or (c) the consummation by the Board of a Takeover Proposal from a Third Party; or (vi) the Name becomes materially damaged or tarnished based on any action or use by Licensor, the determination of which shall be made by a neutral third-party arbitrator to be agreed upon by Licensor and Licensee.
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Related to Licensee's Option to Terminate

  • Option to Terminate The Client and Contractor shall: (check one)

  • Election to Terminate If such condition or default continues for thirty (30) days after delivery of such notice, the non-breaching party may sue to enforce the terms of this Lease or may give notice of its election to terminate this Lease. Twenty (20) days after such termination notice, this Lease shall cease and terminate.

  • OPTION TO TERMINATE AGREEMENT In the event that any payment otherwise due from the Applicant to the District under Article IV, Article V, or Article VI of this Agreement with respect to a Tax Year is subject to reduction in accordance with the provisions of Section 7.1, then the Applicant shall have the option to terminate this Agreement. The Applicant may exercise such option to terminate this Agreement by notifying the District of its election in writing not later than the July 31 of the year following the Tax Year with respect to which a reduction under Section 7.1 is applicable. Any termination of this Agreement under the foregoing provisions of this Section 7.2 shall be effective immediately prior to the second Tax Year next following the Tax Year in which the reduction giving rise to the option occurred.

  • Licensee’s Right to Terminate Licensee may, at its option, without prejudice to any other remedies it may have, terminate this agreement by giving written notice of such termination to Licensor as follows: (a) immediately, in the event that Licensor abandons the Licensed Marks or otherwise ceases to support the Licensed Marks in Licensor's business; or (b) immediately in the event of the occurrence of a Bankruptcy with respect to Licensor; or (c) immediately in the event of an occurrence of termination pursuant to Section 13.2(d).

  • Tenant’s Right to Terminate Tenant shall have the right to terminate this Lease following a Casualty if any of the following occurs: (i) Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that the Premises cannot, with reasonable diligence, be repaired by Landlord to a substantially similar condition as existed prior to such Casualty (or cannot be safely repaired because of the presence of hazardous factors, including, but not limited to, Hazardous Materials, earthquake faults and other similar dangers) within 360 days after the date of such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises, or (ii) the Premises is destroyed or materially damaged during the last twelve (12) months of the Lease Term and Landlord’s Architect determines (which determination shall be made and forwarded to Tenant promptly after such Casualty) that such damage will require more than sixty (60) days to repair, or (iii) the Premises are not actually repaired by Landlord to a substantially similar condition as existed prior to such Casualty within 380 days following such Casualty and the Casualty materially adversely impacts Tenant’s use of a material portion of the Premises. If Tenant elects to terminate this Lease following a Casualty pursuant to this Section 7.3, Tenant shall give Landlord written notice of its election to terminate within thirty (30) days after receipt of Landlord’s Architect’s determination (or within 30 days of the applicable restoration period should Landlord fail to complete repairs during such period), and this Lease shall terminate as of the date of such notice of election to terminate.