Common use of Notwithstanding Section 7 Clause in Contracts

Notwithstanding Section 7. 1.1, Cinapsys may terminate this Agreement immediately if (a) Company fails to make when due any payments to Cinapsys under this Agreement; (b) if Cinapsys determines, in its sole discretion, that Company has failed to provide complete and accurate information necessary for Cinapsys to perform the Services, or that Company is acting or has acted in a manner that damages or could potentially damage Cinapsys' reputation in the business community, or (c) if Company (i) becomes insolvent; (ii) fails to pay its debts or perform its obligations in the ordinary course of business as they mature; (iii) is declared insolvent or admits in writing its insolvency or inability to pay its debts or perform its [CINAPSYS LOGO] obligations as they mature; (iv) becomes the subject of any voluntary or involuntary investigation or proceeding in bankruptcy, liquidation, dissolution, receivership, SEC inquiry, attachment or composition or general assignment for the benefit of creditors, provided that, in the case of an involuntary proceeding, the proceeding is not dismissed with prejudice within sixty (60) days after the institution thereof; or (v) becomes delinquent in its reporting (adds an `e' to the symbol) or violates any public listing requirements. If Cinapsys terminates this Agreement in accordance with this Section 7.1.2, then the license granted to Company pursuant to Section 3 shall immediately terminate.

Notwithstanding Section 7. 1.1, Cinapsys may terminate this Agreement immediately if (a) Company fails to make when due any payments to Cinapsys under this Agreement; (b) if Cinapsys determines, in its sole discretion, that Company has failed to provide complete and accurate information necessary for Cinapsys to perform the Services, or that Company is acting or has acted in a manner that damages or could potentially damage Cinapsys' reputation in the business community, or (c) if Company (i) becomes insolvent; (ii) fails to pay its debts or perform its obligations in the ordinary course of business as they mature; (iii) is declared insolvent or admits in writing its insolvency or inability to pay its debts or perform its [CINAPSYS LOGO] obligations as they mature; (iv) becomes the subject of any voluntary or involuntary investigation or proceeding in bankruptcy, liquidation, dissolution, receivership, SEC inquiry, attachment or composition or general assignment for the benefit of creditors, provided that, in the case of an involuntary proceeding, the proceeding is not dismissed with prejudice within sixty (60) days after the institution thereof; or (v) becomes delinquent in the subject of a Federal, SEC or NASD investigation into its reporting (adds an `e' to the symbol) business practices, accounting or violates any public listing requirementsofficers and directors. If Cinapsys terminates this Agreement in accordance with this Section 7.1.2, then the license granted to Company pursuant to Section SECTION 3 shall immediately terminate.