Common use of Procedure on Termination Clause in Contracts

Procedure on Termination. Upon termination the Licensee shall: (a) deliver a detailed statement to NRC of the inventory of all Products then existing and not Sold by the Licensee as at that date; (b) retain the right to Sell Products then existing and shall pay royalties (but not MAR) to NRC as Products are Sold for a period of one year provided that any remaining inventory of Products shall be destroyed by the License at the end of that year; (c) retain the right to deliver Services for which a contractual commitment has been made before the Termination, for a period of one year, subject to the continued obligation to pay Royalties on the Sales Revenue for those services; and (d) cease any other use of the NRC Technology and the Foreground Technology unless the NRC Technology and the Foreground Technology, in total, has then become part of the public domain other than through any act or omission of the Licensee.