Common use of Remedies and Termination Clause in Contracts

Remedies and Termination. If, after notice and expiration of the cure periods and procedures set forth in Sections 7.1 and 7.2, the alleged Event of Default is not cured, the non-defaulting Party shall commence mediation in accordance with Section 7.4 below and if such mediation is unsuccessful, the non-defaulting Party may, at its option, institute legal or judicial reference proceedings pursuant to Section 7.6 of this Development Agreement and/or terminate this Development Agreement pursuant to Section 7.7 herein. In the event that this Development Agreement is terminated pursuant to Section 7.7 herein and litigation or judicial reference is instituted that results in a final decision that such termination was improper, then this Development Agreement shall immediately be reinstated as though it had never been terminated.

Remedies and Termination. If, after notice and expiration of the cure periods and procedures set forth in Sections 7.1 and 7.2this Agreement, the alleged Event of Default is not cured, the non-non- defaulting Party shall commence mediation in accordance with Section 7.4 7.6.4 below and if such mediation is unsuccessful, the non-defaulting Party may, at its option, institute legal or judicial reference proceedings pursuant to Section 7.4 or 7.6 of this Development Agreement and/or terminate this Development Agreement pursuant to Section 7.7 herein. In the event that this Development Agreement is terminated pursuant to Section 7.7 herein and litigation or judicial reference is instituted that results in a final decision that such termination was improper, then this Development Agreement shall immediately be reinstated as though it had never been terminated.