Common use of Term and Termination Suspension Clause in Contracts

Term and Termination Suspension. The term for each Cloud Service (“Term”) is: (i) the time period specified in the Order, commencing on the date of availability or (ii) for Cloud Services provided on a transaction basis, the Term shall be the validity period for processing the transactions and any renewal terms in the Schedule(s), as applicable, unless specifically stated in the Order. Either party has the right to terminate this Addendum and any and/or all rights granted under this Addendum upon written notice to the other party if the other party: (a) is in default of any obligation hereunder which default is incapable of being cured, or which, being capable of being cured, has not been cured within thirty (30) days after receipt of written notice of such default; or (b) becomes insolvent, makes a general assignment for the benefit of creditors, suffers or permits the appointment of a receiver for its business or assets, becomes subject to any proceeding under any bankruptcy or insolvency law whether domestic or foreign, or has been liquidated, voluntarily or otherwise. Immediately upon termination, the licenses granted hereunder and rights to use shall terminate, and Customer must stop using the Cloud Service. Within five (5) days after termination, Customer will de-install associated Software and all copies thereof and (a) return to Informatica the Software in the form provided by Informatica and all copies in whole or in part made by Customer; or (b) upon request by Informatica destroy the Software and all copies, and certify in writing that they have been destroyed. If Customer terminates the Agreement, Customer still must pay all fees accruing prior to termination.