Common use of TERM, TERMINATION AND CANCELLATION Clause in Contracts

TERM, TERMINATION AND CANCELLATION. This Agreement shall remain in effect through March 31, 2016 unless terminated earlier by PuriCore for any reason or no reason upon giving thirty (30) days prior written notice. Any outstanding fees for work completed to PuriCore’s satisfaction will be prorated and paid to Inventor within 20 days following the date of termination. PuriCore may withhold payment for any work not satisfactory or not performed in compliance with this Agreement. This Agreement may be terminated immediately should either Party breach a material term hereof. All Services performed under this Agreement shall be subject to PuriCore’s reasonable satisfaction and approval. In the event that PURICORE, at any time in its sole discretion, reasonably determines that the Services performed or any portion thereof is unsatisfactory, it may require Inventor to correct or improve the Services by giving Inventor written notice, specifying the nature of the unsatisfactory performance. Inventor shall promptly thereafter take steps to correct the deficient performance to the reasonable satisfaction of PuriCore. Should Inventor fail to perform to the reasonable satisfaction of PuriCore within fifteen (15) days after receipt of such notice to correct the deficiency, PuriCore shall have the right to terminate the Work Order and any Work Order Services Forms immediately. The Work Order and any Work Order Services Forms may be terminated by PuriCore at any time for any reason or no reason upon giving thirty (30) days prior written notice to Inventor. In the event of termination or expiration of the Work Order and any Work Order Services Forms, all PuriCore property and all PuriCore work in the possession of Inventor shall be forwarded at PuriCore’s reasonable expense to PuriCore and PuriCore shall make payment for Services provided prior to the effective date of expiration or termination; provided, however, that PuriCore shall have no obligation to pay Inventor any fees or expenses that accrued subsequent to (a) a breach of Inventor’s obligations hereunder, (b) the failure of Inventor to perform the Services as contemplated by this Agreement or (c) the commission of fraud upon PuriCore by Inventor.

TERM, TERMINATION AND CANCELLATION. This Agreement shall remain in effect through March 31, 2016 [*] unless terminated earlier by PuriCore for any reason or no reason upon giving thirty (30) days [*] prior written notice. Any outstanding fees for work completed to PuriCore’s satisfaction will be prorated and paid to Inventor within 20 days following the date of termination. PuriCore may withhold payment for any work not satisfactory or not performed in compliance with this Agreement. This Agreement may be terminated immediately should either Party breach a material term hereof. All Services performed under this Agreement shall be subject to PuriCore’s reasonable satisfaction and approval. In the event that PURICORE, at any time in its sole discretion, reasonably determines that the Services performed or any portion thereof is unsatisfactory, it may require Inventor to correct or improve the Services by giving Inventor written notice, specifying the nature of the unsatisfactory performance. Inventor shall promptly thereafter take steps to correct the deficient performance to the reasonable satisfaction of PuriCore. Should Inventor fail to perform to the reasonable satisfaction of PuriCore within fifteen (15) days [*] after receipt of such notice to correct the deficiency, PuriCore shall have the right to terminate the Work Order and any Work Order Services Forms immediately. The Work Order and any Work Order Services Forms may be terminated by PuriCore at any time for any reason or no reason upon giving thirty (30) days [*] prior written notice to Inventor. In the event of termination or expiration of the Work Order and any Work Order Services Forms, all PuriCore property and all PuriCore work in the possession of Inventor shall be forwarded at PuriCore’s reasonable expense to PuriCore and PuriCore shall make payment for Services provided prior to the effective date of expiration or termination; provided, however, that PuriCore shall have no obligation to pay Inventor any fees or expenses that accrued subsequent to (a) a breach of Inventor’s obligations hereunder, (b) the failure of Inventor to perform the Services as contemplated by this Agreement or (c) the commission of fraud upon PuriCore by Inventor.