Common use of TERM, TERMINATION, AND MODIFICATION OF RIGHTS Clause in Contracts

TERM, TERMINATION, AND MODIFICATION OF RIGHTS. 10.1 This Agreement is effective when signed by all parties and shall extend to the expiration of the last to expire of the Aderis Patent(s) unless sooner terminated as provided in this Section 10. 10.2 In the event that Can-▇▇▇▇ is in default in the performance of any material obligations under this Agreement, and if the default has not been remedied within ninety (90) days after the date of notice in writing of such default, Aderis may terminate this Agreement immediately by written notice. 10.3 Can-▇▇▇▇ shall have a unilateral right to terminate this Agreement and/or any licenses in any country of its choice by giving Aderis sixty (60) days' written notice to that effect. 10.4 Within ninety (90) days of termination of this Agreement under this Section 10 or expiration under Section 10.1, a final report shall be submitted by Can-▇▇▇▇. Any Royalty payments due to Aderis shall become immediately due and payable upon termination or expiration. If terminated under this Section 10, sublicensees may elect to convert their sublicenses to direct licenses with Aderis pursuant to Section 3.3.