Common use of TERMINATION BY LICENSEE WITH CAUSE Clause in Contracts

TERMINATION BY LICENSEE WITH CAUSE. During the term of this Agreement, Licensee in the exercise of its best business judgment, may determine that it is necessary or advisable to close an Entertainment Store or to otherwise cease operating such Entertainment Store pursuant to the terms of this Agreement. If, and only if, Licensee reasonably determines that with respect to an Entertainment Store it is unprofitable and the expenses of an Entertainment Store exceed the Gross Revenue from such Entertainment Store during any full calendar year in the operation of such Entertainment Store; provided, however, that Licensee shall timely pay all creditors and satisfy all of its debts and liabilities relating to such Entertainment Store prior to closing of such Entertainment Store to the general public. In connection therewith, in the event that Licensee discontinues the operation of an Entertainment Store or causes the operation of an Entertainment Store to be discontinued in accordance with this Section 20, Licensee shall provide Licensor sixty (60) days written notice prior to discontinuing the operation of an Entertainment Store and Licensee shall fully comply with Section 21 hereof. This Agreement (i) shall be automatically terminated (without any further action required by Licensee) upon the expiration of the Term and (ii) may be terminated, subject to any applicable cure period, in Licensee's sole discretion, upon the occurrence of any Default (as defined below).

TERMINATION BY LICENSEE WITH CAUSE. During the term of this Agreement, Licensee in the exercise of its best business judgment, may determine that it is necessary or advisable to close an Entertainment Store or to otherwise cease operating such Entertainment Store pursuant to the terms of this Agreement. If, and only if, Licensee reasonably determines that with respect to an Entertainment Store it is unprofitable and the expenses of an Entertainment Store exceed the Gross Revenue from such Entertainment Store during any full calendar year in the operation of such Entertainment Store; provided, however, that Licensee shall timely pay all creditors and satisfy all of its debts and liabilities relating to such Entertainment Store prior to closing of such Entertainment Store to the general public. In connection therewith, in the event that Licensee discontinues the operation of an Entertainment Store or causes the operation of an Entertainment Store to be discontinued in accordance with this Section 20, Licensee shall provide Licensor sixty (60) [***] days written notice prior to discontinuing the operation of an Entertainment Store and Licensee shall fully comply with Section 21 hereof. This Agreement (i) shall be automatically terminated (without any further action required by Licensee) upon the expiration of the Term and (ii) may be terminated, subject to any applicable cure period, in Licensee's sole discretion, upon the occurrence of any Default (as defined below).