Common use of Termination by Merck Clause in Contracts

Termination by Merck. Notwithstanding anything contained herein to the -------------------- contrary, Merck shall have the right to terminate this Agreement at any time in its sole discretion by giving ninety (90) days advance written notice to CytRx. In the event of such termination, the rights and obligations hereunder, including any licenses and any payment obligations not due and owing as of the termination date shall terminate. It is understood that Merck may terminate the Agreement for one or more Targets or HIV while maintaining the Agreement in effect for any Target not terminated (or HIV if not terminated).

Termination by Merck. Notwithstanding anything contained -------------------- herein to the -------------------- contrary, Merck shall have the right to terminate this Agreement at any time in its sole discretion by giving ninety (90) days advance written notice to CytRx. In the event of such termination, the rights and obligations hereunder, including any licenses and any payment obligations not due and owing as of the termination date shall terminate. It is understood that Merck may terminate the Agreement for one or more Targets or HIV while maintaining the Agreement in effect for any Target not terminated (or HIV if not terminated).

Termination by Merck. Notwithstanding anything contained herein to the -------------------- contrary, Merck shall have the right to terminate this Agreement at any time in its sole discretion by giving ninety (90) days advance written notice to CytRx. In the event of such termination, the rights and obligations hereunder, including any licenses and any payment obligations not due and owing as of the termination date shall terminate. It is understood that Merck may terminate the Agreement for one or more Targets or HIV [*****] while maintaining the Agreement in effect for any Target not terminated (or HIV [*****] if not terminated).