Common use of Termination by Stanford Clause in Contracts

Termination by Stanford. (A) Stanford may also terminate this Agreement if Telomolecular: (1) is delinquent on any report or payment; (2) is not diligently developing and commercializing Licensed Product; (3) misses a milestone described in Appendix A; (4) is in breach of any provision; or (5) provides any false report. (B) Termination under this Section 14.2 will take effect 30 days after written notice by Stanford unless Telornolecular remedies the problem in that 30- day period.