Common use of Termination without Notice Clause in Contracts

Termination without Notice. Licensor may terminate this Agreement immediately without notice to Licensee (i) if Licensee makes an assignment of assets or business for the benefit of creditors, (ii) if a trustee or a receiver is appointed to administer or conduct Licensee’s business or affairs, (ii) if Licensee is adjudged as bankrupt, (iv) if Licensee assigns or sublicenses this Agreement without the express consent of Licensor, (v) if Licensee’s use of the Licensed Marks materially impairs the reputation and goodwill of Licensor, as solely determined by Licensor; or (vi) if Licensee challenges the validity of the Licensed Marks or Licensor’s ownership of the Licensed Marks. Upon termination under this Section 6(a), all rights granted herein shall cease and terminate without prior notice or legal action.

Termination without Notice. Licensor may terminate this Agreement immediately without notice to Licensee (i) if Licensee makes an assignment of assets or business for the benefit of creditors, (ii) if a trustee or a receiver is appointed to administer or conduct Licensee’s business or affairs, (ii) if Licensee is adjudged as bankrupt, (iv) if Licensee assigns or sublicenses this Agreement without the express consent of Licensor, (v) if Licensee’s use of the Licensed Marks materially impairs the reputation and goodwill of LicensorLicen sor, as solely determined by Licensor; or (vi) if Licensee challenges the validity of the Licensed Marks or Licensor’s ownership of the Licensed Marks. Upon termination under this Section 6(a), all rights granted herein shall cease and terminate without prior notice or legal action.