5.
Term and Termination
5.1
Term
. Subject to Section 5.2 below, this Agreement will take effect on the
Effective Date and will remain in force until terminated in accordance
with this Agreement.
5.2
Termination Events
. This Agreement may be terminated immediately
upon written notice by either party under any of the following
conditions:
(a) If the other party has failed to cure a breach of any material term or
condition under the Agreement within thirty (30) days after receipt of
notice from the other party; or
(b) Either party ceases to carry on business as a going concern, either
party becomes the object of the institution of voluntary or
involuntary proceedings in bankruptcy or liquidation, which
proceeding is not dismissed within ninety (90) days, or a receiver is
appointed with respect to a substantial part of its assets.
5.3
Effect of Termination
.
(a) Upon termination of this Agreement, in whole or in part, Customer
shall pay Licensor for all amounts owed up to the effective date of
termination. Termination of this Agreement shall not constitute a
waiver for any amounts due.
(b) The following Sections shall survive the termination of this
Agreement for any reason: Sections 1, 2.2, 2.4, 3, 4, 5.3, and 6.
(c) No later than thirty (30) days after the date of termination of this
Agreement by Licensor, Customer shall upon Licensor's instructions
either return the Software and all copies thereof; all Documentation
relating thereto in its possession that is in tangible form or destroy the
same (including any copies thereof contained on Customer's
Designated Hardware). Customer shall furnish Licensor with a
certificate signed by an executive officer of Customer verifying that
the same has been done.
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