Example (1): Early termination
(1) This Agreement may be terminated at any time, by either party, if the other party default in the performance o any of Its substantial undertakings in this Agreement and in each case if such default has not been remedied to the reasonable satisfaction of the non-defaulting party within ninety (90) days after written notice of such default has been given to the defaulting party.
(2) The defaulting party shall compensate the non-defaulting party for damages caused by the default in accordance with the section (1) above.
Example (2): Cancellation
1) In case there is any breach of contract under this Agreement by either party during the life of this Agreement, the other party shall give … days notice requesting such party to correct the breach. If the breach is not corrected or settlement is not reached within ….days after the notification in writing of the other party, such other party shall have the right to cancel this Agreement by written notice of cancellation thereafter and loss and damages sustained thereby shall be indemnified by the other party responsible for the breach.
2) Licensor may terminate this Agreement in case proceedings in insolvency or bankruptcy are instituted by or against Licensee or receiver for Licensee is appointed or in case there is change in the control or management of Licensee which is unacceptable to Licensor, provided, however, that such termination shall not constitute a waiver of the right of either party to any sum due and payable by the other party at the time of such termination.
3) Licensee shall have an option to terminate this Agreement if all Patents are declared invalid by the competent authority which has a Jurisdiction over Patents in Territory or If any third party commences manufacture and sale of products which have the same characters in substantial parts of specifications as Products have.