TERM AND TERMINATION.
(a) Term. The term of this Agreement (together with any renewals, the "Term") begins on the Effective Date and expires one (1) year [QR-24] later. Immediately
upon expiration this Agreement automatically renews on the same terms
and conditions for additional successive periods of one (1) year on
each anniversary of the Effective Date, unless either party gives the
other party notice that the Agreement does not renew at least thirty
(30) days before the end of the then applicable Term. [QR-18]
(b) Survival. The following captioned sections
survive any termination, expiration or
non-renewal of this Agreement:
"Nondisclosure and Uses" (only for purposes of complying with the
"Return of Confidential Information" provision and only for thirty
(30)
days or such longer period as necessary to comply with the Retention
Requirements, also, if any personnel of a receiving party retains in
their memory any specific contents of a disclosing party's Confidential
Information, such specific contents may not ever be disclosed to any
third parties except under "Disclosures Required by Law"), "Return of
Confidential Information", "Disclosures Required by Law", "Survival"
and "General".
(c) Termination for Insolvency.
If either party is adjudged insolvent or bankrupt, or upon the
institution of any proceedings by it seeking relief, reorganization or
arrangement under any Laws relating to insolvency, or if an involuntary
petition in bankruptcy is filed against a party and the petition is not
discharged within sixty (60) days after filing, or upon any assignment
for the benefit of a party's creditors, or upon the appointment of a
receiver, liquidator or trustee of any of a party's assets, or upon the
liquidation, dissolution or winding up of its business (each, an "Event of Bankruptcy"),
then the party affected by any Event of Bankruptcy must immediately
give notice of the Event of Bankruptcy to the other party, and the
other party may terminate this Agreement by notice to the affected
party.
(d) Termination for Breach.
If either party breaches any provision contained in this Agreement, and
the breach is not cured within thirty (30) days after the breaching
party receives notice of the breach from the non-breaching party, the
non-breaching party may then deliver a second notice to the breaching
party immediately terminating this Agreement.
[QR-17]