Termination by the Advisor. This Agreement may be terminated immediately by the Advisor in the event of # the bankruptcy of the Company or commencement of any bankruptcy or similar insolvency proceedings of the Company, or # any material breach of this Agreement by the Company not cured by the Company within ten (10) days after written notice thereof.

Termination by the Company. This Agreement may be terminated immediately by the Company upon # any fraudulent conduct, criminal conduct, willful misconduct or the negligent breach of fiduciary duty of or by the Advisor, # a material breach of this Agreement by the Advisor not cured within thirty (30) days after the Advisor receives written notice of such breach, or # an event of the bankruptcy of the Advisor or commencement of any bankruptcy or similar insolvency proceedings of the Advisor. If the Company elects to terminate the Agreement under [Sections 14.02 or 14.03]3], the Company first shall have obtained the approval of a majority of its Independent Directors.