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Covenant Default
Covenant Default contract clause examples

Restrictive Covenant. CRISPR shall not exercise any rights granted to it under Section 5.2.2 unless and until [[Organization A:Organization]] is the Granting Party under [Section 9.3.2(a)]. If this Agreement is rejected by or on behalf of [[Organization A:Organization]] pursuant to the U.S. Bankruptcy Code or is repudiated by or on behalf of [[Organization A:Organization]] under the U.S. Bankruptcy Code or other Applicable Laws, it is the intention of the Parties that any exercise of rights hereunder by CRISPR after such a rejection or repudiation will be subject to and in accordance with the U.S. Bankruptcy Code including [Section 365(n)] thereof.

Restrictive Covenants. [[Organization A:Organization]] shall not exercise any rights granted to it under Section 5.1.2 unless and until CRISPR is the Granting Party under [Section 9.3.2(a)]. If this Agreement is rejected by or on behalf of CRISPR pursuant to the U.S. Bankruptcy Code or is repudiated by or on behalf of CRISPR under the U.S. Bankruptcy Code or other Applicable Laws, it is the intention of the Parties that any exercise of rights hereunder by [[Organization A:Organization]] after such a rejection or repudiation will be subject to and in accordance with the U.S. Bankruptcy Code including [Section 365(n)] thereof.

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