Patent Cross License Agreement - Advanced Micro Devices Inc. and Intel Corp.
(a) A party may terminate the other party's rights and licenses
hereunder upon notice if the other party hereto commits a
material breach of this Agreement and does not correct such
breach within sixty (60) days after receiving written notice
complaining thereof. In the event of such termination, the
rights and licenses granted to the defaulting party shall
terminate, but the rights and licenses granted to the party
not in default shall survive such termination of this
Agreement subject to its continued compliance with the terms
and conditions of this Agreement.
(b) A party hereto may terminate this Agreement upon sixty (60)
days written notice of termination to the other party given at
any time upon or after:
(1) the filing by the other party of a petition in
bankruptcy or insolvency;
(2) any adjudication that the other party is bankrupt or
(3) the filing by the other party of any petition or answer
seeking reorganization, readjustment or arrangement of
its business under any law relating to bankruptcy or
(4) the appointment of a receiver for all or substantially
all of the property of the other party;
(5) the making by the other party of any assignment for the
benefit of creditors;
(6) the institution of any proceedings for the liquidation
or winding up of the other party's business or for the
termination of its corporate charter;
(7) the other party undergoes a Change of Control. For
purposes of this Section 6.2(b)(7), "Change of Control"
shall mean a transaction or a series of related
transactions in which (i) one or more related parties
who did not previously own at least a fifty percent
(50%) interest in a party to this Agreement obtain at
least a fifty percent (50%) interest in such party, and,
in the reasonable business judgment of the other party
to this Agreement, such change in ownership will have a
material effect on the other party's business, or (ii) a
party acquires, by merger, acquisition of assets or
otherwise, all or any portion of another legal entity
such that either the assets or market value of such
party after the close of such transaction are greater
than one and one third (1 1/3) of the assets or market
value of such party prior to such transaction.
Sentiment: Strong Sell
This is very important to make sure any potential "investor" in AMD understands.
This, along with a host of other already posted facts about AMD and its competitors, are yet one more reason why I am so glad I don't invest in this garbage.