6.0 TERM AND OBLIGATIONS UPON TERMINATION:
6.1. This Agreement shall be in effect upon the date last executed herein, and shall continue thereafter until terminated by either party, for any reason whatsoever and with no liability arising there from, upon at least ninety (90) day’s prior written notice.
6.2. However, should either party breach any provision of this Agreement and fail to remedy such breach within thirty (30) days of written notice thereof, the injured party may terminate this Agreement immediately.
6.3. Further, either party may terminate this Agreement immediately if the other party becomes insolvent, admits in writing its inability to pay its debts as they mature, makes an assignment for the benefit of creditors, files or has filed against it by a third party any petition under any Bankruptcy Act, or an application for a receiver of the other party is made by anyone and such petition or application is not resolved in favour of the other party within sixty (60) days.
6.4. In the event TTNI terminates this Agreement pursuant to paragraph 6.1 above, Distributor may, at its option, return to TTNI any Licensed Product acquired directly from TTNI within ninety (90) days of the effective date of termination at the price paid for such Licensed Product, provided such Licensed Product is current version, unopened, shrink-wrapped, and in its complete packaging.
6.5. In the event TTNI terminates this Agreement pursuant to either paragraph 6.2 or 6.3 above, TTNI may, at its option, take return of any or all Licensed Product in Distributor's possession and credit or refund to Distributor the price paid for such Licensed Product.