1. Either Party has the right to terminate this Agreement by written notice with immediate effect, should there arise any of the following events:
1) a material breach and/or violation to this Agreement by the other Party, which has not been remedied by such breaching Party within a reasonable remedial period given by the non-breaching Party;
2) commencement of procedures for bankruptcy, civil rehabilitation, corporate reorganization or any other procedures having the similar effect regardless of whether being filed by it or by any other third party;
3) the other Party becoming insolvent or being stopped the bank transaction or there is a reasonable ground to consider that such situation will arise;
4) cancellation or suspension of the business license of the other Party for any reason whatsoever; or
5) occurrence of the event which makes continuation of this Agreement meaningless and difficult.