TiVo 2004 Annual Report Download - page 182
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SECTION 22. TERM.
22.1 The initial term of the Agreement shall commence on the Effective Date and continue until the 7th anniversary of the earlier of Comcast TE
Acceptance or the TE Acceptance Deadline (as the case may be, the "Trigger Date"), such initial term and any subsequent renewal periods provided under
Section 22.2 below are herein referred to as the "Term."
22.2 Comcast shall have the right to renew this Agreement (at its option) according to the following terms:
(a) until the 8th anniversary of the Trigger Date, provided that there are at least [*] Comcast TiVo Subscribers at any time prior to the 7th
anniversary of the Trigger Date;
(b) until the 9th anniversary of the Trigger Date, provided that there are at least [*] Comcast TiVo Subscribers at any time prior to the 8th
anniversary of the Trigger Date; and
(c) for up to six additional one-year periods (i.e., on a year-to-year basis until the 15th anniversary of the Trigger Date), provided that there are at
least [*] Comcast TiVo Subscribers at any time prior to the 9th anniversary of the Trigger Date.
22.3 Upon any Change of Control Event that does not involve a Comcast Competitor, or any bankruptcy, dissolution, liquidation or similar event by
TiVo [*].
SECTION 23. TERMINATION RIGHTS.
23.1 Comcast shall have the right to terminate this Agreement for cause under any of the following circumstances, to be exercised by Comcast [*] after
it becomes aware of the circumstance giving rise to such termination:
(a) Any bankruptcy or other insolvency proceeding (including appointment of a receiver or assignment by TiVo for the benefit of creditors) is
commenced by or against TiVo, which, in the case of a proceeding commenced against TiVo, is not dismissed [*] after the commencement thereof;
(b) TiVo commences the dissolution, liquidation and winding up of its affairs or otherwise ceases to function as a going concern;
(c) TiVo consummates or agrees to consummate (i) any Change of Control Event involving a Comcast Competitor or (ii) any Specified Party
Change of Control Event;
(d) TiVo commits a material breach of this Agreement that remains uncured [*];
(e) Comcast terminates the TiVo Experience Software development project for failure to achieve Comcast TE Acceptance on or before the TE
Acceptance Deadline; or
[*] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment
has been requested with respect to the omitted portions.
38.