MMRGlobal, Inc. (fka MMRF)

[PoisonPill]

Right. It says in event of a BK, the agmt shall terminate. The BK is a condition subsequent, which means all obligations which have matured (or not yet matured) under the agmt continue until such event as the BK. But just because the legal obligation to continue to do business under the agmt has terminated/ended by operation of cond subsequent, that doesn't mean that non performance by a party (while the agmt was in effect) is excused. That's just plain silly. MMR would still be entitle to damages for the non performance during the active term of the agmt, unless MMR itself was in breach. To structure an agmt otherwise is just plain nonsense and is unprecedented.