[Back] [Score 1] In the absence of a provision describing what happens in the event of a default, general contract law would permit a party to terminate the agreement only in the event of a material breach by the other party that was not cured within a reasonable period of time. While that is not a bad result, the increased specificity of this type of provision is probably preferable.
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Modify the second sentence by increasing the maximum liability to the greater of (a) "any amounts paid by Licensee for the Software" or (b) some specified dollar amount.