A clause in a licensing agreement that allows the licensee to terminate the agreement if the licensor fails to correct defects in the product or re-perform services is known as a:

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A "Exclusive remedy clause" typically specifies the sole remedy available to the licensee if the licensor fails to meet certain obligations, such as correcting defects or re-performing services. This clause limits the licensee's recourse to the specific remedies outlined in the agreement, which could include termination of the agreement under certain conditions.

A Clause in a Licensing Agreement That Allows the Licensee