A professional boxing or professional mixed martial arts management contract that has been filed with and approved by the Commission may be voided, in whole or in part, in the discretion of the Commission, if either party ceases to possess a valid license issued by the Commission, or upon an adjudication by the Commission that either party has substantially breached the terms thereof or as a result of a determination by the Commission that a party has violated the law or rules of the Commission.
N.Y. Comp. Codes R. & Regs. Tit. 19 § 209.5