Common use of Additional Rights and Remedies Clause in Contracts

Additional Rights and Remedies. The rights and remedies provided in this clause are in addition to any other rights and remedies provided by law or under this contract. TERMINATION UPON BANKRUPTCY This contract may be terminated in whole or in part by the Commission upon written notice to Contractor/Vendor, if Contractor/Vendor should become the subject of bankruptcy or receivership proceedings, whether voluntary or involuntary, or upon the execution by Contractor/Vendor of an assignment for the benefit of its creditors. In the event of such termination, Contractor shall be entitled to recover just and equitable compensation for satisfactory work performed under this contract, but in no case shall said compensation exceed the total contract price.