Common use of BREACH AND CANCELLATION Clause in Contracts

BREACH AND CANCELLATION. The Purchaser agrees and acknowledges that if the Purchaser breaches any term of this agreement, fails to pay any amount on due date, suffers any civil judgment to be taken or entered against it, causes a notice of surrender of its estate to be published in terms of the Insolvency Act 24 of 1936, as amended, dies and/or is placed under any order of provisional or final sequestration, winding up or judicial management, as the case may be, then all amounts owing to the Seller by the Purchaser will immediately become due and payable and the Seller may, without detracting from any other remedies which may be available to it, 7.1 summarily cancel this agreement and/or any sale without notice to the Purchaser. In view of clause 6, the Purchaser consents to the Seller repossessing any goods delivered to, but not paid for in full by, the Purchaser, and the Purchaser hereby waives any right that it may have thereupon to issue any proceedings which do not require the proving of ownership in such goods; or 7.2 claim specific performance of all of the Purchaser’s obligations, whether or not such obligations would otherwise then have fallen due for performance, in either event without prejudice to the Seller’s right to claim damages.

BREACH AND CANCELLATION. The Purchaser agrees and acknowledges that if the Purchaser breaches any term of this agreement, fails to pay any amount on due date, suffers any civil judgment to be taken or entered against it, causes a notice of surrender of its estate to be published in terms of the Insolvency Act 24 of 1936, as amended, dies and/or is placed under any order of provisional or final sequestration, winding up or judicial management, as the case may be, then all amounts owing to the Seller by the Purchaser will immediately become due and payable and the Seller may, without detracting from any other remedies which may be available to it, 7.1 summarily cancel this agreement and/or any sale without notice to the Purchaser. In view of clause 6, the Purchaser consents to the Seller repossessing any goods delivered to, but not paid for in full by, the Purchaser, and the Purchaser hereby waives any right that it may have thereupon to issue any proceedings which do not require the proving of ownership in such goods; or 7.2 claim specific performance of all of the Purchaser’s obligations, whether or not such obligations would otherwise then have fallen due for performance, in either event without prejudice to the Seller’s right to claim damages.