Common use of BUYER'S REMEDIES ON SELLER'S DEFAULT Clause in Contracts

BUYER'S REMEDIES ON SELLER'S DEFAULT. If Seller shall default in the performance of any of the terms hereof, or breach any of its obligations hereunder, or if Seller becomes insolvent or makes an assignment for the benefit of creditors or a petition in bankruptcy is filed by or against it, or a trustee or receiver is appointed over any of its property, then Buyer may cancel this order in whole or in part by written, electronic or telegraphic notice and Buyer shall have no obligation to Seller whatsoever by reason of such cancellation and shall, in the case of Seller's breach, have all remedies provided herein and all other remedies provided by law.