CANCELLATION FOR DEFAULT. In the event Contractor is in default of any of its obligations under the Contract, Con Edison shall have the right, on written notice to Contractor and any sureties, to cancel the Contract for default. Contractor shall be deemed to be in default hereunder if it is in default of any of its obligations under the Contract or makes any statement or performs any act indicating that it will not perform one or more of such obligations (whether or not the time has yet arrived for performance thereof) or rejects the Contract under the United States Bankruptcy Code or ceases to pay its debts promptly or becomes insolvent or commences or has commenced against it any insolvency proceeding or finds its affairs placed in the hands of a receiver, trustee, or assignee for the benefit of creditors. In the event of cancellation for default hereunder, Article 33 (Termination for Convenience), shall not apply, and Con Edison shall have all rights and remedies provided by law and the Contract. Without intending to limit the generality of the foregoing, it is specifically understood and agreed that Con Xxxxxx shall have the right, at its election and without prejudice to any other remedies, (i) to exclude Contractor from the construction site, or any portion of the construction site, (ii) to complete or employ a third party to complete the Work or any portion of the Work, and hold Contractor liable for any additional cost occasioned thereby, (iii) to take possession of any or all materials, tools, equipment and appliances at the construction site for the purpose of completing the Work or any portion of the Work, (iv) to compel Contractor to assign any or all subcontracts with Subcontractors to Con Edison without additional cost or expense to Con Edison, and/or (v) to negotiate new contractual arrangements with Subcontractors for such Subcontractors to complete all or any portion of the work on terms agreeable to Con Edison. Upon Con Xxxxxx's request, Contractor shall promptly provide Con Xxxxxx with Contractor's sworn statement stating, for each subcontract with each Subcontractor (i) the original price of the subcontract and the price of each change order thereunder together with a description of each such change order, (ii) the amount that Contractor paid under the subcontract and each change order thereunder, and (iii) the amount of retention held by Contractor under the subcontract and each change order thereunder. Following cancellation of the Contract for default, Contra...
CANCELLATION FOR DEFAULT a. Buyer may, by written notice to Seller, cancel all or part of this Contract: (i) if Seller fails to deliver the Goods within the time specified by this Contract or any written extension; (ii) if Seller fails to perform any other provision of this Contract or fails to make progress, so as to endanger performance of this Contract, and, in either of these two circumstances, within ten (10) days after receipt of notice from Buyer specifying the failure, does not cure the failure or provide Buyer with a written detailed plan adequate to cure the failure if such failure reasonably cannot be cured within such ten (10) days and such plan is acceptable to Buyer’s Authorized Procurement Representative; or (iii) in the event of Seller's bankruptcy, suspension of business, insolvency, appointment of a receiver for Seller's property or business, or any assignment, reorganization or arrangement by Seller for the benefit of its creditors.
b. Seller shall continue all work not canceled.
c. Buyer may require Seller to transfer title and deliver to Buyer, as directed by Xxxxx, any (i) completed Goods, and
CANCELLATION FOR DEFAULT. (a) Buyer may, by written notice to Supplier, cancel all or part of this Purchase Order (i) if Supplier fails to deliver the goods within the time specified by this Purchase Order or any written extension; and (ii) if Supplier fails to perform any other provision of this Purchase Order or fails to make progress, so as to endanger performance of this Purchase Order, and, in either of these two circumstances, does not cure the failure within 10 days after receipt of notice from Buyer specifying the failure; or (iii) in the event of Supplier’s suspension of business, insolvency, appointment of a receiver for Supplier’s property or business, or any assignment, reorganization of arrangement by Supplier for the benefit of its creditors.
(b) Supplier shall continue to supply goods not cancelled.
(c) If Buyer cancels all or part of this Purchase Order, Buyer may require Supplier to transfer title and deliver to Buyer, as directed by Xxxxx, any (i) completed goods, (ii)any partially completed goods and materials, parts, tools, dies, fixtures, plans, drawings, information and contract rights (collectively, “Manufacturing Materials”) that Supplier has specifically produced or acquired for the cancelled portion of this Purchase Order. Upon direction from Buyer, Supplier shall also protect and preserve goods in its possession in which Buyer or its customer has an interest.
(d) Buyer shall pay the price specified in the Purchase Order for goods accepted. Payment for Manufacturing Materials accepted by Buyer and for the protection and preservation of property shall be at Supplier’s direct costs. Buyer may withhold from any amount due under this Purchase Order any sum Buyer determines to be necessary to protect Buyer or Buyer’s customer against loss because of outstanding liens or claims of former lien holders.
CANCELLATION FOR DEFAULT a. Buyer may, by written notice to Seller, cancel all or part of this contract (i) if Seller fails to deliver the Services within the time specified by this contract or any written extension; (ii) if Seller fails to perform any other provision of this contract or fails to make progress, so as to endanger performance of this contract, and, in either of these two circumstances, does not cure the failure within 10 days after receipt of notice from Buyer specifying the failure; or (iii) in the event of Seller's bankruptcy, suspension of business, insolvency, appointment of a receiver for Seller's property or business, or any assignment, reorganization or arrangement by Seller for the benefit of its creditors.
b. Seller shall continue work not canceled.
CANCELLATION FOR DEFAULT a. Buyer may, by written notice to Seller, cancel all or part of this contract if (i) Seller fails to deliver the Goods within the time specified by this contract or any written extension; (ii) Seller fails to perform any other provision of this contract or fails to make progress, so as to endanger performance of this contract, and, in either of these two circumstances, does not cure the failure within 10 days after receipt of notice from Buyer specifying the failure; or
CANCELLATION FOR DEFAULT a. Buyer may, by written notice to Seller, cancel all or part of this Contract: (i) if Seller fails to deliver the Services within the time specified by this Contract or any written extension; or (ii) if Seller fails to perform any other provision of this Contract or fails to make progress, so as to endanger performance of this Contract, and, in either of these two circumstances, within ten (10) days after receipt of notice from Buyer specifying the failure, does not cure the failure or provide Buyer with a written detailed plan adequate to cure the failure if such failure reasonably cannot be cured within such ten (10) days and such plan is acceptable to Xxxxx’s Authorized Procurement Representative. Seller shall continue work not canceled.
b. Seller shall continue all Services not canceled. In the event Buyer cancels this contract for default, Buyer may require Seller to deliver to Buyer all work in process existing as of the date of cancellation.
CANCELLATION FOR DEFAULT. In the event Seller shall be adjudged bankrupt, make a general assignment for the benefit of its creditors, or if a receiver shall be appointed on account of Seller's insolvency, or in the event Seller is in default of any material provisions or requirement of this Purchase Order, Buyer may, by written notice to Seller, without prejudice to any other rights or remedies which Buyer may have, cancel further performance by Seller under this Purchase Order, in whole or in part. In the event of such cancellation, Buyer may complete the performance of the terminated portions of this Purchase Order by such means as Buyer selects, and Seller shall be responsible for any additional costs incurred by Buyer in so doing.
CANCELLATION FOR DEFAULT. Buyer may, in its sole discretion, cancel this Purchase Order in whole or from time to time in part, effective as of the date specified by Buyer, in accordance with provisions of FAR 52.249-8 (APR 1984; without Alternates), which provisions are incorporated herein by reference, in the event of any Seller default or in the event of Seller’s suspension of business, insolvency, reorganization or
CANCELLATION FOR DEFAULT. Either party may cancel any Contract, in whole or in part, to the extent the other party fails to perform any of its material obligations under the Contract, and does not cure the failure within thirty (30) days after service of a default notice, specifying the failure. In the event and to the extent of any cancellation under this clause, all obligations of the non-defaulting party and all rights and licenses of the defaulting party under the Contract shall thereupon be canceled, and all rights and licenses of the non-defaulting party and all accrued obligations of the defaulting party under the Contract shall survive, but in each case only with respect to the Goods covered by the cancellation notice. The defaulting party shall continue to perform its obligations under the Agreement to the extent not canceled. Buyer’s total liability shall be to pay Seller for the Goods delivered and accepted, but not paid for under the Contract, on or prior to the effective date of cancellation. Buyer may return, and Seller shall have no claims against Buyer for Goods not accepted by Xxxxx or for rejected Goods. Seller shall give Buyer written notice of its intent to submit any claims for compensation under this clause within thirty (30) days after the effective date of cancellation and shall submit all such claims within sixty (60) days after the effective date of cancellation. Seller hereby waives, releases, and renounces any claim for compensation not made within this period.
CANCELLATION FOR DEFAULT. Should Seller be adjudged bankrupt, make a general assignment for the benefit of its creditors, participate in general agreements with its creditors or business reorganization procedures or if a receiver is appointed on account of Seller's insolvency or if Seller is otherwise insolvent as evidenced by its incapacity to timely pay its debts as they become due or, in the event that Seller is in default of any provision or requirement under this Purchase Order, Buyer may, by written notice to Seller and without prejudice to any other rights or remedies which Buyer may have, cancel further performance by Seller under this Purchase Order. In the event of such cancellation Seller shall be liable for any and all additional costs and expenses incurred by Buyer to complete the performance of this Purchase Order or otherwise derived from Seller's default. Seller shall deliver or assign to Buyer any work in progress as Buyer may request. Any amounts due to Seller for goods or services completed by Seller in strict compliance with the terms and conditions of this Purchase Order prior to such cancellation, shall be subject to set off with Buyer's additional costs for completing the Purchase Order and other damages incurred by Buyer as a result of Seller's default.
