Common use of CANCELLATION FOR DEFAULT Clause in Contracts

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.

CANCELLATION FOR DEFAULT. Should In the event Seller shall 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 shall be 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 provisions or requirement under of this Purchase Order, Buyer may, by written notice to Seller and Seller, without prejudice to any other rights or remedies which Buyer may havehave at law or equity, and without further liability or obligation to Seller, cancel further performance by Seller under this Purchase Order. In the event of such cancellation Seller shall be liable for cancellation, without waiving or limiting any and all additional costs and expenses incurred by other right or remedy that Buyer to may have at law or in equity, Buyer may complete the performance of this the Purchase Order or otherwise derived from Seller's defaultby such means as Buyer selects, and Seller shall be responsible for any additional costs incurred by Buyer in doing so. Seller shall deliver or assign to Buyer any work in progress as Buyer may request. Any , and any amounts due to Seller for goods or and services completed by Seller in strict full compliance with the terms and conditions of this Purchase Order prior to such cancellation, cancellation shall be subject to set off with of Buyer's additional costs for and expenses of completing the Purchase Order and other damages incurred by Buyer as a result of Seller's default. Waiver by Buyer of any default of Seller may only occur in a writing signed by Xxxxx and any such waiver shall not be considered to be a waiver by Buyer of any provision of this Purchase Order or of any subsequent default by Seller.

CANCELLATION FOR DEFAULT. Should In the event Seller shall 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 shall be 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 provisions or requirement under of this Purchase Order, Buyer may, by written notice to Seller and Seller, without prejudice to any other rights or remedies which Buyer may havehave at law or equity, and without further liability or obligation to Seller, cancel further performance by Seller under this Purchase Order. In the event of such cancellation Seller shall be liable for cancellation, without waiving or limiting any and all additional costs and expenses incurred by other right or remedy that Buyer to may have at law or in equity, Buyer may complete the performance of this the Purchase Order or otherwise derived from Seller's defaultby such means as Buyer selects, and Seller shall be responsible for any additional costs incurred by Buyer in doing so. Seller shall deliver or assign to Buyer any work in progress as Buyer may request. Any , and any amounts due to Seller for goods or and services completed by Seller in strict full compliance with the terms and conditions of this Purchase Order prior to such cancellation, cancellation shall be subject to set off with of Buyer's additional costs for and expenses of completing the Purchase Order and other damages incurred by Buyer as a result of Seller's default. Waiver by Buyer of any default of Seller may only occur in a writing signed by Buyer and any such waiver shall not be considered to be a waiver by Buyer of any provision of this Purchase Order or of any subsequent default by Seller.