Common use of CANCELLATION FOR DEFAULT Clause in Contracts

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. 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.sixty

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-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.