Common use of Change or Cancellation Clause in Contracts

Change or Cancellation. University may for any reason and at any time by written notice, change, cancel or terminate all or any part of this Purchase Order, and upon University’s request Supplier shall deliver (to the extent reasonably possible) any goods or other deliverables that have been prepared up until the date of such termination. Termination for convenience shall not relieve Supplier or University of its obligations incurred prior to the date of termination. After a termination pursuant to University’s notice, Supplier may request an equitable adjustment on a time and materials basis (but not to include standard stock) for any work then in progress. Supplier shall not be paid for any amount of lost profits on canceled orders, or for any avoidable costs incurred after the date of termination. Any request for an equitable adjustment must be made within thirty (30) days after the date of Supplier's receipt of notice of cancellation, with reasonable support for the amount requested, and shall be negotiated by the Parties in good faith on an expedited basis.