Common use of Default Remedies and Termination Clause in Contracts

Default Remedies and Termination. It shall be a default under this Agreement if a party fails to perform its obligations under this Agreement, and then fails to cure such failure within ten (10) days (for monetary defaults) or thirty (30) days (for non-monetary defaults). Upon a default by Customer, Wowrack shall have all rights and remedies under applicable law or in equity, including, without limitation, the following: (a) the right to suspend or refuse to continue to provide any Products or Services without any liability to Customer for loss or damage until the default is cured in full; (b) the right to terminate any Order or this Agreement by notice to Customer; (c) the right to demand, and receive from Customer upon demand, the entire Charges due Wowrack for the unexpired Term, together with all costs, attorney’s fees, and damages which may have been suffered or incurred by Wowrack as a result of Customer’s default. In addition, Wowrack may terminate this Agreement and any Orders with Customer, effective immediately upon notice, if Customer becomes the subject of a bankruptcy proceeding or other insolvency proceeding. Upon any termination, Customer will remain liable to Wowrack for any accrued amounts owed prior to the effective date of termination. Customer expressly waives all legal notice to vacate the Network and Infrastructure after expiration of cure period.

Default Remedies and Termination. It shall be a default under this Agreement if a party fails to perform its obligations under this Agreement, and then fails to cure such failure within ten (10) days (for monetary defaults) or thirty (30) days (for non-monetary defaults). Upon a default by Customer, Wowrack shall have all rights and remedies under applicable law or in equity, including, without limitation, the following: (a) the right to suspend or refuse to continue to provide any Products or Services without any liability to Customer for loss or damage until the default is cured in full; (b) the right to terminate any Order or this Agreement by notice to Customer; (c) the right to demand, and receive from Customer upon demand, the entire Charges due Wowrack for the unexpired Term, together with all costs, attorney’s fees, and damages which may have been suffered or incurred by Wowrack Xxxxxxx as a result of Customer’s default. In addition, Wowrack may terminate this Agreement and any Orders with Customer, effective immediately upon notice, if Customer becomes the subject of a bankruptcy proceeding or other insolvency proceeding. Upon any termination, Customer will remain liable to Wowrack for any accrued amounts owed prior to the effective date of termination. Customer expressly waives all legal notice to vacate the Network and Infrastructure after expiration of cure period.