Common use of Delay due to the Buyer's Circumstances Clause in Contracts

Delay due to the Buyer's Circumstances. 5.3.1 If the Buyer fails to take timely delivery of the Products - or if, where the Buyer is to give delivery instructions, the Buyer fails to give such instructions - the Seller may at its discretion, and as further described in this Clause 5.3 below, either extend the time of delivery or shipment of the Products, and store the Products at the Buyer's risk and cost until actual delivery, or terminate the Agreement or any part thereof, in either case without prejudice to any other right or remedy available to the Seller. 5.3.2 In events as stated in Clause 5.3.1, the Seller shall be entitled to issue the relevant invoice and claim payment in accordance therewith as if delivery had taken place on the applicable delivery date. Such stipulated date of delivery shall be considered the date of delivery for the purpose of the agreed delivery terms, in particular with respect to the passing of risk. 5.3.3 The Seller is under no obligation to take care of or store the Products in the event of delayed delivery due to the Buyer's circumstances. To the extent that the Seller undertakes to make arrangements for storage of the Products, the Buyer agrees to pay all related costs, including all storage costs and handling and transportation costs. 5.3.4 In events as stated in Clause 5.3.1, the Seller is entitled to request that the Buyer accepts delivery of the Products within a specified period of time. If the Buyer does not accept delivery of the Products within this period of time, the Seller is entitled to terminate the Agreement and any parts thereof and to sell the Products to a third party. The Buyer shall indemnify the Seller for any costs and losses incurred by the Seller related thereto, including costs incurred under Clause 5.3.3.