Common use of ECONOMIC HARDSHIP Clause in Contracts

ECONOMIC HARDSHIP. In addition to the other rights and remedies of the Seller set forth herein, if at any time during the term of the Agreement, the Seller experiences any event (including but not limited to, changes in market conditions, changes in applicable rates, duties, taxes or changes relating to the Products and/or increases in the prices of energy, raw materials or other materials necessary for the manufacture of the Products) that causes the continued manufacture or sale of the Products to the Buyer to be uneconomical, or otherwise creates an economic hardship for the Seller, then the Seller may, at its sole option and upon written notice to the Buyer, either (i) increase the price of the Products to cover such event; or (ii) terminate the Agreement upon thirty (30) days prior written notice to the Buyer. This Section shall be applied and construed separately from the force majeure provisions in the Agreement.

Appears in 5 contracts

Samples: General Conditions of Sale, General Conditions of Sale, General Conditions of Sale

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