Common use of Failure and Termination Clause in Contracts

Failure and Termination. 12.1 Buyer may terminate this Agreement at any time giving thirty (30) days written notice to Supplier. 12.2 If the Supplier fails to fulfill to the letter of obligation resting on it under the Order, or if the Buyer can reasonably conclude that the Supplier will fail to fulfill any such obligation, then without notice of default the Buyer may, by notice in writing, suspend all its obligations towards the Supplier, cancel the Order and/or terminate the Order in whole or in part, without judicial intervention, retaining all other rights accruing to it. 12.3 In the event of full termination, in exchange for restitution of amounts already paid and costs of transport, the Buyer will return Goods already delivered to the Supplier, at the Supplier’s expense and risk. In the event of partial termination, the Buyer will pay a reasonable portion of the price agreed for the Goods already delivered and accepted by the Buyer. 12.4 The Buyer is also authorized to cancel the Order or dissolve it in whole or in part with immediate effect, without notice of default and without judicial intervention by means of a written statement, if the Supplier applies for suspension of payments, provisional suspension of payments or bankruptcy, is declared bankrupt in a judgment that has become irrevocable, or if the Supplier’s business has been liquidated or terminated other than for the purposes of a merger or business split. If the Buyer terminates the Order for any such reason, the Buyer will never be obliged to pay any damages, without prejudice to the other rights accruing to the Buyer, including the right to full compensation of damages and refunding of the purchaseprice.

Failure and Termination. 12.1 Buyer may terminate this Agreement at any time giving thirty (30) days written notice to Supplier. 12.2 If the Supplier fails to fulfill to the letter of obligation resting on it under the Order, or if the Buyer can reasonably conclude that the Supplier will fail to fulfill any such obligation, then without notice of default the Buyer may, by notice in writing, suspend all its obligations towards the Supplier, cancel the Order and/or terminate the Order in whole or in part, without judicial withoutjudicial intervention, retaining all other rights accruing to it. 12.3 In the event of full termination, in exchange for restitution of amounts already paid and costs of transport, the Buyer will return Goods already delivered to the Supplier, at the Supplier’s expense and risk. In the event of partial termination, the Buyer will pay a reasonable portion of the price agreed for the Goods already delivered and accepted by the Buyer. 12.4 The Buyer is also authorized to cancel the Order or dissolve it in whole or in part with immediate effect, without notice of default and without judicial intervention by means of a written statement, if the Supplier applies for suspension of payments, provisional suspension of payments or bankruptcy, is declared bankrupt in a judgment that has become irrevocable, or if the Supplier’s business has been liquidated or terminated other than for the purposes of a merger or business split. If the Buyer terminates the Order for any such reason, the Buyer will never be obliged to pay any damages, without prejudice to the other rights accruing to the Buyer, including the right to full compensation of damages and refunding of the purchasepricepurchase price.

Failure and Termination. 12.1 Buyer may terminate this Agreement at any time giving thirty (30) days written notice to Supplier. 12.2 If the Supplier fails to fulfill to the letter of obligation resting on it under the Order, or if the Buyer can reasonably conclude that the Supplier will fail to fulfill any such obligation, then without notice of default the Buyer may, by notice in writing, suspend all its obligations towards the Supplier, cancel the Order and/or terminate the Order in whole or in part, without judicial intervention, retaining all other rights accruing to it. 12.3 In the event of full termination, in exchange for restitution of amounts already paid and costs of transport, the Buyer will return Goods already delivered to the Supplier, at the Supplier’s expense and risk. In the event of partial termination, the Buyer will pay a reasonable portion of the price agreed for the Goods already delivered and accepted by the Buyer. 12.4 The Buyer is also authorized to cancel the Order or dissolve it in whole or in part with immediate effect, without notice of default and without judicial intervention by means of a written statement, if the Supplier applies for suspension of payments, provisional suspension of payments or bankruptcy, is declared bankrupt in a judgment that has become irrevocable, or if the Supplier’s business has been liquidated or terminated other than for the purposes of a merger or business split. If the Buyer terminates the Order for any such reason, the Buyer will never be obliged to pay any damages, without prejudice to the other rights accruing to the Buyer, including the right to full compensation of damages and refunding of the purchasepricepurchase price.