Common use of Grounds for Termination by Purchaser Clause in Contracts

Grounds for Termination by Purchaser. Purchaser shall have the right to terminate this Contract for cause upon the occurrence of a Seller Event of Default; provided, however, that (a) Purchaser shall first have provided Seller with written notice of the nature of such breach in reasonable detail and of Purchaser’s intention to terminate this Contract as a result of such breach, and (b) Seller shall have failed within thirty (30) days after receipt of such notice (ten (10) days for breach of a payment obligation) to commence and diligently pursue the correction of such breach (and not have cured such breach within sixty (60) days after receipt of such notice), except that if a Party wishes to terminate this Contract pursuant to this paragraph, in no event shall such right to terminate be effective until after the Parties have followed the “referral to senior management” process set forth in the first paragraph of Article 28, but in no event shall the Parties be obligated to pursue the other dispute resolution procedures described in Article 28 unless a genuine dispute exists with respect to such dispute. If Purchaser terminates this Contract pursuant to this Article 24, then Purchaser shall also be entitled to terminate all of the other Multi-Hearth Furnace Contracts pursuant to Article 24 thereunder. If Purchaser terminates any of the other Multi-Hearth Furnace Contracts pursuant to Article 24 thereunder, then Purchaser shall also be entitled to terminate this Contract pursuant to this Article 24.