Common use of Insolvency of the Supplier Clause in Contracts

Insolvency of the Supplier. In the case of the Supplier’s insolvency, we have the right to withhold a reasonable security, at a minimum, however, 10% of the agreed price, up to the expiry of the limitation period for warranty claims. In the case of the Supplier’s insolvency, the Supplier assigns to us its warranty claims against its upstream suppliers. In the case of the Supplier’s insolvency, we have the right to disclose this assignment. In addition, we have the right to withdraw from orders for deliveries that are not fulfilled at that point in time.