Common use of LIABILITIES OF THE PARTIES Clause in Contracts

LIABILITIES OF THE PARTIES. 11.1. The Parties acknowledge that the Seller has a legitimate interest in ensuring guaranteed prompt payment under the Contract. Accordingly, should the Buyer breach the terms of payment stipulated in Clause 8 of the Contract, the Buyer shall pay to the Seller liquidated damages at the rate of 0.05% of the amount outstanding per full calendar day of the payment delay. Should the Buyer fail to make 100% payment of Goods cost within 2 days of the time stipulated for payment, the Seller has the right, at its sole discretion, to terminate an additional agreement to the Contract and/or the Contract by written notice to the Buyer and without further liability upon the Seller. Should the Buyer breach the terms of signing of additional agreements both on provisional price and on final one, and the terms of fulfillment of the prepayment and/or final settlement, indicated in cl.8.3, the Seller reserves the right at its sole discretion, not to nominate the future Goods lots with further postponement of the delivery and/or to decrease the volume of the Goods delivered under the current Contract and/or to terminate the Contract without further liability upon the Seller.

LIABILITIES OF THE PARTIES. 11.19.1. The Parties acknowledge that the Seller has a legitimate interest in ensuring guaranteed prompt payment under the Contract. Accordingly, should the Buyer breach the terms of payment stipulated in Clause 8 6 of the Contract, the Buyer shall pay to the Seller liquidated damages at the rate of 0.05% of the amount outstanding per full calendar day of the payment delay. Should the Buyer fail to make 100% payment of Goods cost within 2 days of the time stipulated for payment, the Seller has the right, at its sole discretion, to terminate an additional agreement to the Contract and/or the Contract by written notice to the Buyer and without further liability upon the Seller. Should the Buyer breach the terms of signing of additional agreements both on provisional price and on final one, and the terms of fulfillment of the prepayment and/or final settlement, indicated in cl.8.3cl.6.3, the Seller reserves the right at its sole discretion, not to nominate the future Goods lots with further postponement of the delivery and/or to decrease the volume of the Goods delivered under the current Contract and/or to terminate the Contract without further liability upon the Seller.