Common use of Obligations of the Buyer Upon Termination Clause in Contracts

Obligations of the Buyer Upon Termination. In the event of such termination, the Buyer shall immediately stop all work hereunder and cause any and all of its suppliers and subcontractors to cease work. In addition, the Buyer agrees that it will forthwith, upon receipt of directions from the Contracting Officer surrender to the Contracting Officer the actual possession of the Obsolete Vessel(s) and deliver to the Contracting Officer a properly executed xxxx of sale for the Obsolete Vessel conveying the Obsolete Vessel back to the Government with fully warranty of title and freedom from all liens and encumbrances.

Obligations of the Buyer Upon Termination. In the event of such termination, the Buyer shall immediately stop all work hereunder and cause any and all of its suppliers and subcontractors to cease work. In addition, the Buyer agrees that it will forthwith, upon receipt of directions from the Contracting Officer surrender to the Contracting Officer the actual possession of the Obsolete Vessel(s) and deliver to the Contracting Officer a properly executed xxxx bill of sale for the Obsolete Vessel conveying the Obsolete Vessel back to the Government with fully warranty of title and freedom from all liens and encumbrances.