Common use of Obligations on Termination Clause in Contracts

Obligations on Termination. On termination of this Agreement, Sub Distributor shall cease to be an authorized Sub Distributor. All amounts owing by Sub Distributor to Distributor shall, notwithstanding prior terms of sale, become immediately due and payable; 16.1.1. All unshipped orders shall be cancelled without liability of either party to the other; 16.1.2. Sub Distributor will resell and deliver to Distributor on demand, free and clear of liens and encumbrances, such of Distributor’s Products and materials bearing Distributors name as Distributor shall elect to repurchase, at a mutually agree price, but not in excess of Distributor’s current price to distributors for such products and materials, provided that Distributor shall not be obligated to pay Sub Distributor for any item originally provided free of charge; 16.1.3. Neither party shall be liable to the other because of such termination for compensation, reimbursement or damages on account of the loss of prospective profits or anticipated sales, or on account of expenditures, investments, lease or commitments in connection with the business or goodwill of Distributor or for any other reason whatsoever growing out of such termination. 16.1.4. In sum, both parties acknowledge that termination of this Agreement at some point is highly probable and should be treated in the ordinary course of business with both parties exerting their best efforts to end the relationship amicably.

Appears in 5 contracts

Samples: Sub Distributorship Agreement, Sub Distributorship Agreement, Sub Distributorship Agreement

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Obligations on Termination. On termination of this Agreement, Sub Distributor shall cease to be an authorized Sub Distributordistributor. All amounts owing by Sub Distributor to Distributor Manufacturer shall, notwithstanding prior terms of sale, become immediately due and payable; 16.1.1. ; All unshipped orders shall be cancelled without liability of either party to the other; 16.1.2. Sub ; Distributor will resell and deliver to Distributor Manufacturer on demand, free and clear of liens and encumbrances, such of Distributor’s Manufacturer's Products and materials bearing Distributors Manufacturer's name as Distributor Manufacturer shall elect to repurchase, at a mutually agree price, but not in excess of Distributor’s Manufacturer's current price to distributors for such products and materials, provided that Distributor Manufacturer shall not be obligated to pay Sub Distributor for any item originally provided free of charge; 16.1.3. ; Neither party shall be liable to the other because of such termination for compensation, reimbursement or damages on account of the loss of prospective profits or anticipated sales, or on account of expenditures, investments, lease or commitments in connection with the business or goodwill of Manufacturer or Distributor or for any other reason whatsoever growing out of such termination. 16.1.4. In sum, both parties acknowledge that termination of this Agreement at some point is highly probable and should be treated in the ordinary course of business with both parties exerting their best efforts to end the relationship amicably.

Appears in 2 contracts

Samples: Non Exclusive Distributor Agreement, Exclusive Distributor Agreement

Obligations on Termination. On termination of this Agreement, Sub Distributor shall cease to be an authorized Sub Distributordistributor. All amounts owing by Sub Distributor to Distributor Manufacturer shall, notwithstanding prior terms of sale, become immediately due and payable; 16.1.1. A. All unshipped orders shall be cancelled without liability of either party to the other; 16.1.2. Sub B. Distributor will resell and deliver to Distributor Manufacturer on demand, free and clear of liens and encumbrances, such of Distributor’s Manufacturer's Products and materials bearing Distributors Manufacturer's name as Distributor Manufacturer shall elect to repurchase, at a mutually agree price, but not in excess of Distributor’s Manufacturer's current price to distributors for such products and materials, provided that Distributor Manufacturer shall not be obligated to pay Sub Distributor for any item originally provided free of charge; 16.1.3. C. Neither party shall be liable to the other because of such termination for compensation, reimbursement or damages on account of the loss of prospective profits or anticipated sales, or on account of expenditures, investments, lease or commitments in connection with the business or goodwill of Manufacturer or Distributor or for any other reason whatsoever growing out of such termination. 16.1.4. D. In sum, both parties acknowledge that termination of this Agreement at some point is highly probable and should be treated in the ordinary course of business with both parties exerting their best efforts to end the relationship amicably.

Appears in 1 contract

Samples: Exclusive Distributor Agreement

Obligations on Termination. On termination of this Agreement, Sub Distributor shall cease to be an authorized Sub Distributordistributor. All amounts owing by Sub Distributor to Distributor Manufacturer shall, notwithstanding prior terms of sale, become immediately due and payable; 16.1.1. A. All unshipped orders shall be cancelled without liability of either party to the other; 16.1.2. Sub B. Distributor will resell and deliver to Distributor Manufacturer on demand, free and clear of liens and encumbrances, such of DistributorManufacturer’s Products and materials bearing Distributors Manufacturer’s name as Distributor Manufacturer shall elect to repurchase, at a mutually agree price, but not in excess of DistributorManufacturer’s current price to distributors for such products and materials, provided that Distributor Manufacturer shall not be obligated to pay Sub Distributor for any item originally provided free of charge; 16.1.3. C. Neither party shall be liable to the other because of such termination for compensation, reimbursement or damages on account of the loss of prospective profits or anticipated sales, or on account of expenditures, investments, lease or commitments in connection with the business or goodwill of Manufacturer or Distributor or for any other reason whatsoever growing out of such termination. 16.1.4. D. In sum, both parties acknowledge that termination of this Agreement at some point is highly probable and should be treated in the ordinary course of business with both parties exerting their best efforts to end the relationship amicably.

Appears in 1 contract

Samples: Non Exclusive Distributor Agreement

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Obligations on Termination. On termination of this Agreement, Sub the Distributor shall cease to be an authorized Sub Distributordistributor. All amounts owing by Sub Distributor to Distributor Manufacturer shall, notwithstanding prior terms of sale, become immediately due and payable; 16.1.1. A. All unshipped orders shall be cancelled without liability of either party to the other; 16.1.2. Sub B. Distributor will resell and deliver to Distributor on Manufacturer on-demand, free and clear of liens and encumbrances, such of Distributor’s Manufacturer's Products and materials bearing Distributors Manufacturer's name as Distributor Manufacturer shall elect to repurchase, at a mutually agree agreed price, but not in excess of Distributor’s Manufacturer's current price to distributors for such products and materials, provided that Distributor Manufacturer shall not be obligated to pay Sub Distributor for any item originally provided free of charge; 16.1.3. C. Neither party shall be liable to the other because of such termination for compensation, reimbursement or damages on account of the loss of prospective profits or anticipated sales, or on account of expenditures, investments, lease or commitments in connection with the business or goodwill of Manufacturer or Distributor or for any other reason whatsoever growing out of such termination. 16.1.4. D. In sum, both parties acknowledge that termination of this Agreement at some point is highly probable and should be treated in the ordinary course of business with both parties exerting their best efforts to end the relationship amicably.

Appears in 1 contract

Samples: Non Exclusive Distributor Agreement

Obligations on Termination. On termination of this Agreement, Sub the Distributor shall cease to be an authorized Sub Distributordistributor. All amounts owing by Sub Distributor to Distributor Manufacturer shall, notwithstanding prior terms of sale, become immediately due and payable; 16.1.1. A. All unshipped orders shall be cancelled without liability of either party to the other; 16.1.2. Sub B. Distributor will resell and deliver to Distributor on Manufacturer on-demand, free and clear of liens and encumbrances, such of Distributor’s Manufacturer's Products and materials bearing Distributors Manufacturer's name as Distributor Manufacturer shall elect to repurchase, at a mutually agree agreed price, but not in excess of Distributor’s over Manufacturer's current price to distributors for such products and materials, provided that Distributor Manufacturer shall not be obligated to pay Sub Distributor for any item originally provided free of charge; 16.1.3. C. Neither party shall be liable to the other because of such termination for compensation, reimbursement or damages on account of the loss of prospective profits or anticipated sales, or on account of expenditures, investments, lease or commitments in connection with the business or goodwill of Manufacturer or Distributor or for any other reason whatsoever growing out of such termination. 16.1.4. D. In sum, both parties acknowledge that termination of this Agreement at some point is highly probable and should be treated in the ordinary course of business with both parties exerting their best efforts to end the relationship amicably.

Appears in 1 contract

Samples: Exclusive Distributor Agreement

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