Common use of Recoupment and Failure of Consideration Clause in Contracts

Recoupment and Failure of Consideration. If either party to this Assumption Agreement fails to perform this Assumption Agreement in full, then the other party has the right to suspend performance, and if the defaults cannot be cured, within one hundred and twenty (120) days following delivery of written notice from the non-defaulting party to the defaulting party, to terminate this Assumption Agreement. Alternatively, the non-defaulting party can recoup damages (including, without limitation, the amount owned plus interest from the date owed and calculated at the Chase Bank prime rate plus two points) from future settlements between the parties.

Recoupment and Failure of Consideration. If either party to this Assumption Agreement fails to perform this Assumption Agreement in full, then the other party has the right to suspend performance, and if the defaults cannot be cured, within one hundred and twenty (120) days following delivery of written notice from the non-defaulting party to the defaulting party, to terminate this Assumption Agreement. Alternatively, the non-defaulting party can recoup damages (including, without limitation, the amount owned owed plus interest from the date owed and calculated at the Chase Bank prime rate plus two points) from future settlements between the parties.

Recoupment and Failure of Consideration. If either party to this Assumption Agreement fails to perform this Assumption Agreement in full, then the other party has the right to suspend performance, and if the defaults cannot be cured, within one hundred and twenty (120) days following delivery of written notice from the non-defaulting party to the defaulting party, to terminate this Assumption Agreement. Alternatively, the non-defaulting party can recoup damages (including, without limitation, the amount owned owed plus interest from the date owed and calculated at the Chase Bank prime rate plus two points) from future settlements between the partiesMonthly Settlements.