Common use of Right to Rescind for Excessive Delay Clause in Contracts

Right to Rescind for Excessive Delay. If the total accumulated time of all delays whether permissible or not exceeds One Hundred and Eighty (180) days, then, in such event, the BUYER may rescind this Contract in accordance with the provisions of Article X hereof. The accumulated time as above shall exclude the time lost due to BUYER’s Default or delays in the BUYER’s supplies. The BUILDER may, at any time after the accumulated time of the aforementioned delays justifying rescission by the BUYER, demand in writing that the BUYER shall make an election proposing a new delivery date, in which case the BUYER shall, within Fourteen (14) days after such demand is received by the BUYER, either notify the BUILDER of its intention to rescind this Contract, or consent to a postponement of the Delivery Date to an agreed specific future date; it being understood and agreed by the parties hereto that, if any further delay occurs on account of causes justifying rescission as specified in this Article, the BUYER shall have the same right of rescission upon the same terms as herein above provided. (End of Article)

Right to Rescind for Excessive Delay. If the total accumulated time of all delays whether permissible or not exceeds One Hundred and Eighty (180) days, then, in such event, the BUYER may rescind this Contract in accordance with the provisions of Article X hereof. The accumulated time as above shall exclude the time lost due to BUYER’s Default or delays in the BUYER’s supplies. The BUILDER may, at any time after the accumulated time of the aforementioned delays justifying rescission by the BUYER, demand in writing that the BUYER shall make an election proposing a new delivery date, in which case the BUYER shall, within Fourteen (14) days 33 after such demand is received by the BUYER, either notify the BUILDER of its intention to rescind this Contract, or consent to a postponement of the Delivery Date to an agreed specific future date; it being understood and agreed by the parties hereto that, if any further delay occurs on account of causes justifying rescission as specified in this Article, the BUYER shall have the same right of rescission upon the same terms as herein above provided. (End of Article)) 34

Right to Rescind for Excessive Delay. If the total accumulated time of all delays whether permissible on account of causes specified in Paragraph 1 of this Article, excluding delays of a nature which under the terms of this Contract permit postponement of the Delivery Date, amounts to days or not exceeds One Hundred and Eighty (180) daysmore, then, in such event, the BUYER may rescind this Contract in accordance with the provisions of Article X hereof. The accumulated time as above shall exclude the time lost due to BUYER’s Default or delays in the BUYER’s supplies. The BUILDER may, at any time after the accumulated time of the aforementioned delays justifying rescission by the BUYER, demand in writing that the BUYER shall make an election proposing a new delivery dateelection, in which case the BUYER shall, within Fourteen twenty (1420) days after such demand is received by the BUYER, either notify the BUILDER of its intention to rescind this Contract, or consent to a postponement of the Delivery Date to an agreed a specific future date; it being understood and agreed by the parties hereto that, if any further delay occurs on account of causes justifying rescission as specified in this Article, the BUYER shall have the same right of rescission upon the same terms as herein above provided. hereinabove provided (End of Article)

Right to Rescind for Excessive Delay. If the total accumulated time of all delays whether permissible or not exceeds One on account of causes specified in Paragraph 1 of this Article, excluding delays of a nature which under the terms of this Contract permit postponement of the Delivery Date, amounts to Two Hundred and Eighty Ten (180210) daysdays or more, then, in such event, the BUYER may rescind this Contract in accordance with the provisions of Article X hereof. The accumulated time as above shall exclude the time lost due to BUYER’s Default or delays in the BUYER’s supplies. The BUILDER may, at any time after the accumulated time of the aforementioned delays justifying rescission by the BUYER, demand in writing that the BUYER shall make an election proposing a new delivery dateelection, in which case the BUYER shall, within Fourteen twenty (1420) days after such demand is received by the BUYER, either notify the BUILDER of its intention to rescind this Contract, or consent to a postponement of the Delivery Date to an agreed a specific future date; it being understood and agreed by the parties hereto that, if any further delay occurs on account of causes justifying rescission as specified in this Article, the BUYER shall have the same right of rescission upon the same terms as herein above provided. hereinabove provided (End of Article)

Right to Rescind for Excessive Delay. If the total accumulated time of all delays whether permissible or not exceeds One on account of the causes specified in Paragraph 1 of this Article, excluding delays of a nature which under terms of this Contract permit postponement of the Delivery Date, amounts to Two Hundred and Eighty Ten (180210) daysdays or more, then, in such event, the BUYER may rescind this Contract in accordance with the provisions of Article X hereof. The accumulated time as above shall exclude the time lost due to BUYER’s Default or delays in the BUYER’s supplies. The BUILDER may, at any time after the accumulated time of the aforementioned delays justifying rescission by the BUYER, demand in writing that the BUYER shall make an election proposing a new delivery dateelection, in which case the BUYER shall, within Fourteen twenty (1420) days after such demand is received by the BUYER, either notify the BUILDER of its intention to rescind this Contract, or consent to a postponement of the Delivery Date to an agreed a specific future date; it being understood and agreed by the parties hereto that, if any further delay occurs on account of causes justifying rescission as specified in this Article, the BUYER shall have the same right of rescission upon the same terms as herein above hereinabove provided. (End of Article).