Common use of SUSPENSION OF WORK / CANCELLATION Clause in Contracts

SUSPENSION OF WORK / CANCELLATION. (a) Buyer shall have the right to direct Seller by written or electronic notice, or verbal notice confirmed in writing, to suspend all or any part of the work associated with the goods and services being provided pursuant to this order. If the work associated with the goods and services is suspended pursuant to this paragraph, then an equitable adjustment shall be made for any increase in the time and the cost (exclusive of profit) of performing this order necessarily caused by such suspension, and the order will be modified in writing accordingly by change order. No claim will be allowed under this paragraph unless the claim in an amount stated is asserted in writing within ten (10) days after the termination of the suspension. When the suspension has been terminated, Seller shall immediately commence performance, notwithstanding the fact that the amount of the adjustment in price, if any, or a revised delivery schedule of the order has not been agreed to Buyer and Seller. (b) Buyer may cancel this order at any time for its convenience, in whole or in part, by giving written or electronic notice to Seller. If these terms are made part of an agreement for multiple orders, Buyer may cancel the entire agreement for its convenience by giving written or electronic notice. Upon receipt of such cancellation notice, Seller shall immediately act so that no further costs are incurred, and shall thereafter do only such work as may be necessary to preserve and protect work already in progress and to protect (a) those services actually performed and for those goods actually shipped and accepted by Buyer up to the date of cancellation, and (b) costs incurred by Seller for unfinished goods, which are specifically manufactured for Buyer and which are not standard goods of Seller, as of the date of cancellation. In no event shall Buyer be responsible for loss of anticipated profit nor shall reimbursement exceed the order value. In no case shall Buyer’s responsibility be greater than liability equal to thirty (30) days of finished goods and/or services in process (WIP) and thirty (30) days of raw material unless specifically agreed to in writing by Buyer.

SUSPENSION OF WORK / CANCELLATION. (a) Buyer shall have the right to direct Seller by written or electronic notice, or verbal notice confirmed in writing, to suspend all or any part of the work associated with the goods and services being provided pursuant to this order. If the work associated with the goods and services is suspended pursuant to this paragraph, then an equitable adjustment shall be made for any increase in the time and the cost (exclusive of profit) of performing this order necessarily caused by such suspension, and the order will be modified in writing accordingly by change order. No claim will be allowed under this paragraph unless the claim in an amount stated is asserted in writing within ten (10) days after the termination of the suspension. When the suspension has been terminated, Seller shall immediately commence performance, notwithstanding the fact that the amount of the adjustment in price, if any, or a revised delivery schedule of the order has not been agreed to Buyer and Seller. (b) Buyer may cancel this order at any time for its convenience, in whole or in part, by giving written or electronic notice to Seller. If these terms are made part of an agreement for multiple orders, Buyer may cancel the entire agreement for its convenience by giving written or electronic notice. Upon receipt of such cancellation notice, Seller shall immediately act so that no further costs are incurred, and shall thereafter do only such work as may be necessary to preserve and protect work already in progress and to protectprotect DRESSER-RAND COMPANY TERMS AND CONDITIONS OF PURCHASE D-R195 Terms and Conditions –USA - Effective May 20, 2015 (a) those services actually performed and for those goods actually shipped and accepted by Buyer up to the date of cancellation, and (b) costs incurred by Seller for unfinished goods, which are specifically manufactured for Buyer and which are not standard goods of Seller, as of the date of cancellation. In no event shall Buyer be responsible for loss of anticipated profit nor shall reimbursement exceed the order value. In no case shall Buyer’s responsibility be greater than liability equal to thirty (30) days of finished goods and/or services in process (WIP) and thirty (30) days of raw material unless specifically agreed to in writing by Buyer.

SUSPENSION OF WORK / CANCELLATION. (a) Buyer shall will have the right to direct Seller by written or electronic notice, notice (or verbal notice confirmed in writing, ) to suspend all or any part of the work associated with the goods and services being provided done pursuant to this orderBuyer’s purchase order for a period of time not to exceed 90 days. If the work associated with the goods and services is suspended pursuant to this paragraphsection, then an equitable adjustment shall will be made for any increase in the time and the cost (exclusive of profit) of performing this order necessarily Seller’s performance caused by such suspension, and the Buyer’s purchase order will be modified in writing accordingly by written change orderorder signed by both parties. No claim will be allowed under this paragraph section unless the claim claim, in an amount a stated amount, is asserted in writing within ten (10) 15 days after the termination of the suspension. When the suspension has been terminated, Seller shall immediately commence performance, notwithstanding the fact that the amount of the adjustment in price, if any, or a revised delivery schedule of the Buyer’s purchase order has not been agreed to Buyer and Seller. (b) to. Buyer may cancel this its purchase order at any time for its convenience, in whole or in part, by giving written or electronic notice to Seller. If these terms are made part of an agreement for multiple orders, Buyer may cancel the entire agreement for its convenience by giving written or electronic notice. Upon receipt of such cancellation notice, Seller shall immediately act so that no further costs are incurred, and shall thereafter do only such work as may be necessary to preserve and protect work already in progress and to protect protect material and equipment at the work site or in transit thereto. All cancellation claims must be submitted by Seller in writing to Buyer’s purchasing department within 15 days of the order cancellation date. Buyer’s sole obligation for cancellation under this section will be to (ai) those services actually performed and pay Seller for those goods actually shipped and accepted called for by Buyer Buyer’s purchase order that have been finished up to the date of cancellation, cancellation and (b) costs incurred by Seller for unfinished goods, which are specifically manufactured for Buyer and which are not standard goods of Seller, as of provided that such goods are timely shipped to Buyer and accepted, and (ii) reimburse Seller for costs incurred by Seller for goods called for by Buyer’s purchase order that have not been finished up to the date of cancellationcancellation and are not standard goods of Seller. In no event shall will Buyer be responsible for loss of anticipated profit nor shall will reimbursement exceed the order value. In no case shall Buyer’s responsibility be greater than liability equal to thirty (30) days of finished goods and/or services in process (WIP) and thirty (30) days of raw material unless specifically agreed to in writing by Buyer.

SUSPENSION OF WORK / CANCELLATION. (a) Buyer shall have the right to direct Seller by written or electronic telegraphic notice, or verbal notice confirmed in writing, to suspend all or any part of the work associated with the goods and services being provided done pursuant to this orderorder for a period of time not to exceed ninety (90) days. If the work associated with the goods and services is suspended pursuant to this paragraph, then an equitable adjustment shall be made for any increase in the time and the cost (exclusive of profit) of or performing this order necessarily caused by such suspension, and the order will be modified in writing accordingly by change order. No claim will be allowed under this paragraph unless the claim in an amount stated is asserted in writing within ten (10) days after the termination of the suspension. When the suspension has been terminated, Seller shall immediately commence performance, notwithstanding the fact that the amount of the adjustment in price, if any, or a revised delivery schedule any of the order has not been agreed to Buyer and Seller. (b) to. Buyer may cancel this order at any time for its convenience, in whole or in part, by giving written or electronic notice to Seller. If these terms are made part of an agreement for multiple orders, Buyer may cancel the entire agreement for its convenience by giving written or electronic notice. Upon receipt of such cancellation notice, Seller shall immediately act so that no further costs are incurred, and shall thereafter do only such work as may be necessary to preserve and protect work already in progress and to protect protect material and equipment at the work site or in transit thereto. All cancellation claims must be submitted by Seller in writing to Buyer’s purchasing department within 15 days of the order cancellation date. Buyer’s sole obligation for cancellation under this section shall be to reimburse Seller for (a) those services actually performed and for those goods actually shipped and accepted by Buyer up to the date of cancellation, and (b) costs incurred by Seller for unfinished goods, which are specifically manufactured for Buyer and which are not standard goods of Seller, as of the date of cancellation. In no event shall Buyer be responsible for loss of anticipated profit nor shall reimbursement exceed the order value. In no case shall Buyer’s responsibility be greater than liability equal to thirty (30) days of finished goods and/or services in process (WIP) and thirty (30) days of raw material unless specifically agreed to in writing by Buyer. In the event Seller suspends operations of its business, becomes insolvent, or becomes subject to any law relating to bankruptcy, insolvency or relief of debtors, Buyer may either terminate this order and procure comparable goods or services from an alternative source or request Seller to provide assurances of performance in writing within five days.