Common use of Termination of Deliveries Notice Clause in Contracts

Termination of Deliveries Notice. If Seller delivers to Buyer a Termination of Deliveries Notice, Buyer shall immediately cease taking any Deliveries of Oil or Indigenous Feedstock and all rights of Buyer to take deliveries of Oil and Indigenous Feedstock from the Storage Facilities shall terminate. With respect to the delivery of a Termination of Deliveries Notice, Buyer acknowledges Seller will suffer irreparable harm should Buyer, following delivery of a Termination of Deliveries Notice, continue to take quantities of Oil and that there is no adequate remedy at law with respect to such failure to comply. Buyer acknowledges that a temporary restraining order and temporary injunction are appropriate remedies for a failure by Buyer to comply with a Termination of Deliveries Notice and as such, Buyer waives any requirement that Seller post a bond in the event that Seller seeks either a temporary restraining order or temporary injunction as a result of Buyer failing to comply with a Termination of Deliveries Notice.

Termination of Deliveries Notice. If Seller delivers to Buyer a Termination of Deliveries Notice, Buyer shall immediately cease taking any Deliveries of Oil or Indigenous Feedstock and all rights of Buyer to take deliveries of Oil and Indigenous Feedstock from the Storage Facilities shall terminate. With respect to the delivery of a Termination of Deliveries Notice, Buyer acknowledges Seller will suffer irreparable harm should Buyer, following delivery of a Termination of Deliveries Notice, continue to take quantities of Oil and Feedstock and that there is no adequate remedy at law with respect to such failure to comply. Buyer acknowledges that a temporary restraining order and temporary injunction are appropriate remedies for a failure by Buyer to comply with a Termination of Deliveries Notice and as such, Buyer waives any requirement that Seller post a bond in the event that Seller seeks either a temporary restraining order or temporary injunction as a result of Buyer failing to comply with a Termination of Deliveries Notice.