TERMINATION OF PURCHASE ORDERS. Buyer may terminate this Agreement at any time with or without cause by written notice to Seller. Upon receipt thereof, Seller shall, to the extent directed by Xxxxx, terminate the delivery of Products and any outstanding subcontracts provided for under this Agreement and take action regarding property in Seller’s possession in which Buyer has or may acquire an interest. Buyer shall have the right to take delivery of any portion of the Products in process for which Buyer shall make written request and pay Seller for any Products so requested and delivered in accordance with the terms of this Agreement. Other than payment for Products accepted, the only liability of Buyer for termination of this Agreement, in whole or in part, is reimbursement to Seller for all reasonable and verifiable costs incurred by Seller as a result of Buyer’s termination less the greater of either any amounts received by Seller on resale of the affected Products in process or the reasonable value of such Products in process. Such payment by Buyer shall in no event exceed the original price specified in the Purchase Order and shall be in full satisfaction of all claims that Seller may have against the Buyer under this Agreement in connection with Buyer’s termination of this Agreement. Seller waives all consequential damages as a result of Xxxxx’s termination of this Agreement.
Appears in 4 contracts
Samples: Purchase Order, Purchase Order, Purchase Order
TERMINATION OF PURCHASE ORDERS. In addition to its rights under Section 11 below, Buyer may terminate this Agreement at any time with or without cause by written notice to Seller. Upon receipt thereof, Seller shall, to the extent directed by Xxxxx, terminate the delivery of Products and any outstanding subcontracts provided for under this Agreement and take action regarding property in Seller’s possession in which Buyer has or may acquire an interest. Buyer shall have the right to take delivery of any portion of the Products in process for which Buyer shall make written request and pay Seller for any Products so requested and delivered in accordance with the terms of this Agreement. Other than payment for Products accepted, the only liability of Buyer for termination of this Agreement, in whole or in part, is reimbursement to Seller for all reasonable and verifiable costs incurred by Seller as a result of Buyer’s termination less the greater of either any amounts received by Seller on resale of the affected Products in process or the reasonable value of such Products in process. Such payment by Buyer shall in no event exceed the original price specified in the Purchase Order and shall be in full satisfaction of all claims that Seller may have against the Buyer under this Agreement in connection with Buyer’s termination of this Agreement. Seller waives all consequential damages as a result of Xxxxx’s termination of this Agreement.
Appears in 3 contracts
Samples: Purchase Order, Purchase Order, Purchase Order
