Common use of Acceptance, Rejection, and Cancellation of Purchase Orders Clause in Contracts

Acceptance, Rejection, and Cancellation of Purchase Orders. Fastrain shall confirm to EMCORE the receipt of each Purchase Order issued hereunder and corresponding delivery date (each, a "Confirmation") within two Business Days following Fastrain's receipt thereof. Each Confirmation must reference EMCORE's Purchase Order number, confirm acceptance of the Purchase Order or, solely if permitted under this Section 3.2, advise EMCORE of Fastrain's rejection of such Purchase Order, the date of acceptance or rejection and the basis for rejection, if applicable. If Fastrain fails to issue a Confirmation within two Business Days following Fastrain's receipt thereof or otherwise commences performance under such Purchase Order, Fastrain will be deemed to have accepted the Purchase Order. EMCORE may withdraw any Purchase Order prior to Fastrain's acceptance thereof. Fastrain may reject a Purchase Order if Fastrain has sent EMCORE a Notice of termination under Section 6.5. Except as otherwise agreed in this Agreement, Fastrain may not cancel any previously accepted Purchase Order hereunder. EMCORE may only cancel a previously accepted Purchase Order (i) pursuant to the exercise of EMCORE's rights under Section 4.1 or (ii) upon mutual agreement of the Parties, provided the EMCORE shall be liable for the reasonable storage and freight costs of the forwarder due to the canceled delivery. If EMCORE cancels a purchase order for finished goods, Fastrain shall immediately stop the delivery, and any Products with aging more than forty five (45) days shall be subject to Section 7.2.

Acceptance, Rejection, and Cancellation of Purchase Orders. Fastrain Hytera shall confirm to EMCORE the receipt of each Purchase Order issued hereunder and corresponding delivery date (each, a "Confirmation") within two Business Days following FastrainHytera's receipt thereof. Each Confirmation must reference EMCORE's Purchase Order number, confirm acceptance of the Purchase Order or, solely if permitted under this Section 3.2, advise EMCORE of FastrainHytera's rejection of such Purchase Order, the date of acceptance or rejection and the basis for rejection, if applicable. If Fastrain Hytera fails to issue a Confirmation within two Business Days following FastrainHytera's receipt thereof or otherwise commences performance under such Purchase Order, Fastrain Hytera will be deemed to have accepted the Purchase Order. EMCORE may withdraw any Purchase Order prior to FastrainHytera's acceptance thereof. Fastrain Hytera may reject a Purchase Order if Fastrain Hytera has sent EMCORE a Notice of termination under Section 6.5. Except as otherwise agreed in this Agreement, Fastrain Hytera may not cancel any previously accepted Purchase Order hereunder. EMCORE may only cancel a previously accepted Purchase Order (i) pursuant to the exercise of EMCORE's rights under Section 4.1 or (ii) upon mutual agreement of the Parties, provided the EMCORE shall be liable for the reasonable storage and freight costs of the forwarder due to the canceled delivery. If EMCORE cancels a purchase order for finished goods, Fastrain Hytera shall immediately stop the delivery, and the any Products with aging more than forty five (45) 120 calendar days shall be subject defined as excess inventory. If EMCORE cancels a purchase order for works in process, Hytera shall immediately stop the process of manufacturing with respect to Section 7.2such purchase order, and any corresponding WIP with aging more than 120 calendar days shall be defined as excess inventory. EMCORE may postpone the delivery date on a Purchase Order by providing at least two Business Days advance written Notice, and, if made with less than 10 Business Days written notice, shall be liable for the reasonable storage and freight costs of the forwarder due to the delayed delivery.