Cancellation by Buyer. OEM Manufactured Parts, Coil and Pressure Vessel, Re-Built Pumps i. if cancellation occurs within thirty (30) days from the scheduled production completion or ship date, Seller shall complete production and hold such Products for Buyer's disposition, Buyer shall pay Seller (a) one hundred percent (100%) of order value, plus (b) any actual costs and direct overhead expenses incurred up to the point of cancellation and directly associated with fulfilling Buyer’s order including, but not limited to, engineering design, work-in-progress manufacturing, costs of materials and supplies procured (or definite commitments made by Seller), and cancellation fees or penalties charged to Seller by third party vendors (“Cancellation Charges”); ii. if cancellation occurs in advance of thirty (30) days from the scheduled production completion or ship date, Buyer shall pay Seller (a) fifteen percent (15%) of the order value, plus (b)
Appears in 3 contracts
Sources: Parts and Service Agreement, Parts and Service Agreement, Parts and Service Agreement