CANCELLATION FOR DEFAULT Clause Samples
The "Cancellation for Default" clause allows one party to terminate a contract if the other party fails to meet essential obligations, such as missing deadlines or not performing required duties. Typically, this clause outlines the specific events that constitute a default, the process for notifying the defaulting party, and any opportunity to remedy the breach before cancellation occurs. Its core function is to protect parties from ongoing non-performance by providing a clear mechanism to end the agreement and seek remedies if the other side does not fulfill their contractual commitments.
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CANCELLATION FOR DEFAULT. In the event Contractor is in default of any of its obligations under the Contract, Con Edison shall have the right, on written notice to Contractor and any sureties, to cancel the Contract for default. Contractor shall be deemed to be in default hereunder if it is in default of any of its obligations under the Contract or makes any statement or performs any act indicating that it will not perform one or more of such obligations (whether or not the time has yet arrived for performance thereof) or rejects the Contract under the United States Bankruptcy Code or ceases to pay its debts promptly or becomes insolvent or commences or has commenced against it any insolvency proceeding or finds its affairs placed in the hands of a receiver, trustee, or assignee for the benefit of creditors. In the event of cancellation for default hereunder, Article 33 (Termination for Convenience), shall not apply, and Con Edison shall have all rights and remedies provided by law and the Contract. Without intending to limit the generality of the foregoing, it is specifically understood and agreed that Con ▇▇▇▇▇▇ shall have the right, at its election and without prejudice to any other remedies, (i) to exclude Contractor from the construction site, or any portion of the construction site, (ii) to complete or employ a third party to complete the Work or any portion of the Work, and hold Contractor liable for any additional cost occasioned thereby, (iii) to take possession of any or all materials, tools, equipment and appliances at the construction site for the purpose of completing the Work or any portion of the Work, (iv) to compel Contractor to assign any or all subcontracts with Subcontractors to Con Edison without additional cost or expense to Con Edison, and/or (v) to negotiate new contractual arrangements with Subcontractors for such Subcontractors to complete all or any portion of the work on terms agreeable to Con Edison. Upon Con ▇▇▇▇▇▇'s request, Contractor shall promptly provide Con ▇▇▇▇▇▇ with Contractor's sworn statement stating, for each subcontract with each Subcontractor (i) the original price of the subcontract and the price of each change order thereunder together with a description of each such change order, (ii) the amount that Contractor paid under the subcontract and each change order thereunder, and (iii) the amount of retention held by Contractor under the subcontract and each change order thereunder. Following cancellation of the Contract for default, Contra...
CANCELLATION FOR DEFAULT a. Buyer may, by written notice to Seller, cancel all or part of this Contract: (i) if Seller fails to deliver the Goods within the time specified by this Contract or any written extension; (ii) if Seller fails to perform any other provision of this Contract or fails to make progress, so as to endanger performance of this Contract, and, in either of these two circumstances, within ten (10) days after receipt of notice from Buyer specifying the failure, does not cure the failure or provide Buyer with a written detailed plan adequate to cure the failure if such failure reasonably cannot be cured within such ten (10) days and such plan is acceptable to Buyer’s Authorized Procurement Representative; or (iii) in the event of Seller's bankruptcy, suspension of business, insolvency, appointment of a receiver for Seller's property or business, or any assignment, reorganization or arrangement by Seller for the benefit of its creditors.
b. Seller shall continue all work not canceled.
c. Buyer may require Seller to transfer title and deliver to Buyer, as directed by ▇▇▇▇▇, any (i) completed Goods, and
CANCELLATION FOR DEFAULT a. Buyer may, by written notice to Seller, cancel all or part of this contract if (i) Seller fails to deliver the Goods within the time specified by this contract or any written extension; (ii) Seller fails to perform any other provision of this contract or fails to make progress, so as to endanger performance of this contract, and, in either of these two circumstances, does not cure the failure within 10 days after receipt of notice from Buyer specifying the failure; or
CANCELLATION FOR DEFAULT. 22.1. Either party may cancel this Agreement and/or any Order(s), in whole or part, without liability, by giving written notice of breach or default if the other (1) becomes insolvent, unable to pay debts when due, or the subject of bankruptcy proceedings not terminated within thirty (30) days of any filing; or makes a general assignment for the benefit of creditors; or if a receiver is appointed for substantially all of its property; or (2) materially breaches or defaults on its obligations under this Agreement and, if the breach or default can be cured, fails to cure the breach or default within thirty (30) days after receipt of written notice to cure; or (3) commits breaches on obligations other than payment, repetitively, or at least three separate significant times within any four-month period. Customer may cancel any Order(s) in whole or in part, without liability, if Supplier fails to Deliver conforming Purchases under that Order on time.
22.2. If Services are being provided, Customer shall have the right to take over and complete the Services at Supplier's expense.
22.3. If Customer cancels this Agreement and/or any Order(s) for Supplier's default or breach, it shall be entitled to recover from Supplier all losses, damages and expenses incurred as a result of Supplier's default or breach. Supplier shall refund to Customer amounts previously paid for Purchases which, due to such cancellation, cannot reasonably be used by Customer, and shall bear all expenses for their removal and return. Supplier shall, at Customer's option, promptly remove Purchases or bear the cost of removal. Supplier shall restore or bear the expenses of restoration of Customer's property to its original condition at the direction of Customer and refund to Customer all monies previously paid for such Purchases.
22.4. If Supplier cancels this Agreement and/or any Order(s) for Customer's default or breach, it may recover from Customer reasonable expenses incurred as a direct result of Customer's default or breach, which shall not exceed the amounts which Customer has not yet paid under the terms hereof. Customer shall not be liable for incidental, consequential or indirect damages, including but not limited to lost profits or unallocated overhead.
22.5. Any cancellation by Customer under this Article which is set aside or deemed wrongful will be deemed a termination under Article 21 "Termination of Agreement or Order(s)" of this Agreement.
CANCELLATION FOR DEFAULT a. Buyer may, by written notice to Seller, cancel all or part of this contract (i) if Seller fails to deliver the Services within the time specified by this contract or any written extension; (ii) if Seller fails to perform any other provision of this contract or fails to make progress, so as to endanger performance of this contract, and, in either of these two circumstances, does not cure the failure within 10 days after receipt of notice from Buyer specifying the failure; or (iii) in the event of Seller's bankruptcy, suspension of business, insolvency, appointment of a receiver for Seller's property or business, or any assignment, reorganization or arrangement by Seller for the benefit of its creditors.
b. Seller shall continue work not canceled.
CANCELLATION FOR DEFAULT. In the event Seller shall be adjudged bankrupt, make a general assignment for the benefit of its creditors, or if a receiver shall be appointed on account of Seller's insolvency, or in the event Seller is in default of any material provisions or requirement of this Purchase Order, Buyer may, by written notice to Seller, without prejudice to any other rights or remedies which Buyer may have, cancel further performance by Seller under this Purchase Order, in whole or in part. In the event of such cancellation, Buyer may complete the performance of the terminated portions of this Purchase Order by such means as Buyer selects, and Seller shall be responsible for any additional costs incurred by Buyer in so doing.
CANCELLATION FOR DEFAULT. Buyer may, in its sole discretion, cancel this Purchase Order in whole or from time to time in part, effective as of the date specified by Buyer, in accordance with provisions of FAR 52.249-8 (APR 1984; without Alternates), which provisions are incorporated herein by reference, in the event of any Seller default or in the event of Seller’s suspension of business, insolvency, reorganization or
CANCELLATION FOR DEFAULT a. Buyer may, by written notice to Seller, cancel all or part of this Contract: (i) if Seller fails to deliver the Services within the time specified by this Contract or any written extension; or (ii) if Seller fails to perform any other provision of this Contract or fails to make progress, so as to endanger performance of this Contract, and, in either of these two circumstances, within ten (10) days after receipt of notice from Buyer specifying the failure, does not cure the failure or provide Buyer with a written detailed plan adequate to cure the failure if such failure reasonably cannot be cured within such ten (10) days and such plan is acceptable to ▇▇▇▇▇’s Authorized Procurement Representative. Seller shall continue work not canceled.
b. Seller shall continue all Services not canceled. In the event Buyer cancels this contract for default, Buyer may require Seller to deliver to Buyer all work in process existing as of the date of cancellation.
CANCELLATION FOR DEFAULT a. Buyer may, by written notice to Seller, cancel all or part of this Contract: (i) if Seller fails to deliver the Services within the time specified by this Contract or any written extension; (ii) if Seller fails to perform any other provision of this Contract or fails to make progress, so as to endanger performance of this Contract, and, in either of these two circumstances, within ten (10) days after receipt of notice from Buyer specifying the failure, does not cure the failure or provide Buyer with a written detailed plan adequate to cure the failure if such failure reasonably cannot be cured within such ten (10) days and such plan is acceptable to Buyer’s Authorized Procurement Representative; or (iii) in the event of Seller's bankruptcy, suspension of business, insolvency, appointment of a receiver for Seller's property or business, or any assignment, reorganization or arrangement by Seller for the benefit of its creditors.
b. Seller shall continue Services not canceled. If Buyer cancels all or part of this Contract, Seller shall be liable for Buyer’s excess re-procurement costs.
c. Buyer may require Seller to transfer title and deliver to Buyer, as directed by ▇▇▇▇▇, any (i) completed goods, and
CANCELLATION FOR DEFAULT. Should Seller be adjudged bankrupt, make a general assignment for the benefit of its creditors, participate in general agreements with its creditors or business reorganization procedures or if a receiver is appointed on account of Seller's insolvency or if Seller is otherwise insolvent as evidenced by its incapacity to timely pay its debts as they become due or, in the event that Seller is in default of any provision or requirement under this Purchase Order, Buyer may, by written notice to Seller and without prejudice to any other rights or remedies which Buyer may have, cancel further performance by Seller under this Purchase Order. In the event of such cancellation Seller shall be liable for any and all additional costs and expenses incurred by Buyer to complete the performance of this Purchase Order or otherwise derived from Seller's default. Seller shall deliver or assign to Buyer any work in progress as Buyer may request. Any amounts due to Seller for goods or services completed by Seller in strict compliance with the terms and conditions of this Purchase Order prior to such cancellation, shall be subject to set off with Buyer's additional costs for completing the Purchase Order and other damages incurred by Buyer as a result of Seller's default.