Common use of CANCELLATION FOR DELAY Clause in Contracts

CANCELLATION FOR DELAY. Promptly after LESSOR becomes aware that a delay will cause Delivery to be delayed beyond [REDACTED: Item 2], LESSOR will notify LESSEE. By written notice given to the other party within [REDACTED: Item 2] after LESSEE's receipt of such LESSOR notice, either party may terminate this Lease and this Lease will terminate on the date of receipt of such notice. In the event of such termination, neither party will have any further liability to the other party except that [REDACTED: Item 2]. If neither party gives notice of termination within such [REDACTED: Item 2], both parties lose all right to terminate under this Article 3.6 unless otherwise agreed in writing by the parties.

CANCELLATION FOR DELAY. Promptly after LESSOR becomes aware that a delay will cause Delivery to be delayed beyond [REDACTED: Item 2], LESSOR will notify LESSEE. By written notice given to the other party within [REDACTED: Item 2] after LESSEE's receipt of such LESSOR notice, either party may terminate this Lease and this Lease will terminate on the date of receipt of such notice. In the event of such termination, neither party will have any further liability to the other party except that [REDACTED: Item 2]. If neither party gives notice of termination within such [REDACTED: Item 2], both parties lose all right to terminate under this Article 3.6 unless otherwise agreed in writing by the parties.