Common use of Cancellation of Purchase Order Clause in Contracts

Cancellation of Purchase Order. (a) Sony reserves the right to cancel this Purchase Order, in whole or in part, (i) prior to receipt of Provider's acknowledgment hereof, or (ii) in advance of a delivery schedule set forth on the reverse side thereof without liability to Provider therefor. Sony may also cancel this Purchase Order, in whole or in part, upon Provider’s failure to observe and perform any of the terms and conditions hereof (including those that might otherwise be excused by force majeure or commercial impracticality) by giving Provider notice thereof and, in addition to any other remedies Sony may have at law or in equity therefor, Sony may purchase the goods or services covered hereby, in whole or in part, from an alternate vendor, and Provider will be liable to Sony for any loss incurred as a result thereof. (b) In the event of any institution of proceedings by or against Provider in bankruptcy or insolvency, or under any provision of the United States Bankruptcy Act, or if there is an appointment of receiver or trustee or an assignment for the benefit of creditors of Provider, Sony may cancel this Purchase Order by giving Provider notice thereof without liability to Provider therefor and without waiving any remedies it may have.

Cancellation of Purchase Order. (a) Sony reserves the right to cancel this Purchase Order, in whole or in part, (i) prior to receipt of Provider's acknowledgment hereof, or or (ii) in advance of a delivery schedule set forth on the reverse side thereof without liability to Provider therefor. Sony may also cancel this Purchase Order, in whole or in part, upon Provider’s failure to observe and perform any of the terms and conditions hereof (including those that might otherwise be excused by force majeure or commercial impracticality) by giving Provider notice thereof and, in addition to any other remedies Sony may have at law or in equity therefor, Sony may purchase the goods or services covered hereby, in whole or in part, from an alternate vendor, and Provider will be liable to Sony for any loss incurred as a result thereof. (b) In the event of any institution of proceedings by or against Provider in bankruptcy or insolvency, or under any provision of the United States Bankruptcy Act, or if there is an appointment of receiver or trustee or an assignment for the benefit of creditors of Provider, Sony may cancel this Purchase Order by giving Provider notice thereof without liability to Provider therefor and without waiving any remedies it may have.