Common use of CANCELLATION OR VARIATION Clause in Contracts

CANCELLATION OR VARIATION. An order may at GPW Group Pty Ltd option be terminated in the event of insolvency of the Customer or of execution being levied against any of the goods of the Customer or the Customer being placed in liquidation whether voluntary or otherwise. An order may be cancelled or varied by the Customer only if such cancellation or variation is accepted by GPW Group Pty Ltd in writing and any such variation or cancellation shall only occur on terms which will reimburse GPW Group Pty Ltd for any costs or loss (including but not limited to loss of profit) incurred.