Common use of Cancellation Payment Clause in Contracts

Cancellation Payment. In the event and to the extent of any cancellation by Supplier under this clause, Boeing's total liability shall be to pay Supplier for the Goods delivered and accepted, but not paid for under the Purchase Contract, on or prior to the effective date of cancellation. Boeing may return, and Supplier shall have no claim against Boeing for, Goods not accepted by Boeing or for rejected Goods. Supplier shall give Boeing written notice of its intent to submit any claims for compensation under this clause within thirty (30) days after the effective date of cancellation, and shall submit all such claims within sixty (60) days after the effective date of cancellation. Supplier hereby waives, releases, and renounces any claim for compensation not made within this period. d.