Common use of Cancellation Payment Clause in Contracts

Cancellation Payment. In the event and to the extent of any cancellation by Seller under this clause, ▇▇▇▇▇'s total liability shall be to pay Seller for the Goods delivered and accepted, but not paid for under the Contract, on or prior to the effective date of cancellation. Buyer may return, and Seller shall have no claim against ▇▇▇▇▇ for, Goods not accepted by ▇▇▇▇▇ or for rejected Goods. In addition, Seller shall promptly provide to Buyer a pro rata refund of prepaid fees. Seller shall give Buyer 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. Seller hereby waives, releases, and renounces any claim for compensation not made within this period.