Common use of Contract Cancellation Clause in Contracts

Contract Cancellation. By written notice and without a cure period, Buyer may cancel the whole Contract, or any part of this Contract, in the event of the suspension of Seller’s business, insolvency of Seller, institution of bankruptcy, liquidation proceedings by or against Seller, appointment of a trustee or receiver for Seller’s property or business, any assignment, reorganization, or arrangement by Seller for the benefit of creditors, or the debarment or suspension of Seller by any Government agency. ▇▇▇▇▇’s remedies in the event of a cancellation of the Contract pursuant to this ¶ 18 shall be the same as set forth in ¶ 19, TERMINATION FOR DEFAULT.

Contract Cancellation. By written notice and without a cure period, Buyer may cancel the whole Contract, or any part of this Contract, in the event of the suspension of Seller’s business, insolvency of Seller, institution of bankruptcy, liquidation proceedings by or against Seller, appointment of a trustee or receiver for Seller’s property or business, any assignment, reorganization, or arrangement by Seller for the benefit of creditors, or the debarment or suspension of Seller by any Government agency. ▇▇▇▇▇’s remedies in the event of a cancellation of the Contract pursuant to this ¶ 18 16 shall be the same as set forth in ¶ 1917, TERMINATION FOR DEFAULT.