Common use of Default in Payment Obligations Clause in Contracts

Default in Payment Obligations. In addition to all other remedies available to Baxter in the event of a Client default, if Client repeatedly fails to make payments as required hereunder, Baxter may refuse to Produce or make available for pick-up any Product until Client’s account is paid in full, or the Client has deposited the amount in dispute with an appropriate third-party escrow agent pending the final outcome of the dispute or placed the account on a letter of credit basis. The escrow agent shall be a commercial bank of high standing.

Default in Payment Obligations. In addition to all other remedies available to Baxter in the event of a Client default, if Client repeatedly fails to make payments as required hereunder, Baxter ▇▇▇▇▇▇ may refuse to Produce or make available for pick-up any Product until Client’s account is paid in full, or the Client has deposited the amount in dispute with an appropriate third-party escrow agent pending the final outcome of the dispute or placed the account on a letter of credit basis. The escrow agent shall be a commercial bank of high standing.