Common use of Effect of Cancellation Clause in Contracts

Effect of Cancellation. In the event and to the extent of any cancellation under this clause, all obligations of the nondefaulting party and all rights of the defaulting party under the Contract shall thereupon be canceled but only with respect to the Maintenance covered by the cancellation notice, and all rights of the nondefaulting party and all accrued obligations of the defaulting party under the Contract shall survive.

Appears in 3 contracts

Sources: Computer Hardware Maintenance Agreement, Computer Hardware Maintenance Agreement, Computer Hardware Maintenance Agreement

Effect of Cancellation. In the event and to the extent of any cancellation under this clause, all obligations of the nondefaulting party and all rights and licenses of the defaulting party under the Contract Purchase Order shall thereupon be canceled canceled, but only with respect to the Maintenance Services covered by the cancellation notice, and all rights of the nondefaulting party and all accrued obligations of the defaulting party under the Contract Purchase Order shall survive.

Appears in 3 contracts

Sources: Data Subscription Services Agreement, Data Subscription Services Agreement, Data Subscription Services Agreement

Effect of Cancellation. In the event and to the extent of any cancellation under this clause, all obligations of the nondefaulting party and all rights and licenses of the defaulting party under the Purchase Contract shall thereupon be canceled canceled, but only with respect to the Maintenance Goods covered by the cancellation notice, and all rights and licenses of the nondefaulting party and all accrued obligations of the defaulting party under the Purchase Contract shall survive.. 24

Appears in 1 contract

Sources: Corporate Software License Agreement (TMS Inc /Ok/)