Common use of NEW OR CHANGED REGULATIONS Clause in Contracts

NEW OR CHANGED REGULATIONS. Seller enters this Agreement relying upon the laws and regulations in effect on the date the price of Product was offered to Buyer (collectively referred to as “Regulations”). If at any time during the term of this Agreement any Regulations are changed and the change has an adverse economic effect on Seller under this Agreement and such change is not addressed by any other provision of this Agreement, then Seller at its option may provide written notice to Buyer of adjusted Agreement terms to reflect the change(s), listing the reason(s) for such change(s). If the Parties fail to agree to new terms within 15 days of the notice, Seller may terminate this Agreement without liability. Any deliveries made during the 15-day period shall be at the originally agreed terms and price adjusted to include the increase under this Section 23.

NEW OR CHANGED REGULATIONS. Seller enters this Agreement relying upon the laws and regulations in effect on the date the price of Product was offered to Buyer (collectively referred to as “Regulations”). If at any time during the term of this Agreement any Regulations are changed and the change has an adverse economic effect on Seller under this Agreement and such change is not addressed by any other provision of this Agreement, then Seller at its option may provide written notice to Buyer of adjusted Agreement terms to reflect the change(s), listing the reason(s) for such change(s). If the Parties fail to agree to new terms within 15 days of the notice, Seller may terminate this Agreement without liability. Any deliveries made during the 15-day period shall be at the originally agreed terms and price adjusted to include the increase under this Section 2322.