Common use of Remedies Upon Default by RES Clause in Contracts

Remedies Upon Default by RES. In the Event of Default by RES, Customer shall have the choice of one or more of the following remedies without waiving any other rights or remedies in law or equity: (i) Exercise any and all remedies available at law or equity, or institute other proceedings, including, without limitation, bringing an action or actions from time to time for specific performance, and/or for the recovery of amounts due and unpaid and/or for damages; (ii) If the payments under this Agreement have not been assigned, Customer may set off or counterclaim against its obligation to make any of the payments provided in default; or (iii) RES will be liable to Customer for damages incurred by Customer as a result of any default by RES. Such damages may include, but are not limited to: (a) payments made to RES or its assignee which represents payment towards a unit of Equipment for which acceptance was revoked because of a latent defect (b) the difference in price between the market price of the Equipment which was not delivered or which was rejected (or the actual purchase price if Customer purchases replacements (like Equipment) for any undelivered or rejected unit of Equipment) and the purchase price indicated in the Agreement for such units of Equipment)

Remedies Upon Default by RES. In the Event of Default by RES, Customer shall have the choice of one or more of the following remedies without waiving any other rights or remedies in law or equity: (i) Exercise any and all remedies available at law or equity, or institute other proceedings, including, without limitation, bringing an action or actions from time to time for specific performance, and/or for the recovery of amounts due and unpaid and/or for damages; (ii) If the payments under this Agreement have not been assigned, Customer may set off or counterclaim against its obligation to make any of the payments provided in default; or (iii) RES will be liable to Customer for damages incurred by Customer as a result of any default by RES. Such damages may include, but are not limited to: (a) payments made to RES or its assignee which represents payment towards Work performed or a unit of Equipment for which acceptance was revoked because of a latent defect (b) the difference in price between the market price of the Equipment which was not delivered or which was rejected (or the actual purchase price if Customer purchases replacements (like Equipment) for any undelivered or rejected unit of Equipment) and the purchase price indicated in the Agreement for such units of Equipment)) (c) damages as a result of breach of warranty, failure to meet specifications, or damages incurred by Customer resulting from the Work or delivery of Equipment which is defective or fails to meet specifications, or resulting from RES's failure to comply with any other requirements of this Agreement, and (d) any other damages recoverable by law.