Common use of Termination or Cancellation Clause in Contracts

Termination or Cancellation. 12.1. Supplier may terminate the Agreement or suspend performance under it (and/or terminate or suspend performance under any other agreement for supplies) with immediate effect and without liability by giving written notice to Buyer if: 12.1.1. ▇▇▇▇▇ commits a material breach of any term of the Agreement and (if such breach is remediable) Buyer fails to remedy that breach within fourteen (14) days of being notified to do so; 12.1.2. Buyer fails to pay any amount when properly due under the Agreement; or 12.1.3. Buyer suffers an Insolvency Event. 12.2. Buyer shall not be entitled to cancel or terminate any Agreement, whether by reason of any act, omission or default on the part of Supplier or otherwise, and its rights to do so (including any rights to do so at common law) are excluded. 12.3. On termination of the Agreement for any reason, all outstanding amounts under the Agreement will become due and payable by Buyer from the date of termination. 12.4. Termination of the Agreement, however arising, shall not affect any of the parties’ rights and remedies that have accrued as at termination. Conditions which expressly or by implication survive the termination of the Agreement shall continue in full force and effect.