Common use of Terminations Clause in Contracts

Terminations. Any order for a standard Product with a published price accepted by Seller and terminated by Buyer within 10 days prior to shipment, may be subject to a termination charge of not less than ten percent (10%) of the order value to cover costs or processing and order handlings; thereafter no such order may be terminated except by mutual agreement in writing. No order for non---standard products or products without a published price may be terminated by Buyer except by mutual agreement in writing. Terminations by mutual agreement are subject to the following conditions: a. Buyer will pay, at applicable contract prices, for all Products that are completely manufactured and allocable to Buyer at the time of Seller’s receipt of notice of termination; b. Buyer will pay all costs, direct and indirect, which may have been incurred by Seller with regard to Products which have not been completely manufactured at the time of Seller’s receipt of notice of termination, plus a pro rata portion of the normal profit on the contract; c. Buyer will pay a termination charge on all other Products affected by the termination. Seller’s normal accounting practices shall be used to determine costs and other charges. To reduce termination charges, Seller will divert completed parts, material or work---in--- progress from terminated contracts to other customers whenever, in the Seller’s sole discretion, it is practicable to do so. In the event of a termination, Buyer will have no rights in partially completed goods.

Terminations. Any order for a standard Product with a published price accepted by Seller and terminated by Buyer within 10 days prior to shipment, may shall be subject to a termination charge of not less than ten percent (10%) of the order value to cover costs or of processing and order handlings; . Termination thereof within thirty (30) days before shipment shall be subject to a written acceptance by Seller and termination charge of not less than twenty-five percent (25%) of the order value, thereafter no such order may be terminated except by mutual agreement in writing. No order for non---standard nonstandard products or products without a published price may be terminated by Buyer except by mutual agreement in writing. Terminations by mutual agreement are subject to the following conditions: a. (a) Buyer will pay, at applicable contract prices, for all Products that which are completely manufactured and allocable to Buyer at the time of Seller’s receipt of notice of termination; b. (b) Buyer will pay all costs, direct and indirect, which may have been incurred by Seller with regard to Products which have not been completely manufactured at the time of Seller’s receipt of notice of termination, plus a pro rata portion of the normal profit on the contract; c. (c) Buyer will pay a termination charge on all other Products affected by the termination. Seller’s normal accounting practices shall be used to determine costs and other charges. To reduce termination charges, Seller will divert completed parts, material or work---in--- -in-progress from terminated contracts to other customers whenever, in the Seller’s sole discretion, it is practicable to do so. In the event of a termination, Buyer will have no rights in partially completed goods.

Terminations. Any order for a standard Product with a published price accepted by Seller and terminated by Buyer within 10 days prior to shipment, may be subject to a termination charge of not less than ten percent (10%) of the order value to cover costs or processing and order handlings; thereafter no such order may be terminated except by mutual agreement in writing. No order for non---standard non-­‐standard products or products without a published price may be terminated by Buyer except by mutual agreement in writing. Terminations by mutual agreement are subject to the following conditions: a. Buyer will pay, at applicable contract prices, for all Products that are completely manufactured and allocable to Buyer at the time of Seller’s receipt of notice of termination; b. Buyer will pay all costs, direct and indirect, which may have been incurred by Seller with regard to Products which have not been completely manufactured at the time of Seller’s receipt of notice of termination, plus a pro rata portion of the normal profit on the contract; c. Buyer will pay a termination charge on all other Products affected by the termination. Seller’s normal accounting practices shall be used to determine costs and other charges. To reduce termination charges, Seller will divert completed parts, material or work---in--- work-­‐in-­‐ progress from terminated contracts to other customers whenever, in the Seller’s sole discretion, it is practicable to do so. In the event of a termination, Buyer will have no rights in partially completed goods.