Common use of Upon Termination for Default Clause in Contracts

Upon Termination for Default. In the event that the Non- Defaulting Party elects, at its option, to terminate this Agreement as provided in this Section 6.2, the Non-Defaulting shall calculate, and the Defaulting Party shall pay, the Termination Payment, which amount shall exclude any costs, Losses, liabilities, damages or expenses of any Purchaser in connection with the ▇▇▇▇ ▇▇▇▇▇. The payment of a Termination Payment shall be the sole and exclusive remedy available to the Non- Defaulting Party as a result of termination of this Agreement.

Appears in 2 contracts

Sources: Bill Credit Agreement, Bill Credit Agreement