Common use of BANKRUPTCY OR INSOLVENCY OF BUYER Clause in Contracts

BANKRUPTCY OR INSOLVENCY OF BUYER. If the financial conditions of the Buyer at any time is such as to give Seller, in its judgment, reasonable grounds for insecurity concerning Buyer’s ability to perform its obligations under this agreement. Seller may (a) by notice in writing to Buyer, cancel this agreement, without judicial intervention or declaration of default of Buyer and without prejudice to any right or remedy which may have accrued or may accrue thereafter to Seller, (b) require full or partial payment in advance and suspend any further deliveries for continuance of the work to be performed by Seller until such payment has been received or (c) make shipments C.O.D.

BANKRUPTCY OR INSOLVENCY OF BUYER. If the financial conditions of the Buyer at any time is such as to give Seller, in its judgment, reasonable grounds for insecurity concerning Buyer’s ability to perform its obligations under this agreementAgreement. Seller may (a) by notice in writing to Buyer, cancel this agreementAgreement, without judicial intervention or declaration of default of Buyer and without prejudice to any right or remedy which may have accrued or may accrue thereafter to Seller, (b) require full or partial payment in advance and suspend any further deliveries for continuance of the work to be performed by Seller until such payment has been received or (c) make shipments C.O.D.

BANKRUPTCY OR INSOLVENCY OF BUYER. If the financial conditions condition of the Buyer at any time is such as to give Seller, Seller in its judgmentjudgement, reasonable grounds for insecurity concerning Buyer’s ability to perform its obligations under this agreement. , Seller may (a) by notice in writing to Buyer, cancel this agreement, without judicial intervention or declaration of default of Buyer and without prejudice to any right or remedy which may have accrued or may accrue thereafter to Seller, (b) require full or partial payment in advance and suspend any further deliveries for (or continuance of the work work, to be performed by Seller Seller) until such payment has been received or (c) make shipments C.O.D.