Common use of Cancellation Payment Clause in Contracts

Cancellation Payment. In the event and to the extent of any cancellation by Seller under this clause, Buyer's total liability shall be to pay Seller for the Maintenance performed on or before the effective date of cancellation, but not paid for under the Contract. Seller shall give Buyer written notice of its intent to submit any claims for compensation under this clause within ten (10) days after the effective date of cancellation and shall submit all such claims within thirty (30) days after the effective date of cancellation. Seller hereby waives, releases, and renounces any claim for compensation not made within this period.

Cancellation Payment. In the event and to the extent of any cancellation by Seller under this clause, BuyerXxxxx's total liability shall be to pay Seller for the Maintenance performed on or before the effective date of cancellation, but not paid for under the Contract. Seller shall give Buyer written notice of its intent to submit any claims for compensation under this clause within ten (10) days after the effective date of cancellation and shall submit all such claims within thirty (30) days after the effective date of cancellation. Seller hereby waives, releases, and renounces any claim for compensation not made within this period.