Common use of Customer's Default Clause in Contracts

Customer's Default. TEMPOSONICS may, upon written notice to Customer, cancel any or all orders or agreements effective immediately if: (a) in TEMPOSONICS’ opinion, Customer’s financial condition deteriorates to be detrimental to TEMPOSONICS’ interest hereunder; (b) Customer fails to perform any obligations under these terms and such failure is not remedied within fifteen (15) calendar days after notice has been given to Customer; (c) Customer fails to pay in accordance with any invoice payment terms; or (d) any change occurs in the direct or indirect ownership of Customer if, in TEMPOSONICS’ opinion, such change may be detrimental to TEMPOSONICS’ interest hereunder. Any cancellation pursuant to this Section will be in addition to and will not be exclusive of or prejudicial to any other rights or remedies at law or in equity available to TEMPOSONICS.