Common use of Default and Damages Clause in Contracts

Default and Damages. Where either the Lessor or the Lessee defaults on the stipulations of this Agreement, the other party may rescind this Agreement by providing written notice to the defaulting party. Either party may request from the other party damages incurred as a result of the rescission of this Agreement, and unless there is a separate agreement for damages, the contract price shall be the standard for damages.

Default and Damages. Where either the Lessor or the Lessee defaults on the stipulations contents of this Agreement, the other party may rescind this Agreement by providing giving a written notice to the defaulting party. Either party may request from the other party of damages incurred as a result of the rescission of this Agreement, and unless there is a separate agreement for damages, the contract price shall be the standard for damages.