Common use of DEMAND FOR ADEQUATE ASSURANCE Clause in Contracts

DEMAND FOR ADEQUATE ASSURANCE. Given the critical nature for Buyer to be able to supply its customer(s) with goods on a “just in time” basis, should Buyer reasonably determine itself to be insecure with the Seller’s performance, the Seller shall provide Buyer with written assurance of performance within forty-eight hours of a written demand by Buyer. It is understood that this is a material provision of the relationship between the parties. This provision supersedes the normal time periods associated with a demand for adequate assurance as provided for in Section 2-609 of the Uniform Commercial Code.

DEMAND FOR ADEQUATE ASSURANCE. Given the critical nature for Buyer to be able to supply its customer(s) with goods on a “just in time” basis, should Buyer reasonably determine itself to be insecure with the Seller’s performance, the Seller shall provide Buyer with written assurance of performance within forty-eight hours of a written demand by BuyerXxxxx. It is understood that this is a material provision of the relationship between the parties. This provision supersedes the normal time periods associated with a demand for adequate assurance as provided for in Section 2-609 of the Uniform Commercial Code.

DEMAND FOR ADEQUATE ASSURANCE. Given the critical nature for Buyer to be able to supply its customer(s) with goods on a “just in time” basis, should Buyer reasonably determine itself to be insecure with the Seller’s performance, the Seller shall provide Buyer with written assurance of performance within forty-eight hours of a written demand by Buyer. It is understood that this is a material provision of the relationship between the parties. This provision supersedes the normal time periods associated with a demand for adequate assurance as provided for in Section 2-609 of the Uniform Commercial Code4 here above.