Common use of For Default Clause in Contracts

For Default. (i) XXXXXXX may by written Notice of Default to SUPPLIER, terminate this Purchase Order in whole or in part, or, at XXXXXXX’x sole discretion, require SUPPLIER to post such financial assurance as XXXXXXX xxxxx reasonably necessary, if SUPPLIER fails to: (1) deliver ARTICLES within the time specified in this Purchase Order or any extension; (2) make progress, so as to endanger performance of this Purchase Order, or (3) perform any of the other provisions of this Purchase Order. (ii) XXXXXXX may require SUPPLIER to transfer title and deliver to XXXXXXX, in the manner and to the extent directed by XXXXXXX, any partially completed ARTICLES and raw materials as SUPPLIER has produced or acquired for the performance of this Purchase Order, including the assignment to XXXXXXX of SUPPLIER’s subcontracts. XXXXXXXX further agrees to protect and preserve property in the possession of SUPPLIER in which XXXXXXX has an interest. Payment for completed ARTICLES delivered to and accepted by XXXXXXX shall be at the Purchase Order price. Payment for unfinished ARTICLES, which have been delivered to and accepted by XXXXXXX and for the protection and preservation of property, shall be at a price determined in the same manner as provided in the Termination for Convenience provision hereof except that SUPPLER shall not be entitled to profit. XXXXXXX may withhold from SUPPLIER moneys otherwise due SUPPLIER for completed ARTICLES in such amounts as XXXXXXX determines necessary to protect XXXXXXX against loss due to outstanding liens or claims against such ARTICLES.

For Default. (i) XXXXXXX may by written Notice of Default to SUPPLIER, terminate this Purchase Order in whole or in part, or, at XXXXXXX’x sole discretion, require SUPPLIER to post such financial assurance as XXXXXXX xxxxx reasonably necessary, if SUPPLIER fails to: (1a) deliver ARTICLES within the time specified in this Purchase Order or any extension; (2b) make progress, so as to endanger performance of this Purchase Order, or or, (3c) perform any of the other provisions of this Purchase Order. (ii) XXXXXXX may require SUPPLIER to transfer title and deliver to XXXXXXX, in the manner and to the extent directed by XXXXXXX, any partially completed ARTICLES and raw materials as SUPPLIER has produced or acquired for the performance of this Purchase Order, including the assignment to XXXXXXX of SUPPLIER’s subcontracts. XXXXXXXX further agrees to protect and preserve property in the possession of SUPPLIER in which XXXXXXX has an interest. Payment for completed ARTICLES delivered to and accepted by XXXXXXX shall be at the Purchase Order price. Payment for unfinished ARTICLES, which have been delivered to and accepted by XXXXXXX and for the protection and preservation of property, shall be at a price determined in the same manner as provided in the Termination for Convenience provision hereof except that SUPPLER shall not be entitled to profit. XXXXXXX may withhold from SUPPLIER moneys otherwise due SUPPLIER for completed ARTICLES in such amounts as XXXXXXX determines necessary to protect XXXXXXX against loss due to outstanding liens or claims against such ARTICLES.