Common use of OBLIGATION UPON TERMINATION Clause in Contracts

OBLIGATION UPON TERMINATION. Within five (5) business days of the termination of this Agreement, regardless of how such termination occurs, Contractor will deliver to Carrier any and all bills of lading and other forms, advertising materials, and literature obtained by Contractor through or furnished by Carrier, stamps, permits, cards, licenses, registration plates or papers obtained by or on behalf of Carrier in furtherance of the operation of Contractor’s vehicles in the business of Carrier. Contractor is responsible, upon termination of this Agreement, for the return to Carrier of any and all identification devices, placards, or other means by which Contractor’s equipment has been identified as being operated in the service of Carrier. In the event Carrier’s identification has been permanently affixed to Contractor’s equipment, proof that such identification has been obliterated is required. In the event any identification devices furnished to Contractor by Carrier have been lost or stolen, an affidavit, signed and notarized to that effect, and identifying the circumstances of the loss or theft shall be provided Carrier by Contractor. Carrier may withhold any and all amounts, which may be due and owing Contractor upon termination until Contractor has complied with each and all of the provisions of this paragraph. All warranties, indemnifications and hold harmless provisions of this Agreement by Contractor in favor of Carrier shall survive termination of this Agreement, and shall remain in full force and effect until such time as all documents, placards, identification devices, licenses and all other items identified in this paragraph are returned to, and are in the possession of Carrier, and until all terms, conditions and obligations of the Contractor as included in this paragraph are satisfied. If reasonable evidence shows that the Contractor has violated this Agreement, Carrier may take possession of the commodities being transported by Contractor and complete such transportation. Contractor shall reimburse Carrier for any and all costs, expenses or damages incurred by the Carrier as a result o Carrier’s taking possession of the commodities and completing the transportation and/or receiving abandoned trailer and/or cargo.