Common use of Post-Termination Actions Clause in Contracts

Post-Termination Actions. Upon expiration or termination of this Agreement for any reason, the parties shall have the following rights and obligations: (i) all unpaid invoices shall automatically become due and payable on the effective date of termination, even if longer terms had been previously provided or allowed; and (ii) upon notice of termination, Forte shall be entitled to withhold any or all credits to IPC’s account for any purchase of Product made by customers who use IPC’s identification code in connection with such purchase, or for whom IPC’s identification code has been stored in Forte’s system.