Common use of Termination Clause in Contracts

Termination. Golden Monkey may terminate this Order in whole or in part at any time whenever the Goods specified herein are no longer required by Golden Monkey, upon written notice to the Seller within 30 days prior to the effective date of the termination. If, upon such termination, Golden Monkey and Seller cannot negotiate a mutually satisfactory settlement within a reasonable time, Golden Monkey will pay Seller, and Seller shall accept one of the following solutions as full settlement: (a) Contract price for completed items; or (b) Seller's direct cost allocated to terminated portion of this Order; or (c) Reasonable direct costs of Seller in settling claims arising out of this termination, and in protecting property in which Golden Monkey has or may acquire an interest. In no event shall Golden Monkey be liable for any consequential, indirect, special or punitive damages. 20. 税:本订单所述的价格不应包括在本订单之日有效的税以及就本订单包含的货物或该等货物组成部分的生产、销售或使用征收或计征的税。

Appears in 3 contracts

Sources: Purchase Order, Purchase Order, 采购订单