Common use of Default of Seller Clause in Contracts

Default of Seller. The provisions of FAR 52.249-8, “Default (Fixed-Price Supply and Service),” in effect on the date of this order are incorporated in this paragraph by reference as follows: Subparagraphs (a), (b), (e), and (f), except for the third sentence thereof, (g) and (h). Where necessary to make this FAR provision applicable to this purchase order, “Contractor” shall mean “Seller,” “Contracting Officer” shall mean “Northrop Grumman” and “Government” shall mean “Northrop Grumman” or “Government.” If bankruptcy, insolvency, dissolution, receivership or equivalent proceedings shall be instituted by or against Seller, or upon Seller’s making any assignment for the benefit of creditors or entering into any such arrangement or upon Seller’s suspension of its business or becoming insolvent, Northrop Grumman shall have the right to terminate this purchase order in accordance with FAR 52.249-8.