Common use of Penalty Clause Clause in Contracts

Penalty Clause. In the event of a breach by Seller of any of the provisions of this terms and conditions, Buyer will put Seller on Notice, and Buyer and Seller shall engage in good faith negotiations concerning Seller’s breach and the amount of payment due to Buyer to address Seller’s breach, and without prejudice to any other rights provided for by law or under this agreement such as the right to specific performance, the right to an injunction.