DEFAULT BY BUYER definition

DEFAULT BY BUYER. If Buyer fails, with or without cause, to furnish Seller with specifications and/or instructions for, or refuses to accept deliveries of any product herein sold, or is otherwise in default under or breaches or repudiates this or any other contract with Seller or fails to pay when due any invoice under said contract, all of the foregoing being known as events or event of default, then in addition to any and all other remedies which Seller may have hereunder or by law Seller without notice (1) may invoice and declare due and payable all undelivered products, whether finished or unfinished, under this or any other contract with Seller and/or (2) may defer shipment and delivery hereunder and under any other contract until such event (2) of default is (are) removed and/or (3) may cancel any undelivered portion of this and/or any other contract in whole or in part (Buyer remaining liable for damages including but not limited to the difference between the resale price of such undelivered portion and the contract price thereof) and/or (4) may declare forthwith due and payable all outstanding invoices of Buyer under this or any other contract and/or (5) may at any time and from time to time sell all or any products of Buyer or products held for Buyer for the account of Buyer at public or private sales, Buyer is to be responsible for the costs and expenses of such sale and for any deficiency, Seller accounting to Buyer for any excess (Seller having the right to become buyer of such products at any such sale) and/or (6) Seller may take possession of any products Buyer has failed or refused to receive with the right to hold or sell same as above provided. WARRANTY: SELLER HEREBY EXPRESSLY, EXCLUDES ALL EXPENSES AND IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS OR OTHERWISE, except such warranties as are set forth in this paragraph below ANY COMPONENT SUPPLIED BY PARTIES OVER WHOM SELLER HAS NO CONTROL AS TO THE QUALITY OF THE MANUFACTURE IS HEREBY EXPRESSLY EXCLUDED FROM ALL EXPRESS AND IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS OR OTHERWISE, except as set forth in the express written warranty of the supplier of such component. For complete warranty information, please refer to: WARRANTY TERMS AND CONDITIONS, RETURN, AND REPAIR INFORMATION SERVICE WARRANTY: Seller warrants and represents that any services performed by Seller or by an authorized subcontractor or agent of Seller pursuant to this Agreement shall be performed on a professional basis, consistent with ...
Sample 1Sample 2

Examples of DEFAULT BY BUYER in a sentence

  • THE PARTIES THEREFORE AGREE THAT THE DEPOSIT REPRESENTS A REASONABLE ESTIMATE OF THE ACTUAL DAMAGES THAT SELLER WILL INCUR IN THE CASE OF SUCH DEFAULT BY BUYER.

  • AS THE SOLE AND EXCLUSIVE REMEDY FOR SUCH DEFAULT BY BUYER, SELLER SHALL RETAIN THE DEPOSIT AS LIQUIDATED AND AGREED-UPON DAMAGES.

Related to DEFAULT BY BUYER

  • Seller Default has the meaning set forth in Section 11.2.

  • Purchaser Default has the meaning set forth in Section 12.2 (a).

  • Event of Default has the meaning specified in Section 8.01.

  • Default means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (f) or (g).

  • Customer Default has the meaning set out in clause 8.3.

  • Events of Default has the meaning specified in Section 6.01.

  • Employer default means having an outstanding balance or liability to the old fund or to the uninsured employers' fund or being in policy default, as defined in W. Va. Code § 23-2c-2, failure to maintain mandatory workers' compensation coverage, or failure to fully meet its obligations as a workers' compensation self-insured employer. An employer is not in employer default if it has entered into a repayment agreement with the Insurance Commissioner and remains in compliance with the obligations under the repayment agreement.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Unmatured Event of Default means any event which, with the giving of notice, the passage of time or both, would constitute an Event of Default.