- 7 -
in accordance with the payment terms governing any
shipment of goods shall constitute a default hereunder
and, in addition to its rights under Section 5 of this
Agreement, Super Rite may suspend shipments to the
Retailer for so long as such default remains uncured.
3. Term. This Agreement shall remain in full
force and effect until April 16, 2005. Thereafter,
this Agreement shall automatically be renewed for
successive periods of one (1) year each unless either
party gives written notice to the other party at least
sixty (60) days prior to the expiration of the initial
term or any renewal term hereof that it desires to
terminate this Agreement at the end of such term.
4. Delays in Supply. Neither party hereto shall
be liable for any default or delay in the performance
of its obligations hereunder caused by any contingency
beyond its control * * *. In the event of a Delay that
materially impairs Super Rite’s shipments to the Re-
tailer or the Retailer’s purchases from Super Rite, the
other party’s obligations hereunder shall be reduced
for the period including the Delay in proportion to the
impairment and, in the case of a Delay affecting Super
Rite, the Retailer shall be expressly permitted to
cover such reductions by purchases from other wholesal-
ers (it being expressly understood that Super Rite
shall incur no liability to the Retailer for any in-
creased costs or expenses related thereto). * * *
5. Cancellation by Super Rite. Super Rite may
cancel this Agreement: (i) upon the failure by the
Retailer to make payment to Super Rite in accordance
with Section 2 hereof for goods delivered hereunder;
(ii) immediately upon the filing of a petition for
relief by the Retailer in a voluntary proceeding under
applicable federal or state bankruptcy law or like laws
for the protection of debtors or upon the application
of the Retailer to any court or administrative agency
of competent jurisdiction for the appointment of a
receiver or trustee for the administration of the
Retailer’s affairs; (iii) upon the filing of a petition
for relief with respect to the Retailer in an involun-
tary proceeding under applicable federal or state
bankruptcy law or like laws for the protection of
debtors or upon the application by a third party to any
court or administrative agency of competent jurisdic-
tion for the appointment of a receiver or trustee for
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011