Connecticut Metallurgical Inc.

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Laboratories-Testing Executives of Connecticut Metallurgical Inc
Information Technology, Jan Blum Business classifications
SIC (US 1987) : Unless otherwise provided in an SOW or an Order, the applicable SOW or Order will remain in effect from the date such SOW or Order is fully executed by authorized representatives of each party until either party terminates it in accordance with these Terms or by providing the other party with at least 60 days’ advance written notice. In the event of any such termination, Client shall make prompt payment for all Services and Deliverables properly performed and delivered prior to the effective date of termination.
In the event of a breach of any material term of these Terms, an SOW or an Order, the non-breaching party may immediately suspend performance of its obligations. Upon further written notice, if the breaching party fails to cure the breach within 10 business days of its receipt of written notice that sets forth the breach and proposed cure, the non-breaching party may immediately terminate any outstanding SOW or Order. If Supplier terminates an SOW or Order as a result of a Client’s material breach, then Supplier shall provide to Client a final invoice for the Services and/or Deliverables performed and delivered prior to the effective date of termination. Client shall pay such amount plus the Termination Payment. The “Termination Payment” will be equal to 10% of the difference between the price or estimate, as applicable, for such Services and/or Deliverables as set forth in the applicable SOW or Order (as amended in Supplier’s progress reports or change orders) and the sum of all payments made by Client, including the final invoice. Client’s payment obligation shall not be subject to set-off in any manner.
Either party may immediately terminate any outstanding SOW or Order upon written notice to the other party if: (i) the other party becomes insolvent and/or fails to provide written assurance to the requesting party of its ability to pay its debts as they become due; (ii) a receiver is appointed for the other party or its property; (iii) the other party makes an assignment for the benefit of its creditors; (iv) proceedings are commenced by or for the other party for relief under bankruptcy, insolvency or debtor’s relief law and not discharged within 60 days; or (v) the other party commences proceedings or takes action to liquidate or dissolve its business or attempts to do so.