If (a) Customer is in default of performance of its obligations towards Seller, or (b) if
Seller has reasonable doubts with respect to Customer’s performance of its
obligations to Seller and Customer fails to provide to Seller adequate assurance
(such as by means of ongoing credit approval) of Customer’s performance before
the date of scheduled delivery and in any case within thirty (30) days of Seller’s
demand for such assurance; or if Customer becomes insolvent or unable to pay its
debts as they mature, or goes into liquidation (otherwise than for the purposes of a
reconstruction or amalgamation) or any bankruptcy proceeding shall be instituted by
or against Customer or if a trustee or receiver or administrator is appointed for all or
a substantial part of the assets of Customer or if Customer enters into a deed of
arrangement or makes any assignment for the benefit of its creditors, then, without
prejudice to any other rights of Seller, Seller may by notice in writing forthwith
(i) demand re-delivery and take repossession of any delivered Goods which
have not been paid for, for which purpose Customer hereby grants an
irrevocable right and licence to Seller to enter upon all or any of the
premises where the Goods are or may be located and all costs relating to
the recovery of the Goods shall be for the account of Customer; and/or
(ii) suspend its performance or terminate Seller’s Confirmation for outstanding
delivery of Goods unless Customer makes such payment for Goods on a
cash in advance basis or provides adequate assurance of such payment for
Goods to Seller; without any intervention of courts being required and
without liability for Seller of whatsoever kind arising out of or in connection
with such suspension or termination