in the event of bankruptcy or insolvency by Buyer or in the event any proceeding is brought by or against Buyer under the bankruptcy or insolvency laws, Seller shall be entitled to cancel any order then outstanding and shall receive reimbursement for its cancellation charges. LIMITED WARRANTY
Seller warrants merchandise sold by it to be free from defects in materials and workmanship to equal or exceed the applicable published ratings and specifications at the time of shipment, or in the case of custom made merchandise or prototypes the specifications agreed on, under proper storage and use, for a period of six months from the date of the original shipment.
Buyers approval of prototype shall be proof that the design meets the agreed specification. Sellers entire liability and obligation to Buyer under this warranty shall be expressly limited to the repair, replacement or crediting, as Seller may determine at its sole discretion, of any defective or nonconforming merchandise for which Buyer has first given written notice to Seller of such defect or nonconformity in the manner as provided below.
No claim under this warranty shall be valid unless Buyer furnish Seller in writing notice of any defect in materials and/or workmanship or any nonconformity with any applicable specifications, specifying in detail any such defect or non- conformity.
Absent of such timely notice, Buyer shall be deemed to have waived any such defect or nonconformity which could be determined based upon a reasonable inspection of such goods other than with respect to the repair, replacement, or crediting of defective merchandise by Seller under the limited warranty as provided above, Seller shall have no obligation to Buyer with respect to any monetary damages by reason of such nonconformity or defect, and in no event shall Seller be liable to Buyer for any lost profits or consequential damages.
Seller shall have the option, exercisable in its sole discretion, of requiring the return to it or an authorized representative of the defective merchandise, transportation prepaid, for inspection. No warranty claim will be allowed which, in the opinion of Seller, resulted from merchandise being altered or repaired by other than Seller or an authorized representative or resulted from misuse, negligence or accident.
In the event that some, but not all items of merchandise are defective within the terms of the limited warranty set forth above, the repair, replacement or crediting of defective merchandise at Sellers option shall apply only to such defective items falling within the terms of such limited warranty and Buyer shall have no right to return or seek credit for any items not so defective.
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