RIGHT TO CANCEL. The Buyer has a right to cancel this Agreement if the Seller fails [specify, e.g., to ship all or any of the Goods on time]. The Seller has a right to cancel this Agreement if the Buyer fails [specify, e.g., to make any payment required by this Agreement within (number) days of its due date]. If either party notifies the other party that it will not or is unable, to perform this Agreement, the party receiving notice is entitled to cancel the Agreement. To make the cancellation effective, the party seeking to cancel must give notice to the other party that the Agreement is deemed canceled. The date of the cancellation will be the date on which the party receives the notice of nonperformance.