Binary Net may at any time terminate this agreement, and shall be entitled to enforce the security interests granted to it, without notice to Reseller if any one or more of the following events shall occur. If a Reseller fails to pay invoices issued by Binary Net within the 30 day grace period. If Reseller fails to comply with Binary Net's Terms and Conditions as appended to this agreement. If Reseller is declared bankrupt, or becomes insolvent, or if Reseller makes an assignment for the benefit of creditors, or if bankruptcy or insolvency proceeding are instituted by or against Reseller or if Reseller makes a proposal to creditors, or is a substantial portions of the property or Reseller is seized or otherwise attached pursuant to legal process including, without limitation, distress or execution. Upon termination of this agreement a. Reseller shall immediately cease making representation that Reseller is an authorized Reseller of Binary Net.
All outstanding invoices become due immediately.
Binary Net shall not be liable to Reseller or to Reseller's clients for any cost, claims, damages or expenses whatsoever, including, but not limited to, loss of profits or revenues as a result of such termination. Except as otherwise stated within this agreement Reseller shall bear all expenses and pay all costs of representation and of the marketing and sale of web hosting accounts and shall indemnify and hold harmless Binary Net for any damages or losses sustained as a result of Resellers activities whether pursuant to this agreement or otherwise. Assignment Reseller shall not assign this agreement or any of the rights or duties under the agreement, to another party without the written consent of Binary Net. This agreement may only be modified by mutual agreement of all signatories of this agreement. Disclaimer Binary Net will not be responsible for any damages any business may suffer.