42 Default or Bankruptcy

Upon failure of Buyer to make any payment required, without deduction, set-off, or counterclaim, within ten (10) days after the same becomes due, or if Buyer defaults in the performance of any other obligation, term or condition of this Contract, or if Buyer shall make an assignment for the benefit of creditors, or in the event of a commencement of proceedings by or against Buyer involving bankruptcy, insolvency, reorganisation or arrangement, QikID, without demand or notice of any kind and without prejudice to any other remedy of QikID, may cancel this and any other contract with Buyer (Buyer remaining liable for damages) or QikID may defer further deliveries until the default is remedied (in which event, if QikID elects, this Contract shall be deemed extended for a period of time equal to that during which deliveries are deferred).