§ 26-1-2-616 — Procedure on notice claiming excuse

(1) Where the buyer receives notification
of a material or indefinite delay or an allocation justified under IC 26-1-2-615, he may by written notification to the seller as to any
delivery concerned, and where the prospective deficiency substantially
impairs the value of the whole contract under the provisions of IC 26-1-2-612 relating to breach of installment contracts, then also as to
the whole:
(a) terminate and thereby discharge any unexecuted portion of the
contract; or
(b) modify the contract by agreeing to take his available quota in
substitution.
(2) If after receipt of such notification from the seller the buyer fails
so to modify the contract within a reasonable time not exceeding thirty
(30) days, the contract lapses with respect to any deliveries affected.
(3) The provisions of this section may not be negated by agreement
except insofar as the seller has assumed a greater obligation under IC 26-1-2-615.
Formerly: Acts 1963, c.317, s.2-616. As amended by
P.L.152-1986, SEC.160.