554.2616 Procedure on notice claiming excuse. 1. Where the buyer receives notification of a material or indefinite delay or an allocation justified under section 554.2615 the buyer may by written notification to the seller as to anydelivery concerned, and where the prospective deficiency substantially impairs the valueof the whole contract under the provisions of this Article relating to breach of installmentcontracts (section 554.2612), then also as to the whole, a. terminate and thereby discharge any unexecuted portion of the contract; orb. modify the contract by agreeing to take the buyer’s 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 days the contract lapses with respectto 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 section 554.2615. [C66, 71, 73, 75, 77, 79, 81, §554.2616]2008 Acts, ch 1032, §72 Sat Dec 23 01:51:39 2023 Iowa Code 2024, Section 554.2616 (24, 0)
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