Breach of Contracts Sample Clauses
The Breach of Contracts clause defines the consequences and procedures that apply when one party fails to fulfill its obligations under the agreement. Typically, this clause outlines what constitutes a breach, the steps the non-breaching party must take to notify the breaching party, and any remedies available, such as the right to terminate the contract or seek damages. Its core function is to provide a clear framework for addressing failures in performance, thereby protecting the interests of both parties and reducing uncertainty in the event of a dispute.
Breach of Contracts. (a) Any Loan Party shall breach or default under any term, condition, provision, covenant, representation or warranty contained in any Contract with a contract price of value in excess of $5,000,000 and such breach or default shall continue unremedied for ten (10) days after the earlier of (i) the Company or any other Loan Party becoming aware of such breach or default or (ii) receipt by the Company or any other Loan Party of notice from the Disbursement Agent or any Funding Agent of such breach or default; or
(b) Any party (other than a Loan Party) shall breach or default under any term, condition, provision, covenant, representation or warranty contained in any Contract with a contract value in excess of $5,000,000 and such breach or default shall continue unremedied for thirty (30) days after the earlier of (i) the Company or any other Loan Party becoming aware of such breach or default or (ii) receipt by the Company or any other Loan Party of notice from the Bank Agent or any Lender of such breach or default; provided, however, that (A) if the breach or default is reasonably susceptible to cure within sixty (60) days but cannot be cured within such thirty (30) days despite such other party's good faith and diligent efforts to do so, the cure period shall be extended as is reasonably necessary beyond such thirty (30) day period (but in no event longer than sixty (60) days) if remedial action reasonably likely to result in cure is promptly instituted within such thirty (30) day period and is thereafter diligently pursued until the breach or default is corrected and (B) no Event of Default shall be deemed to have occurred as a result of such breach if the Company provides written notice to the Funding Agents immediately upon (but in no event more than two (2) Banking Days after) the Company or any Loan Party becoming aware of such breach that the Company intends to replace such Contract (or that replacement is not necessary) and (1) the Company obtains a replacement obligor or obligors reasonably acceptable to the Disbursement Agent (in consultation with the Construction Consultant) for the affected party (if in the judgment of the Disbursement Agent (in consultation with the Construction Consultant) a replacement is necessary), (2) the Company enters into a replacement Contract in accordance with Section 6.1 on terms no less beneficial to the Company and the Secured Parties in any material respect than the Contract so breached within sixty (60) days of s...
Breach of Contracts. Except as disclosed on Exhibit 5.6, Acquiror has not breached, nor is there any pending or threatened claims or any legal basis for a claim that Acquiror has breached, any of the terms or conditions of any agreements, contracts or commitments to which it is a party or is bound and the execution and performance hereof will not violate any provisions of applicable law of any agreement to which Acquiror is subject.
Breach of Contracts. USMS has not breached, nor is there any pending or threatened claims or any legal basis for a claim that USMS has breached, any of the terms or conditions of any agreements, contracts or commitments to which it is a party or is bound and the execution and performance hereof will not violate any provisions of applicable law of any agreement to which USMS is subject.
Breach of Contracts. PRIDE has not breached, nor is there any pending or threatened claims or any legal basis for a claim that PRIDE has breached, any of the terms or conditions of any agreements, contracts or commitments to which it is a party or is bound and the execution and performance hereof will not violate any provisions of applicable law of any agreement to which PRIDE is subject.
Breach of Contracts any of the Contracts is terminated or substantially modified;
Breach of Contracts. If either Party is in material breach of this Agreement or any of its contents, the injured Party will provide written notice of the breach and its request to remedy to the Other. If the notified Party fails to rectify the breach within 1 calendar month from receipt of this notice, then the Other may terminate this Agreement forthwith with immediate effect.
Breach of Contracts. Carter Hill has not breached, nor is there any pending or threatened c▇▇▇▇▇ ▇▇ ▇▇y legal basis for a claim that Carter Hill has breached, any of the terms or conditions of any agreem▇▇▇▇, ▇▇▇▇▇acts or commitments to which it is a party or is bound and the execution and performance hereof will not violate any provisions of applicable law of any agreement to which Carter Hill is subject.
Breach of Contracts. OPUS has not breached, nor is there any pending or threatened claims or any legal basis for a claim that OPUS has breached, any of the terms or conditions of any agreements, contracts or commitments to which it is a party or is bound and the execution and performance hereof will not violate any provisions of applicable law of any agreement to which OPUS is subject.
Breach of Contracts. All Sirona Material Contracts are valid and in full force and effect except to the extent they have previously expired in accordance with their terms or except if the failure to be in full force and effect, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect on Sirona. Neither Sirona nor any Significant Subsidiary has violated any provision of, or committed or failed to perform any act which with or without notice, lapse of time or both would constitute a default under the provisions of, any Sirona Material Contract, except in each case for those violations and defaults which, individually or in the aggregate, would not reasonably be expected to have a Material Adverse Effect with respect to Sirona.
Breach of Contracts. Except as provided in Schedule 3.10(j), Target has not breached, or received in writing any claim or threat that it has breached, any of the material terms and conditions of any Target Material Contracts in such a manner as would permit any other party to cancel or terminate the same or would permit any other party to seek material damages from Target under any Target Material Contract. Target is not aware of the existence of a material breach of a Target Material Contract by any other party thereto. Except in the ordinary course of Target's business, Target is not engaged, and has not agreed to engage, in any discussions related to the material amendment of any Target Material Contract.