Default and Remedies Termination Sample Clauses

The "Default and Remedies; Termination" clause defines the circumstances under which a party is considered to be in default of the agreement and outlines the actions the non-defaulting party may take in response. Typically, this clause specifies what constitutes a default, such as failure to perform obligations or breach of contract terms, and details the remedies available, which may include the right to terminate the agreement, seek damages, or require specific performance. Its core practical function is to provide a clear framework for addressing breaches, thereby protecting the interests of both parties and ensuring there are established procedures for resolving serious contract violations.
Default and Remedies Termination a) A default shall consist of: (i) the breach by Grantee of any term, condition, covenant, agreement, or certification contained in this Agreement; (ii) the expenditure of Grant funds for any use other than as provided in the Project Budget or in the approved scope of work for the Project; (iii) the failure to commence or complete the Project by the dates set forth in the Agreement, or otherwise unsatisfactory performance or completion of the Project, in the Department’s sole determination; (iv) Grantee’s bankruptcy, insolvency, or the dissolution or liquidation of Grantee’s business organization or assets; (v) the failure to obtain Other Public Funds if, in the Department’s sole discretion, such failure would significantly impact the Project; (vi) a change in Grantee’s staffing capacity that adversely affects ▇▇▇▇▇▇▇’s ability to carry out the Project, in the Department’s sole discretion. b) If a default described in Section 9(a) occurs, the Department shall give Grantee written notice of default, and Grantee shall have thirty (30) calendar days from the date of such notice to cure the default. If Grantee has not cured the default to the satisfaction of the Department by the conclusion of the 30-day period, this Agreement shall terminate at the end of the 30-day period and the Department may demand immediate repayment of the Grant. Notwithstanding the above, upon the occurrence of a default under this Agreement involving Grantee’s bankruptcy, insolvency, or the dissolution or liquidation of Grantee’s business organization or assets, the Department’s right to terminate this Agreement shall be immediate, without a notice and cure period. c) Notwithstanding the foregoing notice and cure period set forth in Section 9(b), in the event that the Treasury requires the repayment of any Grant funds, Grantee shall immediately return the Grant funds to the Department. d) In the event of termination of the Agreement, whether due to default or otherwise: i) The Department may withhold disbursement of Grant funds and Grantee shall have no right, title, or interest in or to any of the undisbursed Grant funds; ii) The Department may demand repayment from Grantee of any portion of the Grant proceeds that the Department, in its sole discretion, determines were not expended in accordance with this Agreement, plus all costs and reasonable attorneys' fees incurred by the Department in recovery proceedings; and iii) The Department, in its sole discretion, may demand repayment o...
View SourceView Similar (5)
Default and Remedies Termination. (a) Either party may declare the other party in default: (i) if the defaulting party defaults in any payment to the non-defaulting party and such failure continues unremedied for a period of twenty (20) days after the date of receipt by the defaulting party of written notice specifying the default in reasonable detail; or (ii) if the defaulting party defaults in its performance of any other term or condition of this Agreement, or of any MPS issued pursuant to this Agreement, and such default continues unremedied for a period of thirty (30) days after the date of receipt by the defaulting party of written notice specifying the default in reasonable detail; or (iii) if the defaulting party files a petition in bankruptcy, has a petition in bankruptcy filed against it and such petition is not dismissed within 90 days, makes an assignment for the benefit of creditors, suffers foreclosure of all or substantially all of its assets or seeks the appointment of a receiver for all or substantially all of its assets. (b) In the event of a default hereunder, the non-defaulting party may, by thirty (30) days prior written notice to the defaulting party, terminate this Agreement and all or any of the privileges, permissions and rights granted to the defaulting party hereunder or in connection herewith in whole or in part. The effective date of termination will be the date therefor stated in any termination notice given hereunder, which date will not be before the expiration of any applicable cure period provided for herein. Any
View SourceView Similar (2)
Default and Remedies Termination a. GIC agrees that if, at any time during the Term and for a period of ten (10) years thereafter, GIC or any of its officers, directors or agents willfully and intentionally breaches a material provision of this Agreement and GIC fails to cure such breach within a period of one (1) month after the date that Kyxpyx provides GIC with notice thereof, Kyxpyx shall have the right to terminate this Agreement and terminate the license grants set forth in Section 2, inclusive of any Upgrades, versions or successors thereto. GIC's rights under Section 2 of this Agreement with respect to Upgrades it develops shall survive any expiration or termination of this Agreement. b. GIC may terminate this Agreement only if Kyxpyx fails to deliver ISV in satisfaction of GIC's acceptance criteria after notice to Kyxpyx and an opportunity to cure, in accordance with Section 12.6. c. Except as expressly stated in this Section 11.2 and in Section 12.6, the parties agree that in the event that either party breaches any material term of this Agreement, the non-breaching party shall deliver notice thereof to the breaching party and the breaching party shall have thirty (30) days from receiving such notice to cure such breach. If the breach continues after such 30-day period, the non-breaching party's sole remedy shall be to seek monetary damages in a court of competent jurisdiction.
View Source
Default and Remedies Termination. 28 14.1 HI-POWER Events of Default ................................................................................................................. 28 14.2 ACRO Events of Default ......................................................................................................................... 28 14.3 ACRO Remedies Upon Owner Event of Default..................................................................................... 29 14.4 Owner Remedies Upon Contractor Event of Default ............................................................................... 29 14.5 Termination for Convenience By HI-POWER ........................................................................................ 30 ARTICLE 15.
View Source
Default and Remedies Termination. AVF may terminate this Agreement in the event the Effective Date does not occur by December
View Source
Default and Remedies Termination 
View SourceView Similar (20)

Related to Default and Remedies Termination

  • Default Remedies Termination A. In the event of early termination under this Agreement and/or any SOW, other than for material breach by Brink's, Customer agrees that actual damages might be sustained by Brink's which are uncertain and would be difficult to determine. Customer hereby agrees to pay Brink's, as liquidated damages and not as a penalty, all remaining charges that would have been payable to Brink's from the date of termination up to and including the date of expiration of the then current term of this Agreement, plus any capital costs incurred by Brink's as a result of entering into this Agreement. Should Customer default in the payment to Brink's of any amounts due under this Agreement, then Customer shall also be responsible for interest as provided above and all attorney's fees, costs and expenses incurred by Brink's in the collection of such past due amounts. The past due amounts, interest and collection costs constitute "Unpaid Obligations". In addition to the other remedies provided in this Agreement and under applicable law, Customer hereby agrees that Brink's shall be permitted to retain as a credit and to offset against such Unpaid Obligations, on a dollar for dollar basis, any Property which Brink's has in its possession under this Agreement. B. Either party may terminate this Agreement in the event of a material breach of this Agreement (including non-payment) by the other party, provided that such breach continues for a period of thirty (30) days after receipt by the breaching party of written Notice from the non-breaching party specifying the nature of such breach. No written Notice is required if the breach is non-payment of amounts due. If such breach is cured within the applicable cure period, then this Agreement shall continue in full force and effect.

  • Default and Remedies Either of the following constitutes cause to declare this Contract, or any Participating Entity order under this Contract, in default: 1. Nonperformance of contractual requirements, or 2. A material breach of any term or condition of this Contract. The party claiming default must provide written notice of the default, with 30 calendar days to cure the default. Time allowed for cure will not diminish or eliminate any liability for liquidated or other damages. If the default remains after the opportunity for cure, the non-defaulting party may: • Exercise any remedy provided by law or equity, or • Terminate the Contract or any portion thereof, including any orders issued against the Contract.

  • Events of Default and Remedies Section 8.01.

  • Performance Default and Remedies Subsection B. DEFAULT AND REMEDIES, second paragraph of the Contract is modified as follows (underlined language is added and stricken language is deleted): “Written notice of default and a reasonable 30-day opportunity to cure must be issued by the party claiming default.”

  • Termination and Remedies a. Provided no TO is outstanding and remains to be performed by either party, this Agreement may be terminated by either party upon 30 days prior written notice to the other party. b. Any TO may be terminated under the following circumstances: i. by both Parties on mutual written agreement of the Parties; ii. by either Party for its convenience with written notice and after the Termination Notice Period specified in the Additional Terms has expired; iii. by Mercy Corps immediately upon written notice in the event Mercy Corps’ donor(s) terminates or withdraws funding that Mercy Corps would use to pay Contractor under the Additional Terms; iv. by either Party due to the non-terminating Party’s breach of this Agreement and failure to correct such breach within 15 days prior notice of such breach; v. be either Party upon written notice if a force majeure event, including any not reasonably foreseeable war, insurrection, change in law or government action or inaction, strike, natural disaster or similar event, prevents the terminating Party from being able to fulfill its obligations under this Agreement; or vi. by Mercy Corps immediately upon written notice if Mercy Corps using its sole discretion determines that Contractor has or will breach any of its warranties, covenants or representations in this Agreement, in which case Mercy Corps may withhold any and all amounts owed to Contractor until such breach is remedied. In the event of termination due to Contractor’s breach or by Contractor for Contractor’s convenience, Mercy Corps will not be obligated to pay Contractor for any partially completed work. In the event termination is due to Mercy Corps’ breach, by Mercy Corps for Mercy Corps convenience, due to force majeure event, or due to loss of funding, Mercy Corps will be obligated to pay Contractor for its reasonable, pro-rated costs of work completed and expenses properly incurred prior to termination. However, Mercy Corps will not be responsible for any expenses incurred in anticipation of termination or suspension. If Mercy Corps determines that Contractor has or will breach any of its warranties, covenants or representations in this Agreement, Mercy Corps may, in addition to any other remedies for such breach available at law or in equity, terminate this Agreement.