DEFAULT OF A PARTY Sample Clauses

The "Default of a Party" clause defines what constitutes a breach or failure by one party to fulfill its obligations under the agreement. Typically, this clause outlines specific actions or omissions—such as non-payment, failure to deliver goods or services, or violation of key terms—that will be considered a default. It may also describe the process for notifying the defaulting party and any grace periods for remedying the breach. The core function of this clause is to clearly establish the circumstances under which a party is considered in default, thereby providing a basis for the non-defaulting party to seek remedies or terminate the contract if necessary.
DEFAULT OF A PARTY. Where a party, without sufficient cause, fails to ap- pear at a hearing, pay the fees of the Institute, or to produce evidence, the Tribunal may continue the arbitration on such terms as the Tribunal deems appropriate after satisfying itself that a reason- able attempt has been made to communicate with the defaulting party. The Tribunal shall make an award based upon the evidence before it.
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DEFAULT OF A PARTY. 4.24.1 If a party does not within 15 days pay a deposit required under Rule 4.23.1, or if a respondent fails to pay the Case Service Fee: (a) the party is considered a defaulting party; and (b) the Tribunal or the Institute (if it is administering the arbitration) must inform the parties of the default. The non-defaulting party or parties may pay the unpaid deposit or fee, in which case the arbitration must continue and must not be deemed to have been abandoned or withdrawn. 4.24.2 If a deposit required under Rule 4.23.1 is not paid within 30 days, the Tribunal may suspend the arbitration until the full amount of the deposit is paid. 4.24.3 If the Case Service Fee is not paid within 30 days of becoming payable, the arbitration must proceed without being administered by the Institute. 4.24.4 If a party does not participate in an arbit- ration, the Tribunal may continue without that party present and make an award based on the evidence before it, if the Tribunal is satisfied by evidence that appropriate notice of the arbitration proceedings was given to the non-participating party in accordance with the arbitration agreement.
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DEFAULT OF A PARTY. 30.1: If the respondent fails to communicate his statement of defence within the time-limit set in accordance with section 9, the arbitral tribunal may continue the proceedings without treating such failure in itself as an admission of the claimant's allegations. 30.2: If any party fails to appear at an oral hearing after having been duly summoned, or to produce documentary evidence within a set time-limit, the arbitral tribunal may continue the proceedings and make the award on the evidence before it. 30.3: Any default which has been justified to the tribunal's satisfaction will be disregarded. Apart from that, the parties may agree otherwise on the consequences of default.
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DEFAULT OF A PARTY. 30.1: If the respondent fails to communicate his statement of defence within the time-limit set in accordance with section 9, the arbitral tribunal may continue the proceedings without treating such failure in itself as an admission of the claimant's allegations. 30.2: If any party fails to appear at an oral hearing after having been duly summoned, or to produce documentary evidence within a set time-limit, the arbitral tribunal may continue the proceedings and make the award on the evidence before it.
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DEFAULT OF A PARTY. 4.24.1 If a party does not within 15 days pay a deposit required under Rule 4.23.1, or if a respondent fails to pay the Case Service Fee: (a) the party is considered a defaulting party; and 7 This rule does not apply in Québec, where settlement offers made “with prejudice” do not exist and may offend public order (since settlement discussions are cloaked with confidentiality). (b) the Tribunal or the Institute (if it is administering the arbitration) must inform the parties of the default. The non-defaulting party or parties may pay the unpaid deposit or fee, in which case the arbitration must continue and must not be deemed to have been abandoned or withdrawn. 4.24.2 If a deposit required under Rule 4.23.1 is not paid within 30 days, the Tribunal may suspend the arbitration until the full amount of the deposit is paid. 4.24.3 If the Case Service Fee is not paid within 30 days of becoming payable, the arbitration must proceed without being administered by the Institute. 4.24.4 If a party does not participate in an arbit- ration, the Tribunal may continue without that party present and make an award based on the evidence before it, if the Tribunal is satisfied by evidence that appropriate notice of the arbitration proceedings was given to the non-participating party in accordance with the arbitration agreement.
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DEFAULT OF A PARTY. In the event that either Party Defaults on this Agreement, the terms and conditions as provided in Section 18, shall apply.
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DEFAULT OF A PARTY. 1. If the claimant, although reasonably given the opportunity to do so, fails to assert or reasonably explain its claims, without asserting well-founded reasons, the arbitral tribunal may, by award, or in another manner it considers appropriate, bring an end to the arbitral proceedings. 2. If the respondent, although reasonably given the opportunity to do so, fails to submit its defence, without asserting well-founded reasons, the arbitral tribunal may immediately make an award. 3. In the award referred to in the second paragraph, the claim shall be awarded, unless it appears to the arbitral tribunal to be unlawful or unfounded. The arbitral tribunal may, before making its award, require proof from the claimant of one or more of its assertions.
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DEFAULT OF A PARTY. If either Party defaults on any material obligation set out in this Agreement, the non-defaulting Party may terminate this Agreement if the defaulting Party fails to cure such default within thirty (30) days after receiving written notice of such default.
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Related to DEFAULT OF A PARTY

  • Default of Tenant Each of the following shall constitute a default by Tenant under this Lease: (a) Tenant fails to pay any amount required under this Lease as and when the same becomes due and said failure is not cured within ten (10) days after written notice thereof from Landlord; (b) Tenant fails to perform any other term, condition, or obligation under this Lease and said failure is not cured within thirty (30) days after written notice thereof from Landlord. Upon the occurrence of any such default by Tenant, Landlord shall have the option to pursue any one or more of the following remedies without any additional notice or demand whatsoever: terminate this Lease, in which event Tenant shall immediately surrender the Leased Premises to Landlord, and if Tenant fails to do so Landlord may, without prejudice to any other remedy which Landlord may have for omission or arrearages in Rent, enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof, without being liable for prosecution or any claim of damages therefor; or enter upon and take possession of the Leased Premises and expel or remove Tenant and any other person who may be occupying the Leased Premises or any part thereof without being liable for prosecution or any claim for damages therefor, with or without having terminated this Lease. In addition to the other remedies provided in this Lease, and anything contained herein to the contrary notwithstanding, Landlord shall be entitled to restrain any default or violation, or attempted or threatened default or violation of any of the terms, covenants, conditions or other provisions of this Lease, by injunction, order of specific performance or other appropriate equitable relief. The remedies provided to Landlord hereunder are intended to be cumulative, and may be exercised by Landlord in any order, or simultaneously, without such exercise being a waiver by Landlord of its right to exercise any other remedy granted to Landlord hereunder (or under applicable Laws) with respect to the same default. Exercise by Landlord of any one or more remedies hereunder granted or otherwise available shall not be deemed to be an acceptance or surrender of the Leased Premises by ▇▇▇▇▇▇, whether by agreement or by operation of law, it being understood that such surrender can be affected only by the written agreement of Landlord and ▇▇▇▇▇▇.

  • Notice of Default or Event of Default promptly, and in any event within five days after a Responsible Officer becoming aware of the existence of any Default or Event of Default or that any Person has given any notice or taken any action with respect to a claimed default hereunder or that any Person has given any notice or taken any action with respect to a claimed default of the type referred to in Section 11(f), a written notice specifying the nature and period of existence thereof and what action the Company is taking or proposes to take with respect thereto;

  • Default of Purchasers If any Purchaser or Purchasers default in their obligations to purchase Offered Securities hereunder and the aggregate principal amount of Offered Securities that such defaulting Purchaser or Purchasers agreed but failed to purchase does not exceed 10% of the total principal amount of Offered Securities, CSFBC may make arrangements satisfactory to the Company for the purchase of such Offered Securities by other persons, including any of the Purchasers, but if no such arrangements are made by the Closing Date, the non-defaulting Purchasers shall be obligated severally, in proportion to their respective commitments hereunder, to purchase the Offered Securities that such defaulting Purchasers agreed but failed to purchase. If any Purchaser or Purchasers so default and the aggregate principal amount of Offered Securities with respect to which such default or defaults occur exceeds 10% of the total principal amount of Offered Securities and arrangements satisfactory to CSFBC and the Company for the purchase of such Offered Securities by other persons are not made within 36 hours after such default, this Agreement will terminate without liability on the part of any non-defaulting Purchaser or the Company, except as provided in Section 9. As used in this Agreement, the term "Purchaser" includes any person substituted for a Purchaser under this Section. Nothing herein will relieve a defaulting Purchaser from liability for its default.

  • Default or Event of Default Seller shall notify Buyer of the occurrence of any Default or Event of Default with respect to Seller as soon as possible but in no event later than two (2) Business Days after obtaining Knowledge of such event.

  • Default; Breach A “Default” is defined as a failure by the Lessee to comply with or perform any of the terms, covenants, conditions or Rules and Regulations under this Lease. A “Breach” is defined as the occurrence of one or more of the following Defaults, and the failure of Lessee to cure such Default within any applicable grace period: