Default of City's Obligations Sample Clauses

Default of City's Obligations. If the City defaults in the observance or performance of any of its obligations under this Contract and provided always that the default is not an Intentional Fundamental Breach, then, despite any other term of this Contract, the following rules apply: (a) the Vendor will have no remedy in connection with such default unless the Vendor first gives the Director of Legal Services of the City written notice specifying the nature of the default, that the notice is given pursuant to this Article, and stating with precision what is required to be done to cure such default; (b) the City will have the following periods of time to cure such default without liability: (i) five (5) Business Days in the case of a default to pay money; (ii) seven (7) Business Days in the case of a default that with reasonable diligence may be remedied within seven (7) Business Days; and (iii) a reasonable period of time in the case of any default that with reasonable diligence would require more than seven (7) Business Days to remedy, provided that the City commences and proceeds continuously and diligently to remedy same; in each case after receipt of such notice by the City's Director of Legal Services; (c) with respect to defaults other than a failure to pay money, if the City fails to cure such default within the required period, and the Vendor diligently attempts to mitigate the delays if any caused by such default, and, even with such mitigation, the default is such as to cause the Vendor to fail to meet the Implementation Schedule, then the following will apply: (i) the Vendor will be allowed an extension of time equal to the period of time that the City was in default, plus any additional period required to accommodate the Vendor for the reasonable impact of the delay on the Vendor (the “City-Caused Delay”); (ii) the City will pay in addition to the Total Purchase Price an amount equal to interest at the ninety (90) Day LIBOR (London Inter-Bank Offered Rate) plus 3% per annum simple interest calculated monthly, prorated for any periods less than a full month, for the City-Caused Delay, calculated on such amounts which would otherwise have become due and payable at an earlier point in time under this Contract (but for further certainty excluding any and all delays in the receipt or timing of the Maintenance Fees); (iii) any delay resulting from any Unavoidable Delay will not be considered a delay due to City default and no interest shall be charged to or be payable by the City f...
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Related to Default of City's Obligations

  • City’s Obligations A. Following the execution of this Agreement, the CITY shall begin efforts to implement the activities described in Article I of this Agreement. The failure by the CITY to develop and implement the activities described in Article I of this Agreement shall constitute a breach of this Agreement. The CITY understands and agrees that, in the event termination of this Agreement by CITY, or pursuant to Article V of this Agreement, the CITY shall reimburse the IDC the full amount of money paid by the IDC to the CITY. B. In accordance with Chapter 2264 of the Texas Government Code, the CITY agrees not to knowingly employ an undocumented worker. During the term of this Agreement, the CITY shall notify the IDC of any complaint brought against CITY alleging that it has employed undocumented workers. If the CITY, or any branch, division or department of the CITY is convicted of a violation under 8 U.S.C. Section 1324a (f), the total amount of economic development grants it has received, together with interest at the rate of five percent (5%), shall be repaid by the CITY to the IDC not later than the one hundred twentieth (120th) day after the date the IDC becomes aware of and notifies the CITY of the violation. The CITY shall not be liable for a violation of Chapter 2264 by a subsidiary, affiliate, or franchisee, or by any person with whom the CITY contracts. The CITY shall reimburse the IDC the required amount within thirty (30) days of the termination of this Agreement. The CITY further certifies that CITY is following Texas Government Code Chapter 2252 (foreign terrorist organizations prohibited), Texas Government Code Chapter 2270 (boycott-Israel), and Texas Government Code Chapter 2274, (boycotts-energy company; discrimination – firearms entity or trade association). C. The CITY shall keep and maintain complete and accurate records relating to its hiring and employment of persons, which is separate and identifiable from its other records, and shall make such records available for not less than three (3) years following termination of this Agreement. The IDC and its representatives shall be entitled to inspect said records during the term of this Agreement and for three (3) years thereafter, upon reasonable notice to the CITY. The CITY’s failure to comply with this provision will constitute a breach of the Agreement.

  • Conditions of the Company’s Obligations The obligations of the Company to the Purchaser under this Agreement are subject to the fulfillment, on or before each Closing Date, of each of the following conditions:

  • Authority’s Obligations Save as otherwise expressly provided, the obligations of the Authority under the Contract are obligations of the Authority in its capacity as a contracting counterparty and nothing in the Contract shall operate as an obligation upon, or in any other way ▇▇▇▇▇▇ or constrain the Authority in any other capacity, nor shall the exercise by the Authority of its duties and powers in any other capacity lead to any liability under the Contract (howsoever arising) on the part of the Authority to the Contractor.

  • Conditions to Each Party’s Obligation The respective obligations of each party to effect the transactions contemplated by this Agreement shall be subject to the satisfaction prior to or on the Closing Date of the following conditions:

  • Conditions of Company's Obligations The Company’s obligation to issue and sell the Securities to the Purchaser on the Closing Date is subject to the fulfillment prior to or on the Closing Date of the following conditions, any of which may be waived in whole or in part by the Company: