Default Remedies and Damages Clause Samples

The "Default, Remedies and Damages" clause defines what constitutes a breach or failure to perform under the contract and outlines the actions that the non-breaching party may take in response. Typically, this clause specifies the types of defaults (such as non-payment or failure to deliver goods), the process for notifying the defaulting party, and the remedies available, which may include termination of the agreement, monetary damages, or specific performance. Its core practical function is to provide a clear framework for addressing breaches, thereby allocating risk and ensuring both parties understand the consequences of non-compliance.
Default Remedies and Damages a. Until the PACE Tax Assessment Contract has been paid in full and terminated in accordance with its terms, in the event of a Payment Default or any Default Event with Seller being the Defaulting Party, Purchaser’s right to suspend performance of its obligations under [Sections 13(b)(i) or 13(b)(ii)] of the Agreement shall not include suspension of Purchaser’s payments under the PACE Tax Assessment Contract. b. Until the PACE Tax Assessment Contract has been paid in full and terminated in accordance with its terms, in the event Purchaser pays the Termination Payment to Seller as provided in Section 11(b)(iii)(1) of the Agreement, any payment made by Purchaser to Seller on account of such Termination Payment shall first be used by Seller to repay the Assessment with the PACE Taxing Authority until the Assessment has been paid in full, after which any remaining amount shall be retained by Seller. c. Until the PACE Tax Assessment Contract has been paid in full and terminated in accordance with its terms, in the event Seller becomes obligated to pay the Termination Payment as provided in Section 11(b)(iii)(2) of the Agreement, Seller shall first make any such payment on account of the Assessment until the Assessment has been paid in full, after which Seller shall pay any remaining balance directly to Purchaser.
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Default Remedies and Damages. In the event of default at any time by Tenant in the payments of rent, or in the payment of any late charges designated, or in the performance of any other terms of the lease, or if the Tenant shall abandon or vacate the Premises without the consent of the Landlord, Tenant shall be deemed in default. Upon such default, Landlord shall have the right, as its option to enter upon the Premises, or any part thereof, either with or without process of law and to expel, remove or put out Tenant and/or other persons who may be thereon, together with all personal property found therein without terminating this lease which termination Landlord may elect to do at its sole and exclusive option. All the remedies herein provided shall be cumulative to all other rights or remedies herein given to Landlord or given to Landlord by law. A waiver by Landlord of any default by Tenant in the performance of any terms or conditions of this lease shall not be considered or treated as a waiver of any subsequent or other default.
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Default Remedies and Damages. 20 Section 15.1
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Default Remedies and Damages. Section 15.1 Event of Default Section 15.2 Remedies Section 15,3 Waivers Section 15.4 [INTENTIONALLY OMITTED] ARTICLE 16 UNAVOIDABLE DELAYS, FORCE MAJEURE
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Default Remedies and Damages of the Master Lease is expressly incorporated by reference into this Sublease so that if there shall arise any event applicable to Subtenant which, if such event had be applicable to Sublessor would have been an event of default of the Master Lease as such term is defined therein, such event shall be deemed to be a breach of this Sublease Agreement (except 22.1
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Default Remedies and Damages. ARTICLE 14 .......UNAVOIDABLE DELAYS, FORCE MAJEURE ARTICLE 15 .......NOTICES ARTICLE 16 .......ACCESS ARTICLE 17 .......SIGNS ARTICLE 18 .......END OF TERM
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Default Remedies and Damages 
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Related to Default Remedies and Damages

  • Limitation of Remedies and Damages 8.1 Liability Cap. EXCEPT WITH RESPECT TO: (A) EITHER PARTY'S OBLIGATIONS UNDER SECTION 9 8.2 EXCEPT FOR CUSTOMER’S INFRINGEMENT OF SYSDIG’S INTELLECTUAL PROPERTY RIGHTS, IN NO EVENT SHALL EITHER PARTY, OR SYSDIG’S AFFILIATES OR ITS LICENSORS BE LIABLE FOR ANY CONSEQUENTIAL, INCIDENTAL, SPECIAL, INDIRECT, PUNITIVE OR EXEMPLARY DAMAGES, INCLUDING WITHOUT LIMITATION LOST PROFITS, LOSS OF USE, BUSINESS INTERRUPTIONS, LOSS OF DATA, REVENUE, GOODWILL, PRODUCTION, ANTICIPATED SAVINGS, COSTS OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, IN CONNECTION WITH OR ARISING OUT OF THE PERFORMANCE OF OR FAILURE TO PERFORM THIS AGREEMENT, WHETHER ALLEGED AS A BREACH OF CONTRACT OR TORTIOUS CONDUCT, INCLUDING NEGLIGENCE, EVEN OF A PARTY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. 8.3 Limitations Fair and Reasonable. EACH PARTY ACKNOWLEDGES THAT THE LIMITATIONS OF LIABILITY SET FORTH IN THIS SECTION 8 REFLECT THE ALLOCATION OF RISK BETWEEN THE PARTIES UNDER THIS AGREEMENT, AND THAT IN THE ABSENCE OF SUCH LIMITATIONS OF LIABILITY, THE ECONOMIC TERMS OF THIS AGREEMENT WOULD BE SIGNIFICANTLY DIFFERENT.

  • Limitation of Remedies, Liability and Damages EXCEPT AS EXPRESSLY SET FORTH HEREIN, THERE IS NO WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, AND ANY AND ALL IMPLIED WARRANTIES ARE DISCLAIMED. THE PARTIES CONFIRM THAT THE EXPRESS REMEDIES AND MEASURES OF DAMAGES PROVIDED IN THIS AGREEMENT SATISFY THE ESSENTIAL PURPOSES HEREOF. FOR BREACH OF ANY PROVISION FOR WHICH AN EXPRESS REMEDY OR MEASURE OF DAMAGES IS PROVIDED, SUCH EXPRESS REMEDY OR MEASURE OF DAMAGES SHALL BE THE SOLE AND EXCLUSIVE REMEDY, THE OBLIGOR’S LIABILITY SHALL BE LIMITED AS SET FORTH IN SUCH PROVISION AND ALL OTHER REMEDIES OR DAMAGES AT LAW OR IN EQUITY ARE WAIVED. IF NO REMEDY OR MEASURE OF DAMAGES IS EXPRESSLY PROVIDED HEREIN, THE OBLIGOR’S LIABILITY SHALL BE LIMITED TO DIRECT ACTUAL DAMAGES ONLY, SUCH DIRECT ACTUAL DAMAGES SHALL BE THE SOLE AND EXCLUSIVE REMEDY, AND ALL OTHER REMEDIES OR DAMAGES AT LAW OR IN EQUITY ARE WAIVED. UNLESS EXPRESSLY HEREIN PROVIDED, NEITHER PARTY SHALL BE LIABLE FOR CONSEQUENTIAL, INCIDENTAL, PUNITIVE, EXEMPLARY OR INDIRECT DAMAGES, LOST PROFITS OR OTHER BUSINESS INTERRUPTION DAMAGES, BY STATUTE, IN TORT OR CONTRACT, UNDER ANY INDEMNITY PROVISION OR OTHERWISE. TO THE EXTENT ANY DAMAGES REQUIRED TO BE PAID HEREUNDER ARE LIQUIDATED, THE PARTIES ACKNOWLEDGE THAT THE DAMAGES ARE DIFFICULT OR IMPOSSIBLE TO DETERMINE, OR OTHERWISE OBTAINING AN ADEQUATE REMEDY IS INCONVENIENT AND THE DAMAGES CALCULATED HEREUNDER CONSTITUTE A REASONABLE APPROXIMATION OF THE HARM OR LOSS.

  • Default Remedies (a) If an Event of Default (other than an insolvency Event of Default) has occurred and is continuing, the Lender, by notice to the Company, may declare the Loan Amount of this Note and all accrued interest thereon to be immediately due and payable, and upon any such declaration, such Loan Amount and accrued interest shall thereupon become due and payable immediately within five (5) business days from the Lender’s written request. In the event the Company fails to pay all outstanding Amounts within this five (5) business day period, the interest rate on the unpaid and outstanding Loan Amount of this Note shall be increased to, and this Note shall bear interest at, a monthly rate equal to one and a half percent (1.5%) or to the maximum rate permitted by law (the "Default Rate") from the expiration of the five (5) business day period until such unpaid and outstanding Loan Amount of this Note is repaid in full. If an insolvency Event of Default has occurred, the Loan Amount of this Note and accrued Interest thereon will become immediately due and payable without any declaration or any act on the part of any Lender. Such declaration of acceleration may be rescinded and past defaults may be waived by the Lender. (b) No course of dealing or delay or failure on the part of the Lender to exercise any right under this Section shall operate as a waiver of such right or otherwise prejudice the Lender’s rights, powers and remedies. The Company will pay or reimburse the Lender, to the extent permitted by law, for all reasonable costs and expenses, including but not limited to reasonable attorneys’ fees, incurred by the Lender in collecting any sums due on this Note or in otherwise enforcing any of the Lender's rights hereunder. (c) No right or remedy herein conferred upon the Lender is intended to be exclusive of any other right or remedy contained herein or existing at law, in equity, by statute or otherwise, and every such right or remedy shall be cumulative and shall be in addition to every other such right or remedy contained herein and therein or now or hereafter existing at law, in equity, by statute or otherwise.

  • 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.