Default Remedies Termination Sample Clauses
The "Default; Remedies; Termination" clause defines the consequences and procedures that apply if one party fails to fulfill its contractual obligations. Typically, this clause outlines what constitutes a default, the steps the non-breaching party must take to notify the defaulting party, and the remedies available, such as the right to terminate the agreement or seek damages. By clearly specifying the process for addressing breaches and the available remedies, this clause ensures both parties understand their rights and obligations in the event of non-performance, thereby reducing uncertainty and providing a structured approach to resolving disputes.
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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 Remedies Termination. If the Stop Work Order is canceled, ODHS may, after receiving and evaluating a request by the Contractor, make an adjustment in the time required to complete this Contract and the Contract price by a duly executed amendment.
Default Remedies Termination. A. [Sec. 400]
Default Remedies Termination. If the Stop Work Order is canceled, DHS may, after receiving and evaluating a request by the Contractor, make an adjustment in the time required to complete this Contract and the Contract price by a duly executed amendment.
Default Remedies Termination. 1. If the necessary funds are not available to fund this Agreement because of action by the Florida Legislature or the Office of the State Chief Financial Officer, or if any Defaults occur, as described below, all obligations on the part of FCT to make any further payment of funds hereunder shall terminate and FCT may exercise any of the remedies set forth herein. If FCT makes any payments or parts of payments after an Event of Default, such payment will not waive FCT’s right to exercise such remedies, and will not obligate FCT to make any further payments.
2. The following constitute a Default:
a. If FCT finds that any warranty or representation made by the Recipient in this Agreement, any previous agreement with FCT, or in any document provided to FCT is false or misleading in any respect.
b. If the Recipient fails to perform any of the terms or covenants contained in this Agreement or any previous agreement with FCT and has not cured such failure in timely fashion, or is unable or unwilling to meet its obligations hereunder; or
c. If any material adverse change in the Recipient’s financial condition occurs during the term of this Agreement and the Recipient fails to cure the material adverse change within thirty (30) days from the date written notice is sent to the Recipient by FCT; or
d. If any reports or documents required by this Agreement have not been timely submitted to FCT or have been submitted with incorrect, incomplete, or insufficient information; or
e. If the Recipient fails to perform any of its obligations under this Agreement in a timely fashion; or
f. If the Recipient fails to comply with Project deadlines set forth in the approved Management Plan; or
g. If the Recipient fails to keep the Project Site open to the public.
3. Upon the happening of a Default, FCT may, after giving thirty (30) calendar days’ notice, exercise any one or more of the following remedies, either concurrently or consecutively. The pursuit of any one of the following remedies shall not preclude FCT from pursuing any other remedies contained herein or otherwise provided at law or in equity:
a. Terminate this Agreement, provided the Recipient is given at least thirty (30) calendar days’ prior written notice of such termination. The notice shall be effective upon the date of the letter. Notification shall be given pursuant to Section V.
b. Commence an appropriate legal or equitable action to enforce performance of this Agreement.
c. Withhold or suspend payment of all ...
Default Remedies Termination. All provisions of this Section 13 are subject to the provisions of Section 21 regarding acceptable methods of providing notice, and when those methods become effective.
a. Default by Contractor. Contractor shall be in default under this Contract if:
(i) Contractor institutes or has instituted against it insolvency, receivership or bankruptcy proceedings, makes an assignment for the benefit of creditors, or ceases doing business on a regular basis;
(ii) Contractor no longer holds a license or certificate that is required for Contractor to perform its obligations under the Contract and Contractor has not obtained such license or certificate within fourteen (14) calendar days after Commission delivers notice of default to Contractor or such longer period as Commission may specify in the notice; or
(iii) Contractor commits any material breach or default of any covenant, warranty, obligation or agreement under this Contract, fails to perform its obligations under this Contract within the time specified or any extension of that time, or so fails to pursue its obligations as to endanger Contractor's performance under this Contract in accordance with its terms, and Contractor fails to cure the breach, default or failure within fourteen (14) calendar days after Commission delivers notice of default to Contractor or such longer period as Commission may specify in the notice.
Default Remedies Termination. Recipient will be in default under this Agreement upon the occurrence of any of the following events:
12.1. Recipient fails to perform, observe or discharge any of its covenants, agreements or obligations under this Agreement;
12.2. Any representation, warranty or statement made by Recipient in this Agreement or in any documents or reports relied upon by Agency to measure the delivery of services, the expenditure of funds or the performance by Recipient is untrue in any material respect when made;
12.3. Recipient
(a) applies for or consents to the appointment of, or taking of possession by, a receiver, custodian, trustee, or liquidator of itself or all of its property, (b) admits in writing its inability, or is generally unable, to pay its debts as they become due, (c) makes a general assignment for the benefit of its creditors, (d) is adjudicated a bankrupt or insolvent, (e) commences a voluntary case under the Federal Bankruptcy Code (as now or hereafter in effect), (f) files a petition seeking to take advantage of any other law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or adjustment of debts, (g) fails to controvert in a timely and appropriate manner, or acquiesces in writing to, any petition filed against it in an involuntary case under the Bankruptcy Code, or (h) takes any action for the purpose of effecting any of the foregoing; or
12.4. A proceeding or case is commenced, without the application or consent of Recipient, in any court of competent jurisdiction, seeking (a) the liquidation, dissolution or winding-up, or the composition or readjustment of debts of Recipient, (b) the appointment of a trustee, receiver, custodian, liquidator, or the like of Recipient or of all or any substantial part of its assets, or (c) similar relief in respect to Recipient under any law relating to bankruptcy, insolvency, reorganization, winding-up, or composition or adjustment of debts, and such proceeding or case continues undismissed, or an order, judgment, or decree approving or ordering any of the foregoing is entered and continues unstayed and in effect for a period of sixty consecutive days, or an order for relief against Recipient is entered in an involuntary case under the Federal Bankruptcy Code (as now or hereafter in effect).
Default Remedies Termination. Default occurs by (1) the failure of either party to perform as specifically described in the Agreement; (2) non-payment for services rendered, as described in the Agreement; (3) a unilateral change in contract terms not agreed to in writing by both parties; (4) court order. A non-defaulting party shall have the remedies afforded by law and in equity and shall have the right to terminate this Agreement. Notwithstanding, either party may terminate this Agreement by providing thirty
Default Remedies Termination. Default occurs by (1) the failure of either party to perform as specifically described in the Agreement; (2) non-payment for services rendered, as described in the Agreement; (3) a unilateral change in contract terms not agreed to in writing by both parties; (4) court order. A non-defaulting party shall have the remedies afforded by law and in equity and shall have the right to terminate this Agreement. Notwithstanding, either party may terminate this Agreement by providing thirty (30) days’ written notice to the other. Should UOG terminate this contract, Contractor will be paid the reasonable value for services performed that are acceptable to UOG.
Default Remedies Termination. DEFAULT BY CONTRACTOR Contractor will be in default under this Contract if: