Common use of Defaulting Party Clause in Contracts

Defaulting Party. The Management Board is further entitled to terminate a Party’s participation to the Consortium in the event that it identifies a breach by a Party of its obligations under this ICA or the Grant Agreement (e.g. improper implementation of the project). The Research Leader or, if the Research Leader is in breach of its obligations, the Party appointed by the Management Board, will give written notice to such Party requiring that such breach will be remedied within 30 (thirty) calendar days from the date of receipt of the written notice by the Party. If such breach is substantial and is not remedied within that period or is not capable of remedy, the Project may decide to declare the Party to be a Defaulting Party and to decide on the consequences thereof, which may include termination of its participation. A Party that is declared a Defaulting Party shall bear all actual and reasonable costs incurred by the other Parties under the Project as a result of the Defaulting Party’s breach of obligations, provided that the reimbursement of such cost towards the other Parties collectively shall be limited to once the Party’s share of the total costs of the Project. Any excess amount shall be apportioned to the remaining Parties pro rata to their share in the total costs of the Project as identified in the Budget. The Management Board is further entitled to recover any payments already paid to the Defaulting Party until the effective date of the declaration of the Party as a Defaulting Party.

Defaulting Party. The Management Board Project Committee is further entitled to terminate a Party’s participation to the Consortium Agreement in the event that it identifies a breach by a Party of its obligations under this ICA Consortium Agreement or the Grant PPP Allowance Agreement (e.g. improper implementation of the project). The Research Leader Coordinator or, if the Research Leader Coordinator is in breach of its obligations, the Party appointed by the Management BoardProject Committee, will give written notice to such Party requiring that such breach will be remedied within 30 (thirty) calendar days from the date of receipt of the written notice by the Party. If such breach is substantial and is not remedied within that period or is not capable of remedy, the Project Committee may decide to declare the Party to be a Defaulting Party and to decide on the consequences thereof, which may include termination of its participationparticipation unless failure to comply is not in reasonable proportion to the premature termination of the Project. A Party that is declared a Defaulting Party shall bear all actual and reasonable costs incurred by the other Parties under the Project as a result of the Defaulting Party’s breach of obligations, provided that the reimbursement of such cost towards the other Parties collectively shall be limited to once the Party’s share of the total costs of the Project. Any excess amount shall be apportioned to the remaining Parties pro rata to their share in the total costs of the Project as identified in the Budget. The Management Board Project Committee is further entitled to recover any payments already paid to the Defaulting Party until the effective date of the declaration of the Party as a Defaulting Party.

Defaulting Party. The Management Board Project Committee is further entitled to terminate a Party’s participation to the Consortium Agreement in the event that it identifies a breach by a Party of its obligations under this ICA Consortium Agreement or the Grant PPP-Allowance Agreement (e.g. improper implementation of the project). The Research Leader Coordinator or, if the Research Leader Coordinator is in breach of its obligations, the Party appointed by the Management BoardProject Committee, will give written notice to such Party requiring that such breach will be remedied within 30 (thirty) calendar days from the date of receipt of the written notice by the Party. If such breach is substantial and is not remedied within that period or is not capable of remedy, the Project may decide to declare the Party to be a Defaulting Party and to decide on the consequences thereof, which may include termination of its participation. A Party that is declared a Defaulting Party shall bear all actual and reasonable costs incurred by the other Parties under the Project as a result of the Defaulting Party’s breach of obligations, provided that the reimbursement of such cost towards the other Parties collectively shall be limited to once the Party’s share of the total costs of the Project. Any excess amount shall be apportioned to the remaining Parties pro rata to their share in the total costs of the Project as identified in the Budget. The Management Board Project Committee is further entitled to recover any payments already paid to the Defaulting Party until the effective date of the declaration of the Party as a Defaulting Party.

Defaulting Party. The Management Board Project Committee is further entitled to terminate a Party’s participation to the Consortium Agreement in the event that it identifies a breach by a Party of its obligations under this ICA Consortium Agreement or the Grant TKI-Allowance Agreement (e.g. improper implementation of the project). The Research Leader Coordinator or, if the Research Leader Coordinator is in breach of its obligations, the Party appointed by the Management BoardProject Committee, will give written notice to such Party requiring that such breach will be remedied within 30 (thirty) calendar days from the date of receipt of the written notice by the Party. If such breach is substantial and is not remedied within that period or is not capable of remedy, the Project may decide to declare the Party to be a Defaulting Party and to decide on the consequences thereof, which may include termination of its participation. A Party that is declared a Defaulting Party shall bear all actual and reasonable costs incurred by the other Parties under the Project as a result of the Defaulting Party’s breach of obligations, provided that the reimbursement of such cost towards the other Parties collectively shall be limited to once the Party’s share of the total costs of the Project. Any excess amount shall be apportioned to the remaining Parties pro rata to their share in the total costs of the Project as identified in the Budget. The Management Board Project Committee is further entitled to recover any payments already paid to the Defaulting Party until the effective date of the declaration of the Party as a Defaulting Party.