Defaults; Termination Clause Samples

Defaults; Termination. A. The following conditions and occurrences shall constitute "Events of Default" by Licensee: 1. the failure to pay Licensor the full amount due it under any of the provisions of this Agreement by the prescribed date for such payment; 2. the failure to deliver full and accurate reports pursuant to any of the provisions of this Agreement by the prescribed due date therefore; 3. the making or furnishing of a knowingly false statement in connection with or as part of any material aspect of a report, notice or request rendered pursuant to this Agreement; 4. the failure to maintain the insurance required by Article 12; 5. the use of the licensed m▇▇▇ in an unauthorized or unapproved manner; 6. Licensee's use of other trademarks or in association with the Articles, without prior written consent of Licensor; 7. the commencement against Licensee of any proceeding in bankruptcy, or similar law, seeking reorganization, liquidation, dissolution, arrangement, readjustment, discharge of debt, or seeking the appointment of a receiver, trustee or custodian of all or any substantial part of Licensee's property, not dismissed within sixty (60) days, or Licensee's making of an assignment for the benefit of creditors, filing of a bankruptcy petition, its acknowledgment of its insolvency or inability to pay debts, or taking advantage of any other provision of the bankruptcy laws; 8. the material breach of any other material promise or agreement made herein. B. In the event Licensee fails to cure (i) an Event of Default within thirty (30) days after written notice of default is transmitted to Licensee under Article 14 A.3, A.5, A.6, or A.7; or (ii) Licensee fails to cure any other Event of Default within sixty (60) days after written notice of default is transmitted to Licensee or within such further period as Licensor may allow, this Agreement shall, at Licensor's option, be terminated, on notice to Licensee, and all the prorated Guaranteed Minimum Royalties for the Annual Period as in Article 8 above shall become due, without prejudice to Licensor's right to receive other payments due or owing to Licensor under this Agreement or to any other right of Licensor, including the right to damages and/or equitable relief. C. Upon the termination of this Agreement, in the event this Agreement is not renewed as provided in Article 4 above, or in the event of the termination or expiration of a renewal term of this Agreement, Licensee, except as specified below, will immediately discon...
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Defaults; Termination. 6.14.1 Of the Purchaser:
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Defaults; Termination. The Provider will not have the right to optionally terminate the Agreement. Generally, given that the Recipient’s performance under the Agreement will largely be controlled by the Provider, provisions will be included in the Agreement to prevent a termination which results from the Provider failing to cause the Recipient to perform or for events (other than payment defaults) which do not materially and adversely impact the Provider’s ability to provide the Services.
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Defaults; Termination. In case of default in payment for more than three months continuously by the MP Power Trading Company Limited, the developer can sell power to the third party.
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Defaults; Termination. A. The following conditions and occurrences shall constitute "Events of Default" by Licensee: 1. the failure to pay Licensor the full amount due it under any of the provisions of this Agreement by the prescribed date for such payment; 2. the failure to deliver full and accurate reports pursuant to any of the provisions of this Agreement by the prescribed due date therefore;
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Defaults; Termination. If the Developers fail to meet any of the timeframes or satisfy any of the obligations set forth in this Agreement, unless extended pursuant to the other terms of this Agreement, then the City shall have the right to notify the Developers in writing of the default. The Developers shall have a period of thirty (30) days after receipt of such written notice to cure the default (unless the default is of a nature which cannot reasonably be cured within thirty (30) days, in which event the Developers shall commence cure within such 30-day period and complete cure within ninety (90) days after receiving such written notice). If the Developers fail to cure the noticed default within the applicable time period, then the City may make a claim and collect on the Security Instruments (or the portion thereof required to cure the default), or terminate this Agreement by written notice to the Developers stating the City’s intent to terminate and describing those terms and conditions with which the Developers have failed to comply. Upon any default, and pending cure of the same (whether by the Developers or the City drawing on the Security Instruments as provided in Paragraph 4 above), the issuance of subdivision plats and site plan approvals shall cease until the default has been cured to the reasonable satisfaction of the City. This paragraph is not intended to replace any other legal or equitable remedies available to the City under Florida law.
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Defaults; Termination. Each of the following events shall constitute an event of default (“Event of Default”) by the Parties and, subject to Section 10.2 above, shall permit the non- defaulting Party to terminate this Agreement and/or pursue all other appropriate remedies: 11.1. The failure or omission by either Party to pay amounts required to be paid hereunder when due, and such failure or omission has continued for thirty (30) days after written notice from the other Party; 11.1.1. Either Party’s failure to observe or perform or cause to be observed or performed any other term, covenant, or agreement under this Agreement, and continuation of this failure for a period of ninety (90) days after written notice from the non-defaulting Party to the defaulting Party specifying the nature of such defaulting Party’s failure shall constitute a default under this Agreement; provided that if the same cannot be cured within ninety (90) days, then within such additional time, if any, as is reasonably necessary to complete such cure, provided that the defaulting Party has commenced such cure within the initial ninety (90) day period and diligently pursues such cure to completion. 11.1.2. A Party files for protection or liquidation under the bankruptcy laws of the United States or any other jurisdiction or has an involuntary petition in bankruptcy or a request for the appointment of a receiver filed against it and such involuntary petition or request is not dismissed within sixty (60) days after filing.
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Defaults; Termination. (a) If Seller fails in any material respect to comply with, fulfill or perform any covenant or obligation to be complied with, fulfilled or performed by it under this Agreement, or Seller fails or refuses to consummate the transactions under this Agreement in accordance with the terms and conditions of this Agreement other than by reason of nonfulfillment of any Seller’s Condition, or by reason of a Purchaser’s Default (as defined below) (any such event being herein referred to as a “Seller’s Default”), or if any Purchaser’s Condition described in Section 10 is not fulfilled on or before the Closing Date or waived by Purchaser, then, and in any such event, Purchaser shall have the right, at its election, and in addition to any other rights and remedies it may have under Section 21, to terminate this Agreement by written notice from Purchaser to Seller, in which event all liabilities and obligations of the parties hereunder (except as provided in Section 21 below) shall cease except for those which expressly survive termination of this Agreement, and the Deposit together with all interest earned thereon (except as described in Section 21 below) shall be returned immediately to Purchaser, provided that if the Seller willfully frustrates the sale of the Property or if specific performance is not available, then in addition to the refund of the Deposit, Seller shall reimburse Purchaser for Purchaser’s actual out-of-pocket costs and expenses in connection with its investigation of the Property not to exceed One Hundred Thousand Dollars ($100,000). (b) If Purchaser fails in any material respect to comply with, fulfill or perform any covenant or obligation to be complied with, fulfilled or performed by it under this Agreement, or Purchaser fails or refuses to consummate the transactions under this Agreement in accordance with the terms and conditions of this Agreement other than by reason of nonfulfillment of any Purchaser’s Condition, or by reason of a Seller’s Default (any such event being herein referred to as a “Purchaser’s Default”), or any Seller’s Condition described in Section 11 is not fulfilled on or before the Closing Date or waived by Seller, then, and in any such event, Seller shall have the right, at its election, and in addition to any other rights and remedies it may have under Section 21, to terminate this Agreement by written notice from Seller to Purchaser, in which event all liabilities and obligations of the parties hereunder (except as provi...
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Defaults; Termination 
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Related to Defaults; Termination

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately. b. If the Purchaser defaults in complying with any of these Conditions of Sale or in payment of any sums payable, then the Assignee may (without prejudice to its rights for specific performance) treat such default as a repudiation of the contract and terminate the sale by giving the Purchaser written notice thereof, in which event all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately. c. In the event of the sale being set aside for any reason whatsoever by the Assignee or by an Order of Court (other than that due to any act of default and/or omission by the Purchaser), then such sale shall be cancelled and become null and void and of no further effect wherein only monies paid by the Purchaser towards the account of the purchase price shall be refunded to the Purchaser free of interest less costs and fees incurred by the Assignee in connection with or relating to the sale. The Purchaser shall not be entitled to an account thereof or any claim or demand whatsoever against the Assignee, the Assignee’s Solicitors, the Auctioneer or their respective servants or agents on the above. A certificate by an officer of the Assignee verifying such expenses and/or fees shall be final and conclusive and shall be binding on the Purchaser. Upon payment by the Assignee herein, the Purchaser shall have no other or further claims, or demands whatsoever in nature and howsoever caused against the Assignee, the Assignee’s Solicitors and the Auctioneer or their respective servants or agents. d. If in the meanwhile the Purchaser has entered into possession of the Property, then the Purchaser is liable at own costs to reinstate the Property and thereafter peaceably to yield up vacant possession of the Property to the Assignee within fourteen (14) days from the date of notification of such termination failing which the Purchaser shall pay the Assignee interest/compensation charges at the rate of 10% per annum on the total purchase price calculated on daily basis from the date of such notification to the date of actual delivery of vacant possession and the Assignee reserves its right to take all further necessary steps or actions to recover or resume possession of the Property at the Purchaser’s costs and expenses. In the event the sale is terminated for any reason whatsoever, the Assignee shall not be liable to the Purchaser for the cost of any improvements to the Property carried out by the Purchaser. The costs to reinstate the Property (if any damage is caused by the Purchaser in possession thereof) or expenses to recover possession of the Property from the Purchaser shall be deducted and set-off against the monies paid herein towards account of the purchase price and thereafter in the event there is any residue, the said residue shall be refunded to the Purchaser free of interest or if the monies paid are not sufficient to cover all such costs and expenses, the Purchaser shall then reimburse and pay the balance amount outstanding to the Assignee failing which the Assignee shall be entitled to take all further necessary steps or actions to recover the same. For this purpose a certificate duly signed by an officer of the Assignee verifying the amount of such costs and expenses shall be accepted by the Purchaser as correct and conclusive. It shall be deemed final and binding upon the Purchaser. e. Subject as aforesaid, the Purchaser shall not be entitled to nor have any or further reimbursements, claims, demands or legal recourses of action or remedies whatsoever in nature and howsoever caused against the Assignee, the Assignee’s Solicitors, the Auctioneer or their respective servants or agents or any other party on account thereof. f. The Purchaser or the Purchaser’s Solicitors shall return or cause to be returned the Assignment or the Memorandum of Transfer and other documents to the Assignee with the Assignee’s interest intact PROVIDED ALWAYS THAT if the Assignment or the Memorandum of Transfer has been adjudicated and stamped, the Purchaser or the Purchaser’s Solicitors shall surrender the same to the relevant authorities to obtain a refund of the stamp duty paid and for cancellation of the same. g. The Assignee shall be at liberty to put up the Property for sale again at a time, place and reserve price to be fixed by the Assignee at its sole discretion or to dispose of and/or otherwise deal with the Property in whatsoever manner the Assignee shall think fit without further reference to the Purchaser. The costs and expenses of in connection with and resulting from such resale together with any deficiency in the price resulting from the resale or the purchase price if there is no resale (as the case may be) shall be recoverable from the defaulting Purchaser. For this purpose a certificate duly signed by an officer of the Assignee verifying the amount of such costs and expenses shall be accepted by the Purchaser as correct and conclusive. It shall be deemed final and binding upon the Purchaser.

  • Series Termination (a) If, on the May 2029 Distribution Date, the Invested Amount (after giving effect to all changes therein on such date) would be greater than zero, the Servicer, on behalf of the Trustee, shall, within the 40-day period which begins on such Distribution Date, solicit bids for the sale of Principal Receivables and the related Finance Charge Receivables (or interests therein) in an amount equal to the Invested Amount at the close of business on the last day of the Monthly Period preceding the Series 2024-3 Termination Date (after giving effect to all distributions required to be made on the Series 2024-3 Termination Date, except pursuant to this Section 7.02). Such bids shall require that such sale shall (subject to subsection 7.02(b)) occur on the Series 2024-3 Termination Date. The Transferor, any Affiliate thereof, any agent thereof or any other party consolidated with such Transferor for purposes of United States generally accepted accounting principles shall not be entitled to participate in such bidding process or to purchase the Receivables; provided, however, that, to the extent the Collateral Interest Holder is not the Transferor, an Affiliate thereof, an agent thereof or any other party consolidated with the Transferor for purposes of United States generally accepted accounting principles, the Collateral Interest Holder may participate in such bidding process. (b) The Servicer, on behalf of the Trustee, shall sell such Receivables (or interests therein) on the Series 2024-3 Termination Date to the bidder who made the highest cash purchase offer. The proceeds of any such sale shall be treated as Collections on the Receivables allocated to the Series 2024-3 Certificateholders pursuant to the Agreement and this Supplement; provided, however, that the Servicer shall determine conclusively the amount of such proceeds which are allocable to Finance Charge Receivables and the amount of such proceeds which are allocable to Principal Receivables. During the period from the May 2029 Distribution Date to the Series 2024-3 Termination Date, the Servicer shall continue to collect payments on the Receivables and allocate and deposit such Collections in accordance with the provisions of the Agreement and the Supplements.

  • Vendor’s Termination If TIPS fails to materially perform pursuant to the terms of this Agreement, Vendor shall provide written notice to TIPS specifying the default (“Notice of Default”). If TIPS does not cure such default within thirty (30) days, Vendor may terminate this Agreement, in whole or in part, for cause. If Vendor terminates this Agreement for cause, and it is later determined that the termination for cause was wrongful, the termination shall automatically be converted to and treated as a termination for convenience.

  • SUSPENSION & TERMINATION FOR DEFAULT Enterprise Services may suspend Contractor’s operations under this Contract immediately by written cure notice of any default. Suspension shall continue until the default is remedied to Enterprise Services’ reasonable satisfaction; Provided, however, that, if after thirty (30) calendar days from such a suspension notice, Contractor remains in default, Enterprise Services may terminate Contractor’s rights under this Contract. All of Contractor’s obligations to Enterprise Services and Purchasers survive termination of Contractor’s rights under this Contract, until such obligations have been fulfilled.

  • Termination by Default If the Bank is in default (as defined in Section 3(x)(1) of the Federal Deposit Insurance Act (12 U.S.C. Section 1813(x)(1)), all obligations under this Agreement shall terminate as of the date of default, but any vested rights of the Executive shall not be affected.