Effect of Failure to Complete Phase I Contribution Clause Samples

Effect of Failure to Complete Phase I Contribution. Upon PM&G’s resignation (either voluntary or deemed) under Section 3.3(a), PM&G shall have no further obligation to make any remaining portion of its Initial Contribution, and, subject to the other provisions of this Section 3.3(b) and Section 9.1(a), the relinquishment of PM&G’s Interest under Section 9.1(a) shall be the sole remedy for the failure of PM&G to complete its Initial Contribution; provided, however, that (i) if PM&G resigns during the first Annual Period and has not contributed to the Company and caused the Company to incur at least $2,000,000 in Qualifying Expenses (subject to PM&G’s right to remedy a deficiency under Section 3.2(b)(v)), then PM&G shall pay to Company the amount (if any) by which $2,000,000 exceeds the Qualifying Expenses actually incurred by PM&G before the resignation, (ii) PM&G shall not be relieved of its obligation to fund any contractual obligations to third parties entered into by PM&G on behalf of the Company before the date of the resignation, and (iii) PM&G shall have the rights and obligations specified in Section 9.1(a). Limited Liability Company Agreement of Lookout Mountain LLC: Page 7
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Related to Effect of Failure to Complete Phase I Contribution

  • Failure to Complete If Artist becomes ill, dies, or is otherwise unable or unwilling to complete the Project in accordance with the Agreement, any work already done on the Project will be the City’s property. The City will be entitled to withhold any sums not yet paid to Artist, and may use any such sums toward completion of the Project in any manner the City deems appropriate.

  • Our Liability for Failure to Complete Transactions If we do not properly complete a transaction from your Card on time or in the correct amount according to our Agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • LIABILITY FOR FAILURE TO COMPLETE TRANSACTIONS If We do not

  • Effect of Failure or Delay in Requesting Compensation Failure or delay on the part of any Lender or the Issuing Bank to demand compensation pursuant to this Section 5.01 shall not constitute a waiver of such Lender’s or the Issuing Bank’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender or the Issuing Bank pursuant to this Section 5.01 for any increased costs or reductions incurred more than 180 days prior to the date that such Lender or the Issuing Bank, as the case may be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s or the Issuing Bank’s intention to claim compensation therefor; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof.

  • Waiver; Deficiency Each Grantor waives and agrees not to assert any rights or privileges which it may acquire under Section 9-112 of the New York UCC. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of any attorneys employed by the Administrative Agent or any Lender to collect such deficiency.