Failure to Adopt Sample Clauses

The "Failure to Adopt" clause defines the consequences or procedures that apply if a party does not formally accept or implement a required policy, standard, or agreement within a specified timeframe. Typically, this clause outlines what constitutes a failure to adopt, such as missing a deadline to approve new procedures or refusing to implement agreed-upon changes, and may specify remedies, penalties, or alternative actions that the other party can take. Its core practical function is to ensure that both parties are incentivized to act promptly and to provide a clear path forward if one party does not fulfill its adoption obligations, thereby reducing uncertainty and potential disputes.
POPULAR SAMPLE Copied 1 times
Failure to Adopt. In the event that any Participating Entity fails to adopt this Agreement, then this Agreement shall be effective with respect to those Participating Entities which adopt this Agreement provided, however, that if Granville County fails to adopt this Agreement, then this Agreement shall be null and void and of no effect. If less than all of the Participating Entities fail to adopt this Agreement, any of the other Participating Entities may withdraw from this Agreement prior to July 1, 2012 by appropriate board action.
View SourceView Similar (2)
Failure to Adopt. If, by the first day of any Contract Year after the first Contract Year, the parties are unable to reach agreement concerning any item or portion of the Annual Budget for such Contract Year, then the amount(s) of such item or portion of the Annual Budget for such Contract Year shall be equal to 105% of the amount for the corresponding item or portion of the Annual Budget for the preceding Contract Year.
View SourceView Similar (4)
Failure to Adopt. Unless and until the Management Committee adopts a new Annual Plan for an ensuing fiscal year of the Company, the then most recent Annual Plan adopted by the Management Committee shall continue as the Annual Plan for such ensuing fiscal year; provided, however, that such existing Annual Plan will automatically be adjusted for such ensuing fiscal year to (i) properly account for changes in non-discretionary expenditures such as real estate taxes, insurance premiums, utility charges and emergency repair costs; (ii) limit capital expenditures to only such capital expenditures which are already provided for in such existing Annual Plan or in a previously existing Project Plan but which have not yet been expended; and (iii) exclude any and all provisions for Additional Contributions (other than as expressly provided in the prior two (2) clauses) and the acquisition of new Projects.
View SourceView Similar (2)
Failure to Adopt. If, by the first day of any Annual Period, the Parties are unable to reach agreement concerning any portion of the Annual Budget for such Annual Period, the Annual Budget proposed by Seller shall be in effect for such Annual Period. Those portions of such Annual Budget that are in dispute shall be resolved in accordance with the dispute resolution procedures set forth in Article 14 of this Agreement, and the losing Party with respect to any such arbitration shall pay all reasonable costs of the winning Party associated therewith, including interest at the Interest Rate on any overpayment by Buyer and reasonable attorneys' and arbitration fees.
View Source
Failure to Adopt. If, by 30 days prior to the first day of any Lease Year, the parties are unable to reach agreement concerning any portion of the Annual Operating Plan and/or Annual Budget for such Lease Year, those portions of the Annual Operating Plan and/or Annual Budget that are not in dispute shall become effective on the first day of the applicable Lease Year. The parties shall continue to work in good faith to resolve any remaining portions of the Annual Operating Plan and/or Annual Budget still in dispute, and until resolution is reached, those portions of the proposed Annual Budget and Annual Operating Plan shall become effective on the first day of the applicable Lease Year.
View Source
Failure to Adopt. If neither the Company nor any Members adopt the bona fide agreement, then the Transferor may proceed with the assignment and the Transferee shall become a Member. If the Company or Members adopting the bona fide agreement shall be in default on the agreement for a period of 6 months or longer, Transferor may foreclose his interest and transfer the same without approval of the Company. Upon such Transfer, the Transferee shall become a Member, subject to all of the rights, powers, restrictions, and liabilities of a Member, including any calls for capital contribution outstanding against the Membership interest transferred.
View Source

Related to Failure to Adopt

  • Failure to Act Except for action expressly required of Agent hereunder and under the other Financing Agreements, Agent shall in all cases be fully justified in failing or refusing to act hereunder and thereunder unless it shall receive further assurances to its satisfaction from Lenders of their indemnification obligations under Section 12.5 hereof against any and all liability and expense that may be incurred by it by reason of taking or continuing to take any such action.

  • Failure to Agree If the Contractor claims entitlement to a change in the Contract, and the Department does not agree that any action or event has occurred to justify any change in time or compensation, or if the parties fail to agree upon the appropriate amount of the adjustment in time or compensation, the Department will unilaterally make such changes, if any, to the Contract, as it determines are appropriate pursuant to the Contract. The Contractor shall proceed with the Work and the Department's directives, without interruption or delay, and shall make a claim as provided in Article 12. Failure to proceed due to a dispute over a change request shall constitute a material breach of the Contract and entitle the Department to all available remedies for such breach, including, without limitation, termination for default.

  • Failure to Elect If no election as to the Class of a Syndicated Borrowing is specified, then the requested Syndicated Borrowing shall be deemed to be under the Multicurrency Commitments. If no election as to the Currency of a Syndicated Borrowing is specified, then the requested Syndicated Borrowing shall be denominated in Dollars. If no election as to the Type of a Syndicated Borrowing is specified, then the requested Borrowing shall be a Eurocurrency Borrowing having an Interest Period of one month and, if an Agreed Foreign Currency has been specified, the requested Syndicated Borrowing shall be a Eurocurrency Borrowing denominated in such Agreed Foreign Currency and having an Interest Period of one month. If a Eurocurrency Borrowing is requested but no Interest Period is specified, (i) if the Currency specified for such Borrowing is Dollars (or if no Currency has been so specified), the requested Borrowing shall be a Eurocurrency Borrowing denominated in Dollars having an Interest Period of one month’s duration, and (ii) if the Currency specified for such Borrowing is an Agreed Foreign Currency, the Borrower shall be deemed to have selected an Interest Period of one month’s duration.

  • Failure to Notify If Contractor fails to specify in writing any problem or circumstance that materially affects the costs of its delivery of services or products, including a material breach by the Department, about which Contractor knew or reasonably should have known with respect to the period during the term covered by Contractor's status report, Contractor shall not be entitled to rely upon such problem or circumstance as a purported justification for an increase in the price for the agreed upon scope.

  • Failure to Appoint If the party receiving the notice fails to appoint a nominee or if the two (2) nominees fail to agree upon a Chairperson within seven (7) days of their appointment, the appointment shall be made by the Minister of Labour upon request of either party.