Failure to maintain full Stock Quantity Sample Clauses

Failure to maintain full Stock Quantity. (i) Any failure by the Supplier to store or maintain the full Stock Quantity of any Products at the Contracting Company Premises for more than [seven (7) days], shall entitle the Contracting Company to claim from the Supplier liquidated damages in respect of each of such failure as follows: the sum equivalent to [one per cent (1%)] of the relevant costs for such Product for each day of delay (including Sundays and public holidays) or part thereof‌ after the relevant deadline up to [the date of the full Stock Quantity of such Product is made up by the Supplier], subject to a maximum of [ten per cent (10%)] of the relevant costs for such Product, without prejudice to any other liability or obligation of the Supplier under the relevant Statement of Work. The Supplier and the Contracting Company accept and agree that the aforesaid is a genuine pre-estimate of the loss that would be suffered by the Contracting Company resulting from or in connection with the Supplier’s failure to store or maintain the full Stock Quantity of any Products for more than [seven (7) days], taking into account all relevant considerations, including the disruptions caused to the Contracting Company’s operations and the possible costs in sourcing for substitute sources before the full Stock Quantity of such Product was made up. (ii) Such liquidated damages shall be paid to the Contracting Company not later than [thirty (30) days] from the date of issuance of the Contracting Company's written notification to the Supplier informing the Supplier of the amount of liquidated damages payable. The Contracting Company shall be entitled to deduct a sum equivalent to the liquidated damages payable and/or any payment due to the Contracting Company under Clause 15.11.4(i) from any monies due or to become due to the Supplier failing which the liquidated damages and/or such payments shall be a debt due from the Supplier to the Contracting Company. The Contracting Company shall be entitled to charge interest on any delayed payment by the Supplier at the rate of [eight per cent. (8%) per annum] or the maximum rate of interest permitted by law, if lower.
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Related to Failure to maintain full Stock Quantity

  • Failure to Maintain Financial Viability The System Agency may terminate the Grant Agreement if the System Agency, in its sole discretion, determines that Grantee no longer maintains the financial viability required to complete the services and deliverables, or otherwise fully perform its responsibilities under the Grant Agreement.

  • Failure to Maintain If the Tenant fails to obtain and maintain Renters Insurance as required under this Agreement, it shall be considered a violation and result in default of this Agreement.

  • Failure to Maintain Insurance Failure on the part of the Consultant to maintain the insurance as required shall constitute a material breach of agreement, upon which the City may, after giving five business days’ notice to the Consultant to correct the breach, immediately terminate the agreement or, at its discretion, procure or renew such insurance and pay any and all premiums in connection therewith, with any sums so expended to be repaid to the City on demand, or at the sole discretion of the City, offset against funds due the Consultant from the City.

  • Failure to Make Payment In the event a participating Authorized User fails to make payment to the Contractor for Products delivered, accepted and properly invoiced, within thirty calendar days of such delivery and acceptance, the Contractor may, upon five business days advance written notice to both the Commissioner and the Authorized User’s purchasing official, suspend additional shipments of Product or provision of services to such entity until such time as reasonable arrangements have been made and assurances given by such entity for current and future Contract payments.

  • Failure to Deliver Common Stock or Replacement Note Borrower'▇ ▇▇▇▇▇re to timely deliver Common Stock to the Holder pursuant to and in the form required by this Note and Section 9 of the Subscription Agreement, or if required a replacement Note.