Financial Difficulties and Payroll Failures Sample Clauses

The 'Financial Difficulties and Payroll Failures' clause addresses situations where a party experiences financial instability or fails to meet payroll obligations. Typically, this clause outlines the steps to be taken if a company cannot pay its employees or is facing insolvency, such as notifying the other party, triggering default provisions, or allowing for contract termination. Its core function is to protect the interests of the non-defaulting party by providing clear remedies and procedures in the event of financial distress, thereby minimizing risk and ensuring business continuity.
Financial Difficulties and Payroll Failures. Should the Employer become tardy or delinquent in the payment of wages, or operate in receivership or bankruptcy or under the supervision of a creditor’s committee, or undertake the liquidation of its business, or otherwise become involved in financial difficulties, the Employer shall, upon demand by the Union, if not prohibited by law or court order, pay the Employees on a daily basis. If the Employees are not paid within seven
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Financial Difficulties and Payroll Failures. (a) Where the Producer fails to pay compensation and benefits in accordance with this Agreement, a Guild Member may refuse to work, but only with the prior permission of the District Council, and except i. as provided in Article 16.02, Health and Safety -Guild Member Prerogative; or
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Financial Difficulties and Payroll Failures. Where the Producer fails to pay remuneration and benefits in accordance with this Agreement for more than a week, a Director may refuse to perform services until the Producer remedies such default. This does not free the Producer from paying the Director’s Gross remuneration. In such a case the Guild may use the security to pay or have the Director paid. In all cases, even if that producer had provided a production guarantee, the Producer must replenish the bond provided in Articles 19.04 or 19.05 and pay any outstanding remuneration, dues, and contributions before requesting the Director to return to work.
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Financial Difficulties and Payroll Failures. Should the Employer become tardy or delinquent in the payment of wages, or operate in receivership or bankruptcy or under the supervision of a creditor’s committee, or undertake the liquidation of its business, or otherwise become involved in financial difficulties, the Employer shall, upon demand by the Union, if not prohibited by law or court order, pay the Employees on a daily basis. If the Employees not paid within seven (7) calendar days of either the end of the production or the end of the preceding work week, the Union may claim against the monetary guarantee or bond on behalf of such Employees.
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Financial Difficulties and Payroll Failures. (a) Where the Producer fails to pay compensation and benefits in accordance with this Agreement, a Guild Member may refuse to work, but only with the prior permission of the District Council, and except (i) As provided in article 14.3, Health and Safety Guild Member Prerogative; or (ii) In cases where the failure to pay is as a result of bona fide dispute or error. (b) If the Guild Members are not paid within seven (7) calendar Days of the end of the preceding Work Week, the District Council may claim against the monetary guarantee or bond on behalf of such Guild Members, if not prohibited by law or court order. (c) The Producer must replenish the bond and pay any outstanding compensation and benefits before requesting the Guild Members to return to work. (d) A Guild Member’s refusal to work under this article is not a breach of this Agreement, or the Guild Member’s Contract for Services. (e) If the Guild Member refuses to work under this article, then the Producer will not: (i) Institute any disciplinary or other action; (ii) Consider the refusal to work to be resignation of the Guild Member’s engagement; or (iii) Seek damages from a Guild Member or the District Council.
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Related to Financial Difficulties and Payroll Failures

  • Unforeseeable difficulties Except as otherwise stated in the Agreement: (a) the Contractor accepts complete responsibility for having foreseen all difficulties and costs of successfully completing the Works; (b) the Contract Price shall not be adjusted to take account of any unforeseen difficulties or costs; and (c) the Scheduled Completion Date shall not be adjusted to take account of any unforeseen difficulties or costs.

  • SAVINGS/FORCE MAJEURE A Force Majeure occurrence is an event or effect that cannot be reasonably anticipated or controlled and is not due to the negligence or willful misconduct of the affected party. Force Majeure includes, but is not limited to, acts of God, acts of war, acts of public enemies, terrorism, strikes, fires, explosions, actions of the elements, floods, or other similar causes beyond the control of the Contractor or the Commissioner in the performance of the Contract where non- performance, by exercise of reasonable diligence, cannot be prevented. The affected party shall provide the other party with written notice of any Force Majeure occurrence as soon as the delay is known and provide the other party with a written contingency plan to address the Force Majeure occurrence, including, but not limited to, specificity on quantities of materials, tooling, people, and other resources that will need to be redirected to another facility and the process of redirecting them. Furthermore, the affected party shall use its commercially reasonable efforts to resume proper performance within an appropriate period of time. Notwithstanding the foregoing, if the Force Majeure condition continues beyond thirty (30) days, the Parties shall jointly decide on an appropriate course of action that will permit fulfillment of the Parties’ objectives hereunder. The Contractor agrees that in the event of a delay or failure of performance by the Contractor, under the Contract due to a Force Majeure occurrence: a. The Commissioner may purchase from other sources (without recourse to and by the Contractor for the costs and expenses thereof) to replace all or part of the Products which are the subject of the delay, which purchases may be deducted from the Contract quantities without penalty or liability to the State, or b. The Contractor will make commercially reasonable efforts to provide Authorized Users with access to Products first in order to fulfill orders placed before the Force Majeure event occurred. The Commissioner agrees that Authorized Users shall accept allocated performance or deliveries during the occurrence of the Force Majeure event. Neither the Contractor nor the Commissioner shall be liable to the other for any delay in or failure of performance under the Contract due to a Force Majeure occurrence. Any such delay in or failure of performance shall not constitute default or give rise to any liability for damages. The existence of such causes of such delay or failure shall extend the period for performance to such extent as determined by the Contractor and the Commissioner to be necessary to enable complete performance by the Contractor if reasonable diligence is exercised after the cause of delay or failure has been removed. Notwithstanding the above, at the discretion of the Commissioner where the delay or failure will significantly impair the value of the Contract to the State or to Authorized Users, the Commissioner may terminate the Contract or the portion thereof which is subject to delays, and thereby discharge any unexecuted portion of the Contract or the relative part thereof. In addition, the Commissioner reserves the right, in his/her sole discretion, to make an equitable adjustment in the Contract terms and/or pricing should extreme and unforeseen volatility in the marketplace affect pricing or the availability of supply. "Extreme and unforeseen volatility in the marketplace" is defined as market circumstances which meet the following criteria: (i) the volatility is due to causes outside the control of Contractor; (ii) the volatility affects the marketplace or industry, not just the particular Contract source of supply; (iii) the effect on pricing or availability of supply is substantial; and (iv) the volatility so affects Contractor's performance that continued performance of the Contract would result in a substantial loss. Failure of the Contractor to agree to any adjustment shall be a dispute under the Disputes clause; provided however, that nothing in this clause shall excuse the Contractor from performing in accordance with the Contract as changed.

  • Termination Due to Force Majeure Event If the period of Force Majeure continues or is in the reasonable judgment of the Parties likely to continue beyond a period of 120 (one hundred and twenty) Days, the Parties may mutually decide to terminate this Agreement or continue this Agreement on mutually agreed revised terms. If the Parties are unable to reach an agreement in this regard, the Affected Party shall after the expiry of the said period of 120 (one hundred and twenty ) Days be entitled to terminate the Agreement in which event, the provisions of Articles 16 and 17 shall, to the extent expressly made applicable, apply.

  • Tax Relief Services Bank will provide tax relief services as provided in Section 8.2.

  • Available Relief for a Force Majeure Event 11.7.1 Subject to this Article 11: (a) no Party shall be in breach of its obligations pursuant to this Agreement except to the extent that the performance of its obligations was prevented, hindered or delayed due to a Force Majeure Event; (b) every Party shall be entitled to claim relief in relation to a Force Majeure Event in regard to its obligations, including but not limited to those specified under Article 4.5; (c) For avoidance of doubt, neither Party’s obligation to make payments of money due and payable prior to occurrence of Force Majeure events under this Agreement shall be suspended or excused due to the occurrence of a Force Majeure Event in respect of such Party. (d) Provided that no payments shall be made by either Party affected by a Force Majeure Event for the period of such event on account of its inability to perform its obligations due to such Force Majeure Event.