Remedies for Payment Default Sample Clauses

The "Remedies for Payment Default" clause defines the actions a party may take if the other party fails to make required payments under the agreement. Typically, this clause outlines steps such as charging interest on overdue amounts, suspending services, or even terminating the contract if payment is not received within a specified period. Its core function is to provide clear consequences for non-payment, thereby encouraging timely payments and protecting the non-defaulting party from financial loss.
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Remedies for Payment Default. If a Payment Default occurs, the Non-Defaulting Party may suspend performance of its obligations under this Agreement. Further, the Non-Defaulting Party may (A) at any time during the continuation of the Default Event, terminate this Agreement upon five (5) days prior written notice to the Defaulting Party, and (B) pursue any remedy under this Agreement, at law or in equity, including an action for damages.
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Remedies for Payment Default. If a Payment Default occurs, the Non-Defaulting Party may suspend performance of its obligations under this Agreement; however, if Seller is the Non-Defaulting Party, it agrees not to disconnect the System and suspend delivery of Energy to Customer when school and/or summer school, or other educational programs are in session. Further, the Non- Defaulting Party may (A) at any time during the continuation of the Default Event, terminate this Agreement upon five days prior written notice to the Defaulting Party, and (B) pursue any remedy under this Agreement, at law or in equity, including an action for damages.
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Remedies for Payment Default. If a Payment Default occurs, Seller may suspend performance of its obligations under this Agreement. Further, Seller may pursue any remedy under this Agreement, at law or in equity, including without limitation an action for damages and termination of this Agreement. . In the event Seller elects to suspend performance, Purchaser shall compensate Seller for all Lost Seller Revenues for the duration of such suspension.
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Remedies for Payment Default. Upon the occurrence of any Base Rent Payment Default, Security Deposit Payment Default, Purchase Price Payment Default or Bankruptcy Default (collectively, the "PAYMENT DEFAULT") and at any time thereafter so long as Tenant shall not have remedied all outstanding Payment Defaults, Landlord may do one or more of the following as Landlord may in its sole discretion elect (provided, that with respect to any Base Rent Payment Default or Purchase Price Payment Default, so long as Tenant satisfies the Minimum Coverage Ratio, Landlord may only exercise the remedies set forth below with respect to the Premises to which such Base Rent Payment Default or Purchase Price Payment Default relates): (i) Terminate this Lease, whereupon Landlord may, without breach of the peace and in accordance with applicable law, repossess the Premises and be entitled to recover as damages a sum of money equal to the total of (a) the reasonable cost of recovering possession of the Premises, (b) the reasonable cost of removing and storing Tenant's or any other occupant's property, (c) the unpaid Total Rent and any other reasonable sums accrued hereunder at the date of termination, and (d) any other damages owed by Tenant to Landlord under applicable law which are caused by such default; or (ii) Without having terminated this Lease, enter upon and take possession of the Premises, whereupon Landlord may, without breach of the peace and in accordance with applicable law, repossess the Premises by forcible entry or detainer suit, without terminating this Lease and without becoming liable for damages or guilty of trespass, in which event Landlord shall use reasonable efforts to relet the Premises for the account of Tenant. Upon termination of Tenant's right of possession to the Premises as provided herein, Tenant shall be liable for and shall pay to Landlord all Base Rent (and, if applicable, Overdue Rent) payable by Tenant under this Lease (monthly, without acceleration) plus an amount equal to (a) the reasonable cost of recovering possession of the Premises, (b) the reasonable cost of removing and storing any of Tenant's or any other occupant's property left on the Premises after re-entry, (c) the reasonable cost of any reletting and of the collection of the rent accruing from such reletting, (d) any other reasonable costs incurred by Landlord in connection with any such reletting, and (e) any other damages owed by Tenant to Landlord under applicable law, all reduced by any sums received by...
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Remedies for Payment Default. In the event that Purchaser fails to make any payment as required in this Agreement other than pursuant to the set-off rights under Section 9.6 above, and after proper notice and an opportunity to cure the default as set forth below, the contractual rights as set forth in the SR Agreement shall revert back to a company, Register.sr, Inc., controlle▇ ▇▇ ▇▇▇ ▇▇llers as designated by the Sellers. Upon exercise of Sellers' reversion rights hereunder, Purchaser shall take reasonable measures to transfer the SR Agreement to Register.sr, Inc. Prior to ▇▇▇ ▇▇▇▇▇▇▇on of contractual rights as described hereunder, Sellers shall provide Purchaser with notification of default and will further provide Purchaser thirty (30) days from the date upon which the notice is sent by Sellers to cure the default. In the event of a reversion under this Section 9.7, any and all liabilities and Losses for any and all breaches by or claims against Purchaser under this Agreement, including pursuant to Purchaser's indemnification obligations under Section 9.3 of this Agreement, shall be fully satisfied by such reversion and Purchaser shall have no further liability under this Agreement thereafter; provided, however, Sellers may continue to recover the Purchase Price, payment of which shall be deemed accelerated and immediately due and owing in its entirety upon default of the Purchaser as set forth herein.
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Remedies for Payment Default. If a Payment Default occurs (other than an amount that is subject to a good faith dispute), a Non-Defaulting Party may suspend performance of its obligations under this Agreement. Further, a Non-Defaulting Party may pursue any remedy under this Agreement, at law or in equity, including an action for damages (not including consequential or punitive damages) and termination of this Agreement, upon ten (10) days’ prior written notice to the Defaulting Party following the Payment Default; provided, however, the Defaulting Party may revoke such termination if it pays the amount due and payable under this Agreement within such ten (10) day period. For the avoidance of doubt, this expressly includes any damages resulting from DOER 225 CMR 20.06.
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Related to Remedies for Payment Default

  • Remedies for Default (a) Enterprise Services’ rights to suspend and terminate Contractor’s rights under this Contract are in addition to all other available remedies. (b) In the event of termination for default, Enterprise Services may exercise any remedy provided by law including, without limitation, the right to procure for all Purchasers replacement Services. In such event, Contractor shall be liable to Enterprise Services for damages as authorized by law including, but not limited to, any price difference between the Contract price and the replacement or cover price as well as any administrative and/or transaction costs directly related to such replacement procurement – e.g., the cost of the competitive procurement.

  • Remedies Upon Event of Default If any Event of Default occurs and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: (a) declare the commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower; (c) require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and (d) exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders and the L/C Issuer under the Loan Documents; provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further act of the Administrative Agent or any Lender.