RIGHT TO WITHHOLD FUNDS, REQUIRE REFUND OR TERMINATE AGREEMENT Sample Clauses

RIGHT TO WITHHOLD FUNDS, REQUIRE REFUND OR TERMINATE AGREEMENT. 15.1. Where the Commission is of the reasonable opinion that: a) there has been a significant deterioration in the financial circumstances of the RTO; b) the RTO has failed to comply with some or all of its material obligations pursuant to this Agreement and, where the non- compliance is capable of remedy by the RTO, the RTO has failed to remedy the non-compliance within such reasonable period as specified by the Commission in writing; c) the RTO has not provided some or all of the Training Services for which Funds have been paid or claimed under the Agreement in respect of an Eligible Individual, or has not provided those Training Services to a standard satisfactory to the Commission; d) there has been any fraud or reasonably suspected fraud relating to the RTO or the Funds, misappropriation of Funds by the RTO or there has otherwise been any misleading or deceptive conduct on the part of the RTO in connection with this Agreement or the provision or use of the Funds; e) the registration of the RTO under the Act is suspended or cancelled; or f) the RTO has become subject to an Insolvency Event then the Commission may in its absolute discretion do one or more of the following: g) withhold, suspend, cancel or terminate any payment of the Funds (in whole or part) under this Agreement for such period the Commission reasonably deems appropriate (including until such time as any non compliance by the RTO with its obligations under the Agreement is addressed to the satisfaction of the Commission); h) require the RTO to refund such amount of the Funds previously paid as the Commission reasonably deems appropriate (together with interest calculated daily at the rate prescribed under Penalty Interest Rates Act 1983 (Vic) at the date of this Agreement until the amount is refunded by the RTO); i) set off money which the Commission is satisfied is due to it by reason of the RTO’s non compliance with this Agreement from Funds payable to the RTO under this Agreement; j) suspend the performance of the Training Services to some or all Eligible Individuals (or any part of the Training Services) for such period the Commission reasonably deems appropriate; k) arrange for another RTO to provide some Training Services to some or all Eligible Individuals (or any part of the Training Services) for such period the Commission reasonably deems appropriate; and / or l) immediately terminate this Agreement by giving written notice to the RTO. 15.2. This Agreement may be terminated at ...
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