Settlement for Sample Clauses

The 'Settlement for' clause defines the terms and conditions under which parties resolve outstanding obligations or disputes, typically involving payment or performance. It specifies what is being settled, such as a debt, claim, or contractual duty, and outlines the method and timing of settlement, for example, through a lump sum payment or delivery of goods. This clause ensures that both parties have a clear understanding of how and when their obligations are considered fulfilled, thereby reducing the risk of future disagreements or litigation over the settled matter.
Settlement for damages due to Failure to fulfil the Requirements on Health, Safety, and Environment Established by this Contract A) US$ 650 (six hundred and fifty Dollars) in case of serious breach. B) US$ 1,300 (one thousand three hundred Dollars) in case of very serious breach. In the case that the breach expressed in points A), B) and the “extremely serious” ones cause injuries to workers, ENEL –in its sole discretion– shall have the right to claim the settlement of damages up to a sum equal to 2% of the whole Contract value, and in no event to a sum lower than US$ 1,300.00 (one thousand three hundred Dollars). Along with the settlement of damages expressed above, ENEL –in its sole discretion– has the necessary authority to: Stop the activities for the execution of the Contract, during a certain number of days, which may vary in relation to the level of importance of the breach and, in any case, until any adjustment or improvement to correct said breach has been carried out; and without the SUPPLIER having the right to extend the established period for completing the works or to claim any applicable compensation for damages. Demand that the SUPPLIER provides its employees –the persons to whom the breach may be attributed– with an additional training consisting in a 16 hour course on safety and environment. Withhold a sum equal to 10% of the payment to the SUPPLIER from the moment the breach is verified until it is established that any adjustment or improvement has been carried out to correct said breach. If the number of breaches is such that the value of the settlement of damages reaches 5% of the contractual value, ENEL shall be authorized to terminate the Contract after notifying the SUPPLIER of its decision. The application of penalties shall have an impact on the SUPPLIER'S qualification rate. The application of penalties shall be carried out in accordance with the local tax laws. ENEL shall donate the amount of penalties to a fund kept to finance information and training on safety and environment addressed to the SUPPLIERS. DECLARATION OF CONFLICT OF INTEREST [1] (Legal Person) The Company in the person of its legal representative .............................................................. Acknowledges that:  The ENEL Group has adopted a Code of Ethics and has approved the Zero Tolerance Plan against bribery;  These documents express the commitments and the ethical responsibility of ENEL Group in managing its business and relations with third parties and re...
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Settlement for damages due to Failure to fulfil the Requirements on Health, Safety, and Environment Established by this Contract A) US$ 650 (six hundred and fifty Dollars) in case of serious breach. B) US$ 1,300 (one thousand three hundred Dollars) in case of very serious breach. In the case that the breach expressed in points A), B) and the “extremely serious” ones cause injuries to workers, ENEL –in its sole discretion– shall have the right to claim the settlement of damages up to a sum equal to 2% of the whole Contract value, and in no event to a sum lower than US$ 1,300.00 (one thousand three hundred Dollars). Along with the settlement of damages expressed above, ENEL –in its sole discretion– has the necessary authority to: Stop the activities for the execution of the Contract, during a certain number of days, which may vary in relation to the level of importance of the breach and, in any case, until any adjustment or improvement to correct said breach has been carried out; and without the Contractor having the right to extend the established period for completing the works or to claim any applicable compensation for damages. Demand that the Contractor provides its employees –the persons to whom the breach may be attributed– with an additional training consisting in a 16 hour course on safety and environment. Withhold a sum equal to 10% of the payment to the Contractor from the moment the breach is verified until it is established that any adjustment or improvement has been carried out to correct said breach. If the number of breaches is such that the value of the settlement of damages reaches 5% of the contractual value, ENEL shall be authorized to terminate the Contract after notifying the Contractor of its decision. The application of penalties shall have an impact on the Contractor's qualification rate. The application of penalties shall be carried out in accordance with the local tax laws. ENEL shall donate the amount of penalties to a fund kept to finance information and training on safety and environment addressed to the contractor`s. DECLARATION OF CONFLICT OF INTEREST [1] (Legal Person) The Company in the person of its legal representative .............................................................. Acknowledges that: ▪ The ENEL Group has adopted a Code of Ethics and has approved the Zero Tolerance Plan against bribery; ▪ These documents express the commitments and the ethical responsibility of ENEL Group in managing its business and relations with third p...
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Settlement for damages due to Failure to fulfil the Requirements on Health, Safety, and Environment Established by this Contract A) US$ 650 (six hundred and fifty Dollars) in case of serious breach. B) US$ 1,300 (one thousand three hundred Dollars) in case of very serious breach. In the case that the breach expressed in points A), B) and the “extremely serious” ones cause injuries to workers, ENEL –in its sole discretion– shall have the right to claim the settlement of damages up to a sum equal to 2% of the whole Contract value, and in no event to a sum lower than US$ 1,300.00 (one thousand three hundred Dollars). Along with the settlement of damages expressed above, ENEL –in its sole discretion– has the necessary authority to:
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Related to Settlement for

  • Payment for Securities Sold, etc In its sole discretion and from time to time, the Custodian may credit the Fund Custody Account, prior to actual receipt of final payment thereof, with (i) proceeds from the sale of Securities which it has been instructed to deliver against payment, (ii) proceeds from the redemption of Securities or other assets of the Fund, and (iii) income from cash, Securities or other assets of the Fund. Any such credit shall be conditional upon actual receipt by Custodian of final payment and may be reversed if final payment is not actually received in full. The Custodian may, in its sole discretion and from time to time, permit the Fund to use funds so credited to the Fund Custody Account in anticipation of actual receipt of final payment. Any such funds shall be repayable immediately upon demand made by the Custodian at any time prior to the actual receipt of all final payments in anticipation of which funds were credited to the Fund Custody Account.

  • Payment for TIPS Sales TIPS Members may make payments for TIPS Sales directly to Vendor, Vendor’s Authorized Reseller, or as otherwise agreed to in the applicable Supplemental Agreement after receipt of the invoice and in compliance with applicable payment statutes. Regardless of how payment is issued or received for a TIPS Sale, Vendor is responsible for all reporting and TIPS Administration Fee payment requirements as stated herein.

  • Payment for Securities Sold In its sole discretion and from time to time, the Custodian may credit the Fund Custody Account, prior to actual receipt of final payment thereof, with (i) proceeds from the sale of Securities which it has been instructed to deliver against payment, (ii) proceeds from the redemption of Securities or other assets of the Fund, and (iii) income from cash, Securities or other assets of the Fund. Any such credit shall be conditional upon actual receipt by Custodian of final payment and may be reversed if final payment is not actually received in full. The Custodian may, in its sole discretion and from time to time, permit the Fund to use funds so credited to the Fund Custody Account in anticipation of actual receipt of final payment. Any such funds shall be repayable immediately upon demand made by the Custodian at any time prior to the actual receipt of all final payments in anticipation of which funds were credited to the Fund Custody Account.

  • Payment for Securities Payment for the Securities shall be received by the Company from the undersigned by wire transfer of immediately available funds or other means approved by the Company at or prior to the Closing, in the amount as set forth in Appendix A hereto. The Company shall deliver certificates representing the Securities to the undersigned at the Closing bearing an appropriate legend referring to the fact that the Securities were sold in reliance upon an exemption from registration under the Securities Act.

  • Adjustment for Tax Purposes The Company shall be entitled to make such reductions in the Conversion Price, in addition to those required by Section 10.06, as it in its discretion shall determine to be advisable in order that any stock dividends, subdivision of shares, distribution of rights to purchase stock or securities, or a distribution or securities convertible into or exchangeable for stock hereafter made by the Company to its stockholders shall not be taxable.