Supplier Default Clause Samples

Supplier Default. The obligations to purchase Product under this Agreement may be terminated by Buyer if any one or more of the following events occur (each a "Supplier Default"): (a) If Supplier files a petition for adjudication as a bankrupt, for reorganization or for an arrangement under any bankruptcy or insolvency law, or if any involuntary petition under such law is filed against Supplier and is not dismissed within thirty (30) days thereafter; then, so long as any such event is continuing, Buyer may by notice in writing to Supplier terminate its obligations to purchase all or a portion of Product forthwith; (b) If Supplier makes an assignment of all or substantially all of its assets for the benefit of creditors, or if Supplier's interest under this Agreement shall be taken upon execution; (c) If Supplier fails to perform any material covenant or material obligation including, but not limited to, the payment of any amounts due to Buyer; provided, however, that no termination shall be made hereunder unless and until Buyer gives Supplier notice of such failure to perform and Supplier has not cured such failure within thirty (30) days after its receipt of such notice, or ten (10) days in the case of failure to make payment of any amounts due to Buyer; or (d) There is a change of ownership or control of Supplier or Supplier transfers its interest in the Plant to a third party (in either case, other than to an Affiliate of Supplier), or if Bunge Corporation terminates its guaranty provided below; provided, however, that Buyer's exclusive remedy upon the occurrence of such an event in the absence of Buyer's prior written consent to any such event (and without limiting Buyer's remedies in the event of any other Supplier Default) shall be limited to the right to terminate this Agreement.

Supplier Default. If the services cannot be carried out due to any default of the Supplier then the Hirer shall incur no charge for the specific item of Plant the subject of such default.

Supplier Default. If the Supplier: (a) breaches any obligation or undertaking under the Contract and fails to remedy it within 7 days of the Company’s written request to do so; or (b) becomes insolvent, then the Company may, without prejudice to any other rights it may have, including to claim damages, terminate the Contract with immediate effect.

Supplier Default. Should the Buyer consider that the Seller is not executing the Order in accordance with or as stipulated in the Contract; or the Seller has not made sufficient progress to ensure delivery of the Goods by the time stated in the Order, or that such time has already expired; or the Seller has refused to carry out the reasonable instruction of the Purchaser for the execution of Order or is otherwise in breach of its obligations under the Contract. The Buyer may give notice to the Seller specifying the default and requiring the Seller to remedy it within seven days or such longer period as the Buyer may specify. If the Seller fails so to remedy its default then the Buyer may terminate the Order in whole or in part by notice to the Seller with immediate effect. Thereupon the Buyer may itself complete performance or secure such performance by others of that part of the Order which the Seller has failed to perform using for that purpose (making a fair and proper allowance therefor in any payment subsequently made to the Seller) any materials, plant and equipment on the Buyers premises belonging to the Seller. The Buyer shall not be liable to make any further payment to the Seller until the Order has been completed in accordance with the requirements of the Contract, and shall be entitled to deduct from any amount due to the Seller the costs thereof incurred by the Buyer if the total cost to the Company exceeds the amount (if any) due to the Seller, the difference shall be recoverable by the Buyer from the Seller. The Buyer shall not be liable for any loss whatsoever suffered by the Seller as a result of the Buyers action.

Supplier Default. 34.1.1 If the Supplier: 34.1.1.1 breaches any material provision of this Agreement and fails to remedy the breach within fourteen (14) days of written notice to do so, or such longer time period as agreed to by the Company; 34.1.1.2 takes steps to place itself, or is placed, in liquidation, whether voluntary or compulsory, or in judicial management, in either case whether provisionally or finally; 34.1.1.3 takes steps to deregister itself or is deregistered; 34.1.1.4 commits an act of insolvency as defined in the applicable Laws pertaining to insolvency as at the date of this Agreement, or, being a corporate body, commits an act which would be such an act of insolvency if committed by a natural Person; 34.1.1.5 undergoes a change of control without the prior written consent of the Company; 34.1.1.6 is unable to meet its day-to-day liabilities and/or its liabilities exceed its assets; 34.1.1.7 falsifies any documents or records or commits any act of fraud or dishonesty in respect of its dealings with the Company or matters arising from the terms of this Agreement; 34.1.1.8 cedes, delegates, assigns or transfers (or purports to do so) its rights, benefits or obligations under this Agreement without the prior written consent of the Company; 34.1.1.9 sells the whole or any material part of its business, assets and/or its facilities to any third party without the prior written consent of the Company; and/or 34.1.1.10 commits, in the opinion of the Company Representative, a breach of any of the provisions of this Agreement, the Supplier shall be in default. 34.1.2 If the Supplier is in default, the Company will be entitled, in addition to all other remedies in terms of this Agreement or at law or equity: 34.1.2.1 to demand specific performance of this Agreement and to take such action as may be necessary in order to implement and fulfil its rights herein and to recover any damage which it may suffer as a result of the Supplier’s default; or 34.1.2.2 to terminate forthwith this Agreement and claim such damages as the Company may have suffered as a result of the Supplier’s default. 34.1.3 Further, the Company is entitled (but not obliged) to request copies of all subcontracts and other agreements between the Supplier and third parties which relate to the Products. The Company is also entitled to direct the Supplier to: 34.1.3.1 procure, the assignment to the Company, or to another Person or entity designated by the Company, of the Supplier’s rights and obligations...

Supplier Default. If the Supplier is in breach of any of its obligations under this Contract (Supplier Default), then the Company may give notice to the Supplier identifying the breach and requesting the Supplier to remedy such breach within the period specified in the notice (such period to be a minimum of 10 Business Days).

Supplier Default. 9 9.1.1 Performance Failures and Service Default.....................................9 9.1.2

Supplier Default. Upon the occurrence of an event of default under this Agreement on the part of [Supplier], Distributor may (a) terminate this Agreement upon thirty (30) days prior written notice to [Supplier] and (b) exercise any or all other rights and remedies provided for under applicable law and this Agreement.

Supplier Default. If (other than as a result of a breach by the Authority of any Applicable Law and/or any of its obligations under this Agreement) the Supplier is in breach of its obligations under this Agreement which results in a Transfer Failure then: the Supplier shall use its reasonable endeavours to remedy the Transfer Failure within 30 Working Days of the relevant Transfer Failure occurring (and the Authority shall provide the Supplier all reasonable assistance requested of it in relation thereto); and where the Transfer Failure is not remedied (in whole or in part) within such 30 Working Days period (other than as a result of a breach by the Authority of any Applicable Law and/or any of its obligations under this Agreement), the Supplier shall either: compensate the Authority by paying to the Authority for each Benefit the subject of the Transfer Failure and which has not been Transferred within the above 30 Working Days the amount that would have been payable to the Authority under this Agreement for such Benefit had it been Transferred in accordance with this Agreement; or (subject to the Generator having any necessary trading framework agreement in place and without placing any obligation on the Generator or the Authority to negotiate or sign any such agreement or provide any credit support to any third party), if the Generator is able within the following sixty (60) Working Days to sell the relevant Benefit to a third party, pay the Authority the difference between the price obtained from the third party for the Benefit and the amount that would have been payable by the Supplier to the Authority under this Agreement for such Benefit had it been Transferred in accordance with this Agreement. If the Supplier makes the required payment to the Authority in respect of any Benefits in accordance with Paragraph 13.2, then the Generator shall in respect of the relevant Benefits continue to comply with its obligations under Paragraph 12 so as to enable the Benefits (if received by the Authority) to be Transferred to the Supplier and no payment shall be due in respect of such Benefits. The Party that has not caused the Transfer Failure shall take all reasonably practicable steps to mitigate its loss arising from the failure of the other Party to submit or accept (as the case may be) a Transfer Request.