Common use of Answer and Default Clause in Contracts

Answer and Default. An answer and any counterclaims to the Arbitration Notice shall be required to be delivered to the party initiating the Arbitration within twenty (20) calendar days after the Arbitration Commencement Date. If an answer is not delivered by the required deadline, the arbitrator must provide written notice to the defaulting party stating that the arbitrator will enter a default award against such party if such party does not file an answer within five (5) calendar days of receipt of such notice. If an answer is not filed within the five (5) day extension period, the arbitrator must render a default award, consistent with the relief requested in the Arbitration Notice, against a party that fails to submit an answer within such time period.

Appears in 206 contracts

Samples: Securities Purchase Agreement (Lobo Ev Technologies LTD), Equity Purchase Agreement (Clean Energy Technologies, Inc.), Securities Purchase Agreement (iCoreConnect Inc.)

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Answer and Default. An answer and any counterclaims to the Arbitration Notice shall be required to be delivered to the party initiating the Arbitration within twenty (20) calendar days after the Arbitration Commencement Date. If an answer is not delivered by the required deadline, the arbitrator must provide written notice to the defaulting party stating that the arbitrator will enter a default award against such party if such party does not file an answer within five (5) calendar days of receipt of such notice. If an answer is not filed within the five (5) day extension period, the arbitrator must render a default award, consistent with the relief requested in the Arbitration Notice, against a party that fails to submit an answer within such time period.. ​

Appears in 2 contracts

Samples: Securities Purchase Agreement (Kaixin Auto Holdings), Commercial Loan Agreement (Northwest Biotherapeutics Inc)

Answer and Default. An answer and any counterclaims to the Arbitration Notice shall be required to be delivered to the party initiating the Arbitration within twenty (20) calendar days after the Arbitration Commencement Date. If an answer is not delivered by the required deadline, the arbitrator arbitrator(s) must provide written notice to the defaulting party stating that the arbitrator arbitrator(s) will enter a default award against such party if such party does not file an answer within five ten (510) calendar days of receipt of such notice. If an answer is not filed within the five ten (510) day extension period, the arbitrator must render a default award, consistent with the relief requested in the Arbitration Notice, against a party that fails to submit an answer within such time period.

Appears in 1 contract

Samples: Securities Purchase Agreement (INVO Bioscience, Inc.)

Answer and Default. An answer and any counterclaims to the Arbitration Notice shall be required to be delivered to the party initiating the Arbitration within twenty (20) calendar days after the Arbitration Commencement Date. If an answer is not delivered by the required deadline, the arbitrator must provide written notice to the defaulting party stating that the arbitrator will enter a default award against such party if such party does not file an answer within five (5) calendar days of receipt of such notice. If an answer is not filed within the five (5) day extension period, the arbitrator must render a default award, consistent with the relief requested in the Arbitration Notice, against a party that fails to submit an answer within such time period.. ​ ​ Arbitration Provisions, Page 2

Appears in 1 contract

Samples: Note Purchase Agreement (Northwest Biotherapeutics Inc)

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Answer and Default. An answer and any counterclaims to the Arbitration Notice shall be required to be delivered to the party Party initiating the Arbitration within twenty (20) calendar days after the Arbitration Commencement Date. If an answer is not delivered by the required deadline, the arbitrator must provide written notice to the defaulting party Party stating that the arbitrator will enter a default award against such party Party if such party Party does not file an answer within five (5) calendar days of receipt of such notice. If an answer is not filed within the five (5) day extension period, the arbitrator must render a default award, consistent with the relief requested in the Arbitration Notice, against a party Party that fails to submit an answer within such time period.

Appears in 1 contract

Samples: Securities Purchase Agreement (Verb Technology Company, Inc.)

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