Common use of Assessment of the Bond Clause in Contracts

Assessment of the Bond. The performance bond may be assessed by the Licensor for any failure by Licensee to pay Licensor an amount owed under this Agreement, including, but not limited to: (a) Reimbursement of costs borne by the Licensor to correct violations of the Agreement not corrected by Licensee, after Licensor provides notice and a reasonable opportunity to cure such violations. This shall include, without limitation, removal of Equipment. (b) Providing monetary remedies or satisfying damages assessed against Licensee due to a material breach of this Agreement.

Assessment of the Bond. The performance bond may be assessed by the Licensor for any failure by Licensee to pay Licensor an amount owed under this AgreementAgreement beyond applicable notice and cure periods, including, but not limited to: (ai) Reimbursement of costs borne by the Licensor to correct violations of the Agreement not corrected by Licensee, after Licensor provides notice and a reasonable opportunity to cure such violations. This shall include, without limitation, removal of Equipment. (bii) Providing monetary remedies or satisfying damages assessed against Licensee due to a material breach of this Agreement.

Assessment of the Bond. The performance bond may be assessed by the Licensor for any failure by Licensee to pay Licensor an amount owed under this AgreementAgreement beyond applicable notice and cure periods, including, but not limited to: (a) Reimbursement of costs borne by the Licensor to correct violations of the Agreement not corrected by Licensee, after Licensor provides notice and a reasonable opportunity to cure such violations. This shall include, without limitation, removal of Equipment. (b) Providing monetary remedies or satisfying damages assessed against Licensee due to a material breach of this Agreement.