Assumption Violation Sample Clauses

An Assumption Violation clause defines the consequences and procedures that apply if a key assumption underlying an agreement proves to be false or is not met. In practice, this clause typically outlines the steps parties must take if an assumption—such as the availability of a resource, regulatory approval, or the accuracy of provided information—turns out to be incorrect. Its core function is to allocate risk and provide a clear process for addressing situations where foundational expectations are not fulfilled, thereby reducing uncertainty and potential disputes.
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Assumption Violation. Assumption Violation(s) will only entitle Contractor to (a) reduce the Guaranteed Performance Commitment to the extent such Guaranteed Performance Commitment is directly and proven affected by the Assumption Violation; and/or (b) to charge additional services and additional Parts as Extra-Work as per Section 2.7. The Parties acknowledge and agree that the Assumption Violation of the Assumption set forth by item (iii) of Exhibit J will have as its sole consequences the reducing of the Guaranteed Performance Commitment as per the relevant spreadsheet in Exhibit G and that the Parties will negotiate in good faith a new cash flow for this Agreement. For avoidance of doubt, up to the one hundred and twenty-thousand FFH indicated as an Assumption in item (iii) of Exhibit J, the Pre-Mobilization Fee; the Mobilization Fee; the Additional Mobilization Fee; the BOP Equipment ISP Fee; the Monthly Fixed Fee; the unitary value of FFH applicable for calculating the Variable Monthly Fee; the Planned Maintenance Event Fee and the unitary prices referred in Exhibits Q will remain unchanged.
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Related to Assumption Violation

  • Non-Violation The execution and delivery of this Amendment and the performance and observance by it of the terms and provisions hereof (a) do not violate or contravene its Organization Documents or any applicable Laws or (b) conflict with or result in a breach or contravention of any provision of, or constitute a default under, any other agreement, instrument or document binding upon or enforceable against it.

  • Penalty for Violation The Contractor and any Subcontractor will pay to the State a penalty of sixty dollars ($60) for each worker employed for each calendar day, or portion thereof, that the worker is paid less than the wage rates stipulated in the Prevailing Wage Schedule.

  • Notice of Violation The Concessioner shall give the Director in writing immediate notice of any written threatened or actual notice of violation from other regulatory agencies of any Applicable Law arising out of the activities of the Concessioner, its agents or employees.

  • Authorization; No Violation Guarantor is authorized to execute, deliver and perform under this Guaranty, which is a valid, binding, and enforceable obligation of Guarantor in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting creditor's rights generally. The execution, delivery and performance of this Guaranty are not in violation of any applicable law, regulation or ordinance, or any order or ruling of any court or governmental agency applicable to the Guarantor. The Guaranty does not conflict with, or constitute a breach or default under, any agreement to which Guarantor is a party.

  • No Default or Violation Neither the Company nor any Subsidiary (i) is in default under or in violation of (and no event has occurred which has not been waived which, with notice or lapse of time or both, would result in a default by the Company or any Subsidiary under), nor has the Company or any Subsidiary received notice of a claim that it is in default under or that it is in violation of, any indenture, loan or credit agreement or any other agreement or instrument to which it is a party or by which it or any of its properties is bound, (ii) is in violation of any order of any court, arbitrator or governmental body, or (iii) is in violation of any statute, rule or regulation of any governmental authority, in each case of clauses (i), (ii) or (iii) above, except as could not individually or in the aggregate, have or result in a Material Adverse Effect.