Breach of Payment Obligation. If the Company fails (other than pursuant to Section 18) to pay any amount due to Executive (or Executive’s estate) pursuant to this Section 4 as a result of Executive’s termination of employment within the fifteen (15) day period following written notice by Executive (it being understood and agreed that such notice may not be given until any such material payment has not been paid for at least 15 days following its scheduled payment date), the restrictions imposed by Section 7(a)(i) and (ii) shall immediately terminate.
Breach of Payment Obligation. If either party commits a material breach of its payment obligations under this Agreement and fails to remedy the breach within 20 Business Days after being required to do so in writing, the other party may terminate this Agreement immediately by notice to the party in default.
Breach of Payment Obligation. 9.1 If the Purchaser fails to cooperate to the transfer of the Property or is in default of fulfilment of his payment obligation referred to in Clause 5.1 or is in default of fulfilment of his obligation to provide security as set out in Clause 21, and – after the Purchaser has been given notice of default – the Purchaser's duty to cooperate with the transfer of the Property and/or his payment obligation and/or his obligation to provide security is/are not fulfilled within a period of 10 Business Days, the Seller may inform the Purchaser either that the Agreement has been dissolved, or that performance is or will be claimed. If performance is claimed pursuant to Clause 9.2, the Seller is entitled to reconsider its choice and dissolve this Agreement as long as the Purchaser is still in default under its obligation to cooperate to the transfer of the Property or is in default of fulfilment of his payment obligation referred to in Clause 5.1 or is in default of fulfilment of his obligation to provide security as set out in Clause 21. EXECUTION COPY
Breach of Payment Obligation. Should any of the parties fail to pay the considerations payable to the other party for Local Interconnection Services, after the compensation was made in accordance to the terms of the Compensatory Agreement, for amounts higher to the equivalent in National Currency to USA$1'000,000.00 (one million 00/100 dollars, currency of the United States of America), including past due interests, for more than thirty calendar days as of payment date of the corresponding debt, and after having unsuccessfully claim the payment of the corresponding bonds, or after having made such bond effective in an insufficient manner. In the understanding that failure to pay Objected Invoices in resolution process shall not be considered as a payment obligation failure, until the procedure established in the Fourth Article of this Agreement is fully exhausted. As of the date when the termination of this Agreement is enforced under the terms provided herein, the parties agree and acknowledge that the Ministry and the Commission may adopt the appropriate measures to protect the interest of the general public, and the interests of the Users and Subscribers of the parties, by temporarily designating a company different to the breaching party, to provide the services provided by the breaching party under the terms of this Agreement, until the corresponding bidding process is carried out. The above without prejudice to the rights that Telmex or Axtel may lawfully have.
Breach of Payment Obligation. Any breach of Customer’s payment obligations or unauthorized use of the CLOUDGAVEL Technology or Service will be deemed a material breach of this Agreement. If Customer breaches or otherwise fails to comply with this Agreement, and such breach or noncompliance remains uncured in excess of 30 days following Customer’s receipt of CLOUDGAVEL’s notification thereof, then CLOUDGAVEL may cancel Customer’s password, account and use of the Service upon written notice to Customer of any such material breach of this Agreement. Notwithstanding the foregoing, CLOUDGAVEL may terminate this Agreement and Customer’s access and use of the Service immediately upon written notice to Customer in the event of (i) Customer’s or its Authorized Users’ breach of Section 2, Section 3, Section 5 or Section 12 or (ii) Customer or any of its affiliates commences a voluntary (or is a debtor in an involuntary) proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law or seeking the appointment of a trustee, receiver, liquidator, custodian or other similar official of it or any substantial part of its property.
Breach of Payment Obligation. If either party commits a material breach of its payment obligations under this Contract and fails to remedy that breach within 15 days after being required to do so in writing, the other party may terminate this Contract immediately by notice to the party in default. For the avoidance of doubt, it is not a material breach of the payment obligations under this Contract if a party fails to pay any part (including all) of a claimed amount that the party, for bona fide reasons, disputes that the claimant is entitled to and has notified the claimant of this fact in writing prior to the expiry of the 15 days referred to in the paragraph above. In such circumstances, a party will only commit a material breach of its payment obligations under this Contract and will have failed to remedy that breach if the party fails to pay the claimant that part of the genuinely disputed amount that is ultimately determined or agreed pursuant to the dispute resolution procedures of clause 29 of this Contract as payable to the claimant within 15 days of the final determination or agreement. If a party commits a breach of its payment obligations under this contract, it must pay interest to the other party at the rate of 8% per annum calculated on a daily basis from the date payment is due until the date of payment. For the avoidance of doubt, this obligation also applies where a payment dispute is resolved pursuant to Clause 29.
Breach of Payment Obligation. If the Initial Payment, any Installment Payment, or any undisputed Additional Payment is not made in full by Verizon to TiVo on the due date, and has not been paid in full by Verizon within thirty (30) days after written notice of such breach from TiVo, then the entire sum of any and all unpaid payments, and any portion thereof, as set forth in Section 4.1 ($250,400,000.00, less the sum of any Installment Payments made by Verizon to TiVo and any credits received to date by Verizon) that are due or will become due shall all be deemed due and owing upon written notice from TiVo to Verizon and immediately paid in full by Verizon to TiVo following receipt of such written notice. Past due amounts shall be subject to a monthly service charge of [*] per month of the unpaid balance or the maximum rate allowable by law, whichever is less. In addition to all other sums payable hereunder, other than with respect to a good faith dispute as to any Additional Payments due, Verizon shall pay all reasonable out-of-pocket expenses incurred by TiVo, including fees and disbursements of counsel, in connection with collection and other enforcement proceeding resulting therefrom. The foregoing obligation in no way limits any other rights or remedies available to TiVo or Verizon.
