Breach Penalty Clause Samples

POPULAR SAMPLE Copied 17 times
Breach Penalty. In the event of the Mrs Charity breaching any of the terms and/or conditions aforementioned in this clause 7, the Mrs Charity shall be liable to pay unto Mrs SA the amount as set out herein below as a penalty for such breach/breaches. The amount is linked to the inflation rate of South Africa which is based upon the consumer price index (CPI) and will as such increase with the effluxion of time.
View SourceView Similar (2)
Breach Penalty. When either party fails to fulfill any part or all of the obligations as stipulated in this contract, that is, in the event of breach of the contract, the said party shall pay a breach penalty of US$ 800 to 3000 or equivalent to 3 to 10 times Party B’s monthly salary in RMB. If both parties consider it necessary to determine an exact sum of the breach penalty, or to determine a breach penalty higher or lower than the above-mentioned amount, it shall be explicated in the appendix of this contract. When Party B claims to cancel this contract due to force majeure, it shall produce certifying documents issued by competent authorities; after the contract is cancelled with Party A’s consent, Party B shall bear the traveling expenses thus incurred; and when Party B fails to provide any valid reason to cancel this contract, it shall bear the traveling expenses thus incurred and pay the breach penalty to Party A as stipulated in this contract. When Party A claims to cancel this contract due to force majeure, and the contract is thus cancelled with Party B consent, it shall bear Party B’s traveling expenses thus incurred; and when Party A fails to provide any valid reason to cancel this contract, it shall bear the traveling expenses thus incurred to Party B and pay the breach penalty to Party B as stipulated in this contract.
View Source
Breach Penalty. In the event of termination of this Agreement pursuant to Section 11.2.6(iv) or Section 11.2.7(iv), the breaching Party shall be subject to a non-compensatory penalty in an amount corresponding to R$100,000,000.00 (one hundred million Reais) to be paid in favor of the other Party (“Breach Penalty”): 11.5.1 The Breach Penalty, whenever due, shall be paid within 20 (twenty) days from the delivery of the respective notice sent by the non-breaching Party to this effect. 11.5.2 Under no circumstances shall (i) the Experian’s Breach Penalty (as defined in the Voting Agreement) and the Breach Penalty be paid cumulatively, even if the Company may exercise the right of termination of the Merger Agreement on the basis of more than one of the events provided for in the Merger Agreement and/or in the Voting Agreement; and (ii) the Experian’s Breach Penalty (as defined in the Voting Agreement) be paid in case the Breach Penalty has been previously paid (and vice- versa), even if such penalties are due on the same grounds or ground of more than one of the hypotheses causing the penalty’s payment as provided for in this Section. For the avoidance of doubt, ▇▇▇▇▇▇ shall be exclusively responsible for the payment of the Experian’s Breach Penalty (as defined in the Voting Agreement) and the Breach Penalty and under no circumstances Experian shall be responsible for the payment of the Experian’s Breach Penalty (as defined in the Voting Agreement) and the Breach Penalty. 11.5.3 Under no circumstances shall (i) the Controlling Shareholders’ Breach Penalty (as defined in the Voting Agreement) and the Breach Penalty be paid cumulatively, even if Serasa may exercise the right of termination of this Agreement on the basis of more than one of the events provided for in this Agreement and/or in the Voting Agreement; and (ii) the Controlling Shareholders’ Breach Penalty (as defined in the Voting Agreement) be paid in case the Breach Penalty has been previously paid (and vice-versa), even if such penalties are due on the same grounds or ground of more than one of the hypotheses causing the penalty’s payment as provided for in this Section.
View Source
Breach Penalty. 6.1 THE LESSOR can terminate the contract and not reimburse the balance if THE LESSEE fails to fulfill the contact after the contract comes into force. 6.2 THE LESSOR shall not confiscate the balance if THE LESSEE fails to fulfill the contact after the contract comes into force.
View Source
Breach Penalty i. The Borrower agrees that should the Borrower fail to comply with any undertakings and agreements herein, they shall be subject to a breach of the value of the breached obligation. To avoid doubt, the breach penalization provided in this Clause 11.1 shall not apply in the case where the Borrower fails to pay in time the principal and/or interest resulting in their having to pay the default principal interest and the interest default interest prescribed in Clause 5. ii. Where the breach is at their fault, the Borrower agrees and undertakes to indemnify and keep indemnified the Bank and/or its Authorized Party against all liabilities (including those to third parties), losses, damages, claims for payment, claims for clearance payment, costs, charges, expenses, and litigations and proceedings (including legal costs and fees) whether civil, administrative or criminal, initiated by any party that involve the Bank and/or its Authorized Party in connection with the Facility Documents as stipulated by law or by a decision of a state authority. The Borrower’s liabilities under this Clause 11.1 shall survive the termination of this Agreement.
View Source
Breach Penalty. 1. If Seller breaches any provision regarding the Principal Construction Materials and Their Brands and Specifications, or the Deadlines for Commencement of Construction and Obtaining the Use Permit, herein, Buyer may rescind this Agreement. 2. If Seller breaches any provision regarding Seller's Liability for Warranty Against Defect herein, Buyer may give Seller written notice to make corrections within a deadline set by Buyer. If Seller fails to make corrections or is unable to make corrections, Buyer may duly claim for a reduction in price or rescission of the Agreement. 3. When Buyer rescinds the Agreement under paragraph 1 or 2, Seller shall refund to Buyer the amount of the real estate price already paid by Buyer, along with default interest if any is due, and furthermore shall at the same time pay a compensatory penalty of 15 percent of the total real estate price, provided that if that compensatory amount exceeds the amount of the price already paid, it shall be limited to the amount of the price already paid. 4. If Buyer breaches any provision relating to the terms and method of payment herein, Seller may confiscate an amount calculated as 15 percent of the total real estate price. However, if the amount to be confiscated exceeds the amount of the price already paid, it shall be limited to the amount of the price already paid, and the parties may rescind this Agreement. 5. If at the time of signing of this Agreement, Buyer has not yet paid the Signature Payment, and fails to pay it in full by Column G July 2011, Buyer shall additionally pay default interest calculated at the simple interest rate of two ten-thousandths per day of the portion overdue and unpaid, which interest it shall pay to Seller at the same time as it pays up the amount overdue. If there is any aforesaid failure to pay the Signature Payment in full, Seller also may proceed directly to notify the Buyer of rescission of this Agreement with no requirement to first provide notification of payment due, in which event default interest shall be calculated on the amount of the Signature Payment stipulated in this Agreement, and Seller may claim from Buyer payment of any default interest payable before rescission of this Agreement. 6. With the exception of the claims available under paragraphs 3 to 5 of this Article, neither Buyer nor Seller may otherwise make any claim for other damages.
View Source
Breach Penalty. (1) Failure by one Party to perform the obligation under this contract constitutes breach. The defaulting Party is liable to sustain the losses of the other party. (2) If Party B fails to deliver the contract equipments on the specified date or before the deferred deadline approved by both parties through negotiation, Party B shall pay 5% of the total contract price per day, which will be deducted from the project settlement accounts of Party B. If the delivery of contract equipments is deferred for more than one month, Party A has the right to revoke part or the whole contract. In addition, Party B will suffer the breach penalty and compensate Party A’s loss.
View Source
Breach Penalty. After the agreement is signed, except due to force majeure or term VII, either party cannot terminate the agreement within three years. If one party breaches it, it should pay $14,286 (RMB 100,000) to the other party as penalty. After three years, if either party wants to terminate the agreement, it should give the notification half a year in advance and compensate the other with $14,286 (RMB 100,000).
View Source

Related to Breach Penalty

  • REMEDY FOR BREACH OF WARRANTY 3.1. Subject to the exclusions and limitations set out above, if the Product fails to comply with the Limited Warranty in clauses 1.2 or 1.3, BYD will repair or replace the non-conforming Product or parts thereof within the warranty term at no charge (or provide a partial refund) on the following conditions. 3.2. Whether to repair or replace the Product will be determined by BYD in its sole discretion. 3.3. The Product or any of its parts to be replaced will have the same performance and reliability as the original Product. If the Production of the relevant type of the Product or any of its parts has been discontinued, withdrawn from the market, or are otherwise unavailable, BYD may replace the Product or parts with a similar Product or part (which may include previously used parts that are equivalent to new in performance and reliability). 3.4. If BYD does not repair or replace the defective Product or parts, BYD will refund You an amount of money calculated as follows: a) If the Product fails to comply with the Limited Performance Warranty in clause 1.3, BYD may calculate the refund using one of the two refund formulas below: i) Refund = maximum claim amount* x (warranted Minimum Throughput Energy - output energy of the Product recorded in the control module of the Product)/ warranted Minimum Throughput Energy; or ii) Refund = maximum claim amount* x (warranted remaining Useable Energy - remaining Useable Energy)/ warranted Usable Energy; and b) If the Product cannot be operated, BYD will calculate the refund as follows: Refund = (maximum claim amount*/120) x (120 - number of months since Warranty Start Date). *The maximum claim amount is the market value of the Product (or an equivalent Product) determined by BYD if it were purchased new with no defects. 3.5. The remedies as set out above are the sole and exclusive obligations of BYD to You under this Limited Warranty, and BYD will have no other liability to You if the Product fails to comply with the Limited Warranty.

  • Breach Waiver Any waiver by the Client of a breach of any section of this Agreement by the Contractor shall not operate or be construed as a waiver of any subsequent breach by the Contractor.

  • Redress The data importer shall inform data subjects in a transparent and easily accessible format, through individual notice or on its website, of a contact point authorised to handle complaints. It shall deal promptly with any complaints it receives from a data subject.

  • Breach of Warranty Any representation or warranty made at any time by any of the Loan Parties herein or by any of the Loan Parties in any other Loan Document, or in any certificate, other instrument or statement furnished pursuant to the provisions hereof or thereof, shall prove to have been false or misleading in any material respect as of the time it was made or furnished;

  • OUR LIABILITY FOR FAILURE TO STOP PAYMENT If You order Us to place a stop payment on one of Your pre-authorized payments 3 business days or more before the transfer is scheduled, and We do not do so, We will be liable for losses or damages, to the extent provided by law. TRANSACTION SLIPS. Except for mail-in transactions and certain small-value transactions, You can get a receipt at the time You make any transaction to or from Your Account through the use of Your Card. When an electronic fund transfer has been made during any given month, You will receive a monthly statement to reflect all electronic fund transfers to or from Your Account during that statement period. In any case, You will receive a statement at least quarterly. FEES. We may assess reasonable charges against Your Account for transactions performed at electronic terminals. If so, We will specify any charges for these or other types of electronic transactions, including automatic transfers, on an accompanying pricing document. We will explain the charges to You when You open Your Account. You will be provided with a fee schedule, and other specified information after Your Account is established. Additional fee schedules are available at any of Our office locations. When You use an ATM not owned by Us, You may be charged a fee by the ATM operator, or any network used, and You may be charged a fee for a balance inquiry even if You do not complete a fund transfer.