By Claimholder Clause Samples

The "By Claimholder" clause defines the rights or actions that a claimholder—typically a party entitled to make a claim under a contract or policy—may exercise. In practice, this clause might specify the procedures a claimholder must follow to submit a claim, the documentation required, or the timeframes within which claims must be made. Its core function is to clarify the responsibilities and entitlements of the claimholder, ensuring that the process for asserting claims is transparent and orderly, thereby reducing disputes and misunderstandings.
By Claimholder. In the event that (i) Company shall fail to pay any of its monetary obligations under this Agreement when due and shall not pay same within 14 days following notice thereof by Claimholder or (ii) Company shall fail to perform any of its nonmonetary obligations under this Agreement and shall not cure its failure within 30 days following notice thereof by Claimholder (in each case an "uncured default"), Claimholder may terminate this Agreement upon three days written notice to Company. Termination pursuant to this Section 6.A.(2) shall not excuse Company from any of its obligations which accrued prior to the date of termination, and Claimholder shall retain all of its rights in law or in equity with respect thereto.
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