Commercial Managers’ default Clause Samples
The 'Commercial Managers’ default' clause defines the consequences and procedures that apply if a commercial manager involved in a contract fails to fulfill their obligations or breaches the agreement. Typically, this clause outlines the steps the other party may take in response to such a default, such as issuing notices, providing opportunities to remedy the breach, or pursuing termination or damages. Its core practical function is to allocate risk and provide a clear framework for addressing non-performance by commercial managers, thereby protecting the interests of the parties and ensuring accountability.
Commercial Managers’ default. If the Commercial Manager fails to meet its obligations under clauses 5 and 7 of this Agreement for any reason within its control, the Company may give notice to the Commercial Manager of the default, requesting also to remedy it as soon as practically possible. In the event that the Commercial Manager fails to remedy said default within a reasonable time to the satisfaction of the Company, the Company shall be entitled to terminate the Agreement in relation to the defaulting Commercial Manager with immediate effect by notice in writing.
Commercial Managers’ default. If the Commercial Manager fails to meet its obligations under Clauses 3, 4 and 5 of this Agreement for any reason within the control of the Commercial Manager, the Owner may give notice in writing to the Commercial Manager of the default, requiring it to remedy the default within 10 days. In the event that the Commercial Manager fails to remedy it within such 10 days to the reasonable satisfaction of the Owner, the Owner shall be entitled to terminate the Agreement with immediate effect by notice in writing.