Common use of Consequences of Breach Clause in Contracts

Consequences of Breach. The grants of Retention Units hereunder shall be conditionally granted subject to the Limited Partner's compliance with the covenants set forth in Section 2.13(b) of the Limited Partnership Agreement. Without limitation or contradiction of the foregoing, and in addition to the applicability of Section 2.13(g) of the Limited Partnership Agreement as described in Section 3(a) above, the Limited Partner agrees that it would be impossible to compute the actual damages resulting from a breach of any such covenants, and that the amounts set forth in this Section 3(b)(ii) are reasonable and do not operate as a penalty, but are a genuine pre-estimate of the anticipated loss that the Partnership and other members of the Och-Ziff Group would suffer from any such covenants. In the event the Limited Partner breaches any such covenants, then the Limited Partner shall have failed to satisfy the condition subsequent to the grants of Retention Units and the Limited Partner agrees that:

Appears in 4 contracts

Samples: Partner Agreement, Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC)

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Consequences of Breach. The grants of Retention Incentive Units hereunder shall be conditionally granted subject to the Limited Partner's ’s compliance with the covenants set forth in Section 2.13(b) of the Limited Partnership Agreement. Without limitation or contradiction of the foregoing, and in addition to the applicability of Section 2.13(g) of the Limited Partnership Agreement as described in Section 3(a) aboveAgreement, the Limited Partner agrees that it would be impossible to compute the actual damages resulting from a breach of any such covenants, and that the amounts set forth in this Section 3(b)(ii) are reasonable and do not operate as a penalty, but are a genuine pre-estimate of the anticipated loss that the Partnership and other members of the Och-Ziff Group would suffer from breach of any such covenants. In the event the Limited Partner breaches any such covenants, then the Limited Partner shall have failed to satisfy the condition subsequent to the grants of Retention Incentive Units and the Limited Partner agrees that:

Appears in 3 contracts

Samples: Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC)

Consequences of Breach. The grants of Retention Units hereunder shall be conditionally granted subject to the Limited Partner's ’s compliance with the covenants set forth in Section 2.13(b) of the Limited Partnership Agreement. Without limitation or contradiction of the foregoing, and in addition to the applicability of Section 2.13(g) of the Limited Partnership Agreement as described in Section 3(a) above, the Limited Partner agrees that it would be impossible to compute the actual damages resulting from a breach of any such covenants, and that the amounts set forth in this Section 3(b)(ii) are reasonable and do not operate as a penalty, but are a genuine pre-estimate of the anticipated loss that the Partnership and other members of the Och-Ziff Group would suffer from a breach of any such covenants. In the event the Limited Partner breaches any such covenants, then the Limited Partner shall have failed to satisfy the condition subsequent to the grants of Retention Units and the Limited Partner agrees that:

Appears in 3 contracts

Samples: Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC)

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Consequences of Breach. The grants of Retention Incentive Units hereunder shall be conditionally granted subject to the Limited Partner's compliance with the covenants set forth in Section 2.13(b) of the Limited Partnership Agreement. Without limitation or contradiction of the foregoing, and in addition to the applicability of Section 2.13(g) of the Limited Partnership Agreement as described in Section 3(a) aboveAgreement, the Limited Partner agrees that it would be impossible to compute the actual damages resulting from a breach of any such covenants, and that the amounts set forth in this Section 3(b)(ii) are reasonable and do not operate as a penalty, but are a genuine pre-estimate of the anticipated loss that the Partnership and other members of the Och-Ziff Group would suffer from breach of any such covenants. In the event the Limited Partner breaches any such covenants, then the Limited Partner shall have failed to satisfy the condition subsequent to the grants of Retention Incentive Units and the Limited Partner agrees that:

Appears in 3 contracts

Samples: Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC), Partner Agreement (Och-Ziff Capital Management Group LLC)

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