Consequences of defaulting on payment of contract Sample Clauses

Consequences of defaulting on payment of contract. In the event of delayed payment of fees under Section 5.1 or Section 5.2, Norid may send written notice of blocking the access to the Norid platform. Notice may be included in a reminder. If the Registrar has not paid the fees in their entirety by the expiry of the deadline in the notice, Norid may without further notice block the Registrar’s ability to order and extend Domain Name Subscriptions without liability for the Registrar’s costs. In order to have access restored, the Registrar must pay Norid’s claim in its entirety and an administrative fee of NOK 5,000. In the event of late payment of fees under Section 5.1 or Section 5.2, Norid may also initiate non- judicial and possibly judicial recovery, pursuant to Section 3a of the Norwegian Act relating to Interest on Overdue Payments, etc., the Norwegian Debt Collection Act and the Norwegian Enforcement Act.
Sample 1
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Related to Consequences of defaulting on payment of contract

  • Consequences of Default Upon the occurrence of any Event of Default, as defined in the Revenue Sharing Agreement:

  • Consequences of an Event of Default (a) If an Event of Default specified in subsections (a) through (l), (o), (p) or (q) of Section 7.01 shall occur and, be continuing or shall exist, then, in addition to all other rights and remedies which the Administrative Agent or any Lender may have hereunder or under any other Loan Document, at law, in equity or otherwise, the Lenders shall be under no further obligation to make Loans hereunder, and the Administrative Agent may, and, upon the written request of the Required Lenders shall, by notice to the Borrower, from time to time do any or all of the following:

  • Default and Consequences of Default 18.1 Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and a half percent (2.5%) per calendar month (and at the Supplier’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment.

  • Termination of Default An Event of Default shall be deemed to have been terminated upon the earliest to occur of:

  • Termination due to Event of Default (a) Termination due to Parties Event of Default

  • Developer Event of Default Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer:

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • Default Events (a) Any material breach of the Funding Agreement by the Recipient, including those set out below, will be an event of default (“Default Event”):

  • Consequences of Breach Without prejudice to any rights that may be available to the Principal/Owner under law or the Contract or its established policies and laid down procedures, the Principal/Owner shall have the following rights in case of breach of this Integrity Pact by the Tenderer(s)/Contractor(s) and the Tenderer/ Contractor accepts and undertakes to respect and uphold the Principal/Owner’s absolute right:

  • Consequences of Events of Default and Corrective Action If an Event of Default occurs, the Province may, at any time, take one or more of the following actions:

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