Consequences of non-compliance If a beneficiary breaches any of its obligations under this Article, the grant may be reduced (see Article 43). Such breaches may also lead to any of the other measures described in Chapter 6.
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 Default Upon the occurrence of any Event of Default, as defined in the Revenue Sharing Agreement:
Consequences for Non-Compliance If the Department has reason to believe that the District is not in substantial compliance with one or more of the statutory or regulatory requirements applicable to the District, the Department shall notify the District that it has ninety (90) days after the date of notice to come into compliance. If, at the end of the ninety-day period, the Department finds the District is not substantially in compliance with the applicable statutory or regulatory requirements, meaning that the District has not yet taken the necessary measures to ensure that it meets the applicable legal requirements as soon as practicable, the District may be subject to the interventions specified in sections 00-00-000 through 00-00-000, C.R.S. If the District has failed to comply with the provisions of article 44 of title 22 or article 45 of title 22, the District does not remedy the noncompliance within ninety (90) days and loss of accreditation is required to protect the interests of the students and parents of students enrolled in the District public schools, the Department may recommend to the State Board that the State Board remove the District’s accreditation. If the Department determines that the District has substantially failed to meet requirements specified in this accreditation contract and that immediate action is required to protect the interests of the students and parents of students enrolled in the District’s public schools, the Department may lower the District’s accreditation category.
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:
Financial Consequences of Non-Performance If the corrective action plan is unacceptable to the Department or Customer, or fails to remedy the performance deficiencies, the Contractor will be assessed a non-performance retainage equivalent to 10% of the total invoice amount or as specified in the Contract. The retainage will be applied to the invoice for the then-current billing period. The retainage will be withheld until the Contractor resolves the deficiency. If the deficiency is subsequently resolved, the Contractor may invoice the Customer for the retained amount during the next billing period. If the Contractor is unable to resolve the deficiency, the funds retained will be forfeited.
Consequences of Force Majeure If the Affected Party has taken all necessary steps towards mitigating the effect of a Force Majeure event, then:
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.
INCOME TAX CONSEQUENCES OF ESTABLISHING AN XXX X. Traditional IRA Deductibility – If you are eligible to contribute to your Traditional IRA, the amount of the contribution for which you may take a tax deduction will depend upon whether you (or, in some cases, your spouse) are an active participant in an employer-sponsored retirement plan. If you (and your spouse if married) are not an active participant, your entire Traditional IRA contribution will be deductible. If you are an active participant (or are married to an active participant), the deductibility of your contribution will depend on your MAGI and your tax filing status for the tax year for which the contribution was made. MAGI is determined on your income tax return using your adjusted gross income but disregarding any deductible Traditional IRA contribution and certain other deductions and exclusions. Definition of Active Participant – Generally, you will be an active participant if you are covered by one or more of the following employer-maintained retirement plans.
Consequence of Lapse If required insurance lapses during the Term, the JBE is not required to process invoices after such lapse until Contractor provides evidence of reinstatement that is effective as of the lapse date.
