Consequences of the Defaults Sample Clauses

Consequences of the Defaults. (a) Upon the occurrence of any one or more of Events by the Allottee/s of Default under this Agreement including, but not limited to those specified above, the Promoter may at its sole discretion, cancel the Allotment and this Agreement by issuing a notice to the Allottee/s highlighting the Event(s) of Default and calling upon the Allottee/s to rectify such default (“Cancellation Notice”). If the default mentioned in the Cancellation Notice is not rectified by the Allottee/s within the period mentioned in such Cancellation Notice, the Promoter shall be entitled to cancel the Allotment and this Agreement without any further notice or intimation to the Allottee/s and the Promoter shall have the right to retain/recover the amount as stated in this Agreement towards the cancellation.
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Related to Consequences of the Defaults

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

  • Default and Consequences of Default 16.1 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 Seller’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment.

  • 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:

  • 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 Termination Upon the termination of this Agreement:

  • 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”):

  • EVENTS OF DEFAULTS AND CONSEQUENCES 9.1 Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events:

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