D efault. In the event any equipment or service furnished by CONTRACTOR in the performance of AGREEMENT should fail to conform to the specifications therein within one (1) calendar year from acceptance of the equipment or service, or any performance period specifically specified within the specifications or AGREEMENT, whichever is greater, COUNTY may reject same, and it shall become the duty of CONTRACTOR to reclaim and remove the items without expense to COUNTY and to immediately replace all such rejected equipment or service with others conforming to such specifications, provided that should CONTRACTOR fail, neglect or refuse to do so within one hundred and twenty (120) calendar days, COUNTY shall have the right to purchase on the open market a corresponding quantity of any such equipment or service and to deduct from any monies due or that may thereafter become due to CONTRACTOR the difference between the price specified in AGREEMENT and the actual cost to the COUNTY. In the event CONTRACTOR shall fail to make prompt delivery as specified of any equipment or service, the same conditions as to the rights of COUNTY to purchase on the open market and to reimbursement set forth above shall apply, except as otherwise provided in AGREEMENT. r damage sustained by COUNTY in procuring any equipment or service which CONTRACTOR agreed to supply under AGREEMENT but, by reason of the default or breach by CONTRACTOR, failed to supply, shall he borne and paid for by CONTRACTOR. Default shall include failure to carry out any of the requirements of AGREEMENT, including, but not limited to not providing enough properly skilled workers or proper materials, persistently disregarding laws and or ordinances, not proceeding with the work as agreed to herein, or otherwise substantially violating any provision of AGREEMENT."
D efault. If the Licensee fails to pay when due any License Fee or portion thereof, or any finance charge thereon, under this License Agreement, or otherwise defaults in the performance of any of the Licensee’s duties and obligations under this License Agreement, then the PSL Agent may, at its option, after providing written notice to the Licensee and a ten (10) day opportunity to cure (if such default is curable):
(a) withhold distribution of tickets to the Licensee, authorize TeamCo or other Event Organizers to withhold distribution of tickets to the Licensee, or otherwise deny Licensee access to the Stadium for Team Games, and, if applicable, Stadium Events until the default is cured (if such default is curable); and/or
(b) terminate all rights of the Licensee under this License Agreement. Notwithstanding the foregoing, the Licensee acknowledges and agrees that the failure to maintain proper decorum and abide by the policies, rules, and regulations that may be adopted from time to time by the NFL or any of the Stadium Parties are non-curable defaults if so elected by StadCo or TeamCo, and the PSL Agent’s notice in such event is for the sole purpose of notifying the Licensee of such breach and termination. The foregoing remedies are not to the exclusion of any other right or remedy of the Authority or the PSL Agent set forth in this License Agreement or otherwise available at law or in equity. The Licensee is responsible for all attorneys’ fees and costs incurred by the Authority or the PSL Agent in the enforcement of this License Agreement, whether or not litigation is actually commenced. No waiver or release by the Authority or the PSL Agent of any default or breach by the Licensee of its obligations under this License Agreement will be construed to be a waiver or release of any other subsequent default or breach by the Licensee under this License Agreement, and no failure or delay by the PSL Agent (on behalf of the Authority) in the exercise of any remedy provided for in this License Agreement will be construed a forfeiture or waiver thereof or of any other right or remedy available to the Authority or the PSL Agent.
D efault. In the event LESSEE shall file or have filed against it a petition under the Bankruptcy Act, or shall make as assignment for the benefit of creditors, become insolvent, or fail to fully and faithfully comply with the terms and provisions hereof, then in such event, LESSEE shall be deemed to be in default of this AGREEMENT, and in the event LESSEE shall fail to cure such default within thirty (30) days after written notice shall have been given to them by IFRA in a manner provided here in below, IFRA may elect to terminate this AGREEMENT or alternately or in addition thereto, IFRA may pursue any other remedies at law or in equity to enforce the performance of this AGREEMENT or to recover damages for the breach thereof. Such notice shall generally set forth the nature of the default claimed by LESSOR.
D efault. In the event Owner fails to comply with any of the provisions of this Agreement within sixty (60) business days after Owner’s receipt of written notice thereof from County, County shall have the following remedies in addition to County’s other rights and remedies, at law or in equity:
(a) to file this instrument in the Real Property Records of Fort Bend County as a lien and/or encumbrance against Owner and/or Owner’s portion of Olympia Falls; and/or
(b) to refuse to accept any portion of any public improvements within Owner’s portion of Olympia Falls and/or associated with the development of Owner’s portion of Olympia Falls; and/or
(c) to seek specific enforcement of this Agreement. In the event of County’s default under this Agreement, Owner(s) will be entitled to seek any remedy available to them at law or in equity.
D efault. If Purchaser breaches any term or condition hereof, Seller may, in addition to exercising any other right it has hereunder or under State law, accelerate all sums due to Seller under the terms hereof, and/or terminate the contract and discontinue Seller’s performance hereunder, seeking recovery of the damages it suffers as the result of such breach, both direct and consequential. If Seller retains legal counsel to enforce any term, condition or covenant herein, or to recover damages from Purchaser arising from Purchaser’s alleged breach of any such term, condition or covenant, or if Purchaser commences suit against Seller for any alleged breach of this contract and is not successful in such action, then Purchaser shall pay Seller’s reasonable attorney’s fees together with cost of suit at both trial and appellate levels.
D efault. The occurrence of any of the following shall constitute an event of default of Escrow Agent hereunder:
(1) a breach, by Escrow Agent, of any term or provision of this Escrow Agreement, whether or not material;
(2) any false or misleading representation or warranty made by Escrow Agent;
(3) any affirmative act of insolvency by Xxxxxx Agent, or the filing by Escrow Agent of any petition or action under any bankruptcy, receivership, insolvency, reorganization, dissolution, liquidation or moratorium law, or other similar proceedings instituted by or against Escrow Agent or against all or any part of its property under the Federal Bankruptcy Code or other law of the United States or of any other competent jurisdiction;
(4) the filing of any involuntary petition under any bankruptcy statute against Escrow Agent, or the appointment of any receiver or trustee to take possession of the properties of Escrow Agent, unless such petition or appointment is set aside or withdrawn or ceases to be in effect within thirty (30) days from the date of said filing or appointment; or
(5) the subjection of any of Escrow Agent’s property to any levy, seizure, assignment, application or sale for or by any creditor or governmental agency. In the event of Escrow Agent’s default, at Registrant’s election, Registrant may continue with this Escrow Agreement, cancel or terminate this Escrow Agreement and/or have recourse to any other right or remedy available at law or in equity. Upon Registrant’s election to cancel or terminate this Escrow Agreement, Registrant and Depositor shall enter into a new escrow agreement with a mutually agreed-upon third party escrow agent. Any and all terms and conditions stated herein shall, without modification, be incorporated into the new escrow agreement; provided, however, that Depositor agrees to negotiate in good faith with such escrow agent in the event such escrow agent or Registrant requests modification of any terms and conditions contained herein.
D efault. Neither party shall be considered to be in default of this agreement to the extent the performance is prevented or delayed by any cause, present or future, which is beyond the reasonable control of the Party.
D efault. If any Party defaults under any material terms or conditions of this Agreement, and the default continues for ninety (90) days or more after receipt of written notice of the default from the non-defaulting Party, then the defaulting Party shall be responsible for all costs and expenses incurred by reason of such default, including, but not limited to, any legal expenses incurred by the non- defaulting Party. The rights and remedies of the non-defaulting Party shall not be limited to those, if any, specified in this Agreement, but the non- defaulting Party shall have the rights and remedies to which it may be entitled, either at law or in equity.
D efault. A. It shall be an event of default if DEVELOPER fails to comply with any substantive requirement of this Agreement as enumerated below. If DEVELOPER is in default in the performance of this Agreement, the CITY shall allow DEVELOPER to cure the default as provided below. Subject to Force Majeure in Section 5.02 below, default by DEVELOPER occurs if: (I) DEVELOPER fails to comply with any of the Performance Criteria; (2) DEVELOPER fails to perform any of its substantive duties under this Agreement; (3) DEVELOPER becomes insolvent; (4) all or a substantial part of DEVELOPER'S assets are assigned for the benefit of its creditors; or (5) a receiver or trustee is appointed for DEVELOPER (6) DEVELOPER becomes delinquent in taxes owed to C ITY for any of the Project which DEVELOPER owns. If a default occurs, the C ITY shall deliver at least a sixty (60) day written notice ("Default Notice") to DEVELOPER describing the default and the date (such date to be no earlier than sixty (60) days after the date of such notice) by which the DEVELOPER must substantially cure the default ("Cure Date"). The CITY, at its sole option, may extend the Cure Date to x x xxxx date(s) if the DEVELOPER does not substantially cure the default by such Cure Date. Ifthe DEVELOPER substantially cures the default by the Cure Date or a later date as authorized by the CITY, this Agreement (and the obligations hereunder) shall remain in effect. Notwithstanding the foregoing, in no event shall the DEVELOPER be considered in default ifthe default cannot be cured by reasonably diligent efforts within sixty (60) days after notice from the CITY, and in such a case, the DEVELOPER shall not be in default so long as the DEVELOPER promptly initiates and diligently and continuously attempts to cure the same, even if the same is not cured within said sixty (60) day period.
B. If DEVELOPER does not substantially cure the default as required in Section 5.01 A above, then the CITY may, but is not obligated to, terminate this Agreement, provided, however, to effect termination ofthis Agreement, the CITY must deliver at least a sixty (60) day written notice ( "Termination Notice") to the DEVELOPER of the date this Agreement will terminate ("Tennination Date"). In the event the Termination Notice is not delivered to the DEVELOPER as required herein, then it shall be deemed as though no default by the DEVELOPER (or no Default Notice thereof) had occurred and this Agreement (and the obligations hereunder) shall re...
D efault. In the event Lessee shall fail to pay any installment of rent when due, or upon failure of Lessee to comply with any of the other terms or conditions herein, Lessor shall have the right, at its option, to terminate this Lease upon 10 days written notice to Lessee. In such event, Lessee shall have 3 days from the days of such notice within which to cure the default.
