DEFAULT AND COMPENSATION Sample Clauses

DEFAULT AND COMPENSATION. (a) Should the Buyers default in the payment of the Deposit or the balance of the Purchase Price in the manner and within the time herein specified, or the Buyers otherwise fail to perform their obligations under this Agreement and such failure is not remedied within seven (7) days following receipt of a notice of default from the Sellers to the Buyers, then the Sellers shall have the right to cancel this Agreement. In such event the Deposit if already paid, together with interest accrued thereon, if any, shall be forfeited to the Sellers. If the Deposit has not yet been paid the Sellers shall have the right to receive the amount equivalent to the Deposit from the Buyers. If the Deposit or the amount equivalent to the Deposit does not cover the Sellers' losses, the Sellers shall have the right to claim further compensation from the Buyers to recover such losses. (b) Should the Sellers default in the delivery of the Vessel with everything belonging to her in the manner and within the time herein specified, or the Sellers otherwise fail to perform their obligations under this Agreement and such failure is not remedied within seven (7) days following receipt of a notice of default from the Buyers to the Sellers, then the Buyers shall have the right to cancel this Agreement. In such event the Buyers shall have the right to be paid the amount equivalent to the Deposit by the Sellers and the Deposit, if already paid, together with interest accrued thereon, if any, shall be released to the Buyers. If the amount equivalent to the Deposit does not cover the Buyers' losses the Buyers shall have the right to claim further compensation from the Sellers to recover such losses.
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DEFAULT AND COMPENSATION. 9.1 The Transferor hereby undertakes that it will compensate the Transferee according to the Transferee’s demand with respect to the following matters and enable the Transferee to obtain complete, adequate, timely, effective and full compensation any time: (1) The Transferee has to defend itself from any prosecution, claim, legal litigation, loss, compensation, payment, costs and expenses (including but not limited to professional fees and expenses) due to its acceptance of the Target Assets and any matters that had occurred before the Settlement Date, unless otherwise provided in the Agreement; (2) From the date of the Agreement to the Settlement Date, in the event that the Transferor holds the Target Assets, any prosecution, claim, legal litigation, loss, compensation, payment, costs and expenses (including but not limited to professional fees and expenses) incurred or suffered as a result of the Transferor’s fault or mistake; (3) Any prosecution, claim, legal litigation, loss, compensation, payment, costs and expenses (including but not limited to professional fees and expenses) incurred or suffered by the Transferee at any time as a result of any interests, liabilities or responsibilities of the Transferor or its subsidiaries (other than the Transferee and its subsidiaries); and (4) Any prosecution, claim, legal litigation, loss, compensation, payment, costs and expenses (including but not limited to professional fees and expenses) incurred or suffered by the Transferee at any time as a result of the breach of any stipulations of the Agreement (including but not limited to the above-mentioned warranties) by the Transferor or its subsidiaries (other than the Transferee and its subsidiaries). 9.2 The Transferee hereby undertakes that it shall compensate the Transferor for any actual losses that the Transferor incurs or suffers as a result of the breach of any stipulations of the Agreement by the Transferee. 9.3 Any Party to the Agreement who makes a demand for compensation from the other party pursuant to the Agreement should do so in writing, and should make reasonably detailed explanations of the facts and situation related to that claim.
Sample 1
DEFAULT AND COMPENSATION. Should the Buyers fail to fulfil this Agreement, the Sellers have the right to cancel the Agreement, in which case the performance bond shall be forfeited to the Sellers. If the performance bond does not cover the Sellers' loss caused by the Buyers' non-fulfilment of this Agreement, the Sellers shall be entitled to claim further compensation from the Buyers for any loss and for all expenses. If the Sellers should default in the delivery of the Vessel with everything belonging to her in the manner and within the time herein specified, the performance bond shall at once be returned to the Buyers and in addition the Sellers shall, when such default is due to their negligent or intentional acts or omissions, make due compensation for loss caused by their non-fulfilment of this Agreement.
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DEFAULT AND COMPENSATION 
Sample 1

Related to DEFAULT AND COMPENSATION

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Employment and Compensation The following terms and conditions will govern the Executive’s employment with the Company throughout the Term.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.

  • ADDITIONAL COMPENSATION AND BENEFITS The Executive shall receive the following additional compensation and welfare and fringe benefits:

  • Fees and Compensation Managers and Officers may receive such compensation and fees, if any, for their services, and such reimbursement for expenses, as may be determined by resolution of the Board.

  • Full Compensation Subrecipient agrees to accept the specified compensation as set forth in this Contract as full remuneration for performing all services and furnishing all staffing and materials required, for any reasonably unforeseen difficulties which may arise or be encountered in the execution of the services until acceptance, for risks connected with the services, and for performance by the Subrecipient of all its duties and obligations hereunder.

  • Employment Compensation Schedule 3.16 contains a true and correct list of all employees to whom Company is paying compensation, including bonuses and incentives, at an annual rate in excess of Fifteen Thousand Dollars ($15,000) for services rendered or otherwise; and in the case of salaried employees such list identifies the current annual rate of compensation for each employee and in the case of hourly or commission employees identifies certain reasonable ranges of rates and the number of employees falling within each such range.

  • Complaints and Compensation If you have a complaint of any kind, please be sure to let us know. We will do our utmost to resolve the issue. You can put your complaint in writing to us at:

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