Default and Indemnity. 8.1 If any of the events set out in Schedule 6 occurs, BoS may elect to treat the occurrence of that event (while the same is continuing unwaived) as an Event of Default and may by notice in writing to the Borrower:-
8.1.1 cancel any part of the Term Loan then undrawn; and/or
8.1.2 require repayment (immediately or otherwise as BoS may require) of the Term Loan together with accrued interest; and/or
8.1.3 require that interest is payable on the Term Loan at the Default Rate; and/or
8.1.4 charge an administration fee to compensate for the additional time spent in administering the Term Loan.
8.2 The Borrower will indemnify (and keep indemnified) BoS on written demand against any loss or expense, including legal fees, which BoS sustains or incurs:-
8.2.1 because of a default by any Group Company of any obligation assumed by it under any BOS Document; or
8.2.2 as a consequence of any Event of Default.
Default and Indemnity. 17.1 If the Customer fails to comply with its obligations under these Terms:
(1) the balance of any money owing by the Customer to the Company shall immediately become due and payable by the Customer;
(2) the Company shall be entitled to charge interest at 15% per annum, if any, calculated daily, on any money due and owing and payable by the Customer to the Company;
(3) the Company may withhold the delivery and/or provision of any Goods and Services already ordered or cancel any order not yet fulfilled; and
(4) the Customer authorises the Company to retake possession of any Goods.
17.2 The Customer indemnifies the Company, its employees, agents and subcontractors against:
(1) all damages, losses, expenses and costs for any claims made against them whether directly or indirectly sustained. The indemnity includes any claim by any third party for loss or damage to any property, injury or death of any person or economic loss arising out of or relating to the Goods and Services or delay in supply of the Goods and Services; and
(2) all reasonable costs and disbursements which the Company may incur in recovering any sums due to be paid by the Customer to the Company, including but not limited to any debt recovery agency fees, court fees or legal fees on an indemnity basis.
Default and Indemnity. If either party is in default of any of its obligations under this Agreement, then the non-defaulting party must give written notice of such default to the defaulting party and the latter will have 10 business days in which to rectify the default, except in the case of an emergency the defaulting party will promptly rectify the default. If the default is not rectified within the 10 day period or promptly in the case of an emergency, then, and without limiting any other remedy which it may have, the non- defaulting party will have the right, but is not obligated, to remedy any such default. This may include taking any action necessary to cure the default and such things as may be incidental thereto. The defaulting party will reimburse the non-defaulting party for any expenses incurred by the non-defaulting party required to remedy the default. The non-defaulting party will not incur any liability to the defaulting party for any action or omission in the course of its remedying or attempting to remedy any such default unless such act amounts to intentional misconduct or gross negligence on the part of the non-defaulting party.
Default and Indemnity. 0 ! /) %uyer de)aults in due ayment o) any monies ayable to Amcor, whether under this Agreement or otherwise, or i) %uyer is in de)xxxx in the er)ormance o) its obligations under this Agreement or any other contract, or i) any o) the e+ents re)erred to in clause 8 # ha+e occurred, without re,udice to any other right it has at law or in e*uity, Amcor may, at its o tion, sus end or terminate this Agreement, and ayment )or &oods deli+ered and wor. er)ormed u to the date o) sus ension or termination any other monies ayable hereunder shall immediately become due and ayable !0 # 3es ite section !5$ o) the AA-A and in addition to the rights contained in that section, %uyer a oints Amcor as its agent to enter u on remises where &oods are situated, to ta.e ossession o) and remo+e the same without being res onsible )or any damage thereby caused, and Amcor may resell any or all o) the &oods and a ly the roceeds in or towards ayment o) the urchase rice and all other monies owing to Amcor by %uyer %uyer shall indemni)y Amcor against all costs and ex enses (including legal )ees, trans ortation and storage charges) incurred by Amcor in connection with any de)xxxx made by %uyer under this Agreement Any sus ension o) this Agreement by Amcor shall not re+ent it terminating this Agreement during the eriod o) sus ension !0 0 Amcor may a oint a recei+er in res ect o) the &oods (including the roceeds o) the same) su lied to %uyer under this Agreement Any recei+er so a ointed may ta.e ossession o) the &oods and resell them and otherwise exercise all rights and owers con)erred on a recei+er by law !0 2 %uyer indemni)ies Amcor against any claim, loss, damage, liability, cost or ex ense that may be incurred or su))ered by Amcor arising )rom or in connection with any breach or de)xxxx by %uyer o) these Terms, any related order or contract, or a licable bribery and corru tion or com etition D antitrust laws !0 6 %uyer indemni)ies and holds Amcor harmless in res ect o) all damages, costs, claims, ex enses and liabilities whatsoe+er to which %uyer is sub,ect arising directly or indirectly out o) or in connection with sales made by %uyer to third arties, or any use (whether by %uyer or any other erson) o) &oods su lied
Default and Indemnity. 6.1 The Company shall indemnify and keep indemnified the Member in respect of any and all costs, expenses, losses and other sums incurred by the Member as a result of any breach by the Company of its obligations under this Agreement.
6.2 If either party (the Defaulting Party) shall commit a material breach of its obligations under this Agreement or a series of breaches under this Agreement which are together material and such breach(es) (being capable of remedy) shall not have been substantially remedied within 14 days after the other party shall have given the Defaulting Party notice of the breach(es) concerned, the other party may terminate this Agreement by serving not less than 7 days' notice to that effect on the Defaulting Party.
Default and Indemnity. (a) For the purposes of this Purchase Order a “Default Event” shall be one or more of the following:
(i) any default or breach by Seller under this Purchase Order including a failure to deliver the goods;
(ii) Seller becomes insolvent, is adjudicated bankrupt, or otherwise unable to pay its debts as they fall due;
(iii) Seller ceases or threatens to cease to carry on its business;
(iv) a receiver, liquidator, official assignee, administrator or statutory manager of Seller or the Seller’s assets is appointed;
(v) Seller enters into any composition or arrangement with its creditors;
(vi) Seller fails to pay any judgment of any court which is not stayed within five working days of the judgment;
(vii) a change in the effective control and/or management of Seller; or
(viii) any other event which in the sole discretion of Xxxxx gives rise to concern as to the timely delivery of the goods.
(b) If a Default Event occurs, Buyer, without prejudice to any other rights and remedies it has herein, at law or in equity may, at any time thereafter, suspend or terminate this Purchase Order, and payment for the any goods not delivered and any money owing by Seller to Buyer shall immediately become due and payable.
(c) Any suspension of this Purchase Order by Buyer shall not prevent Buyer from terminating this Purchase Order during the period of suspension.
(d) Buyer will not be liable to Seller for any loss or damage Seller suffers because Buyer exercises any rights, powers or remedies after the occurrence of a Default Event, including under this clause 13.
(e) All costs, claims, proceedings, damages and expenses of or incurred by Xxxxx as a result of any such action contemplated by this clause 13 together with transportation, storage charges and legal costs (as between solicitor and own client) shall be payable by Seller upon demand.
(f) Buyer is given and may exercise all or any of the rights and remedies referred to herein without prejudice to any other rights and remedies that may be available to it, and no failure or neglect to act or pursue any right or remedy available to Buyer in any way prejudice its right to exercise that or any right or remedy.
(g) Notwithstanding the passing of time since the Default Event, Buyer can invoke the provisions of this clause 13 at any time.
Default and Indemnity. Except as otherwise provided herein, where one Party fails to perform its obligations hereunder, the other Party may by written notice to the defaulting Party to request the defaulting Party to perform its obligations or to provide proper remedies to effectively and promptly avoid or minimize the losses and damages, and to resume its performance of this Agreement. In addition, the defaulting Party shall indemnify the Performing Party for all losses and damages incurred as a result of such default.
Default and Indemnity. The agreement will incorporate provisions for indemnity against a party’s breach. Where a party is in breach of their obligations then the other may serve notice requiring immediate action to remedy the breach within a reasonable period. If at any time Xxxxxxx fails for a continuous period of [12 months] to provide elements of the Shared Infrastructure in accordance with the finally agreed phasing programme which has not arisen as a result of force majeure or any other reason wholly outside Redlawn’s control which would entitle any contractor to an extension of time under the relevant construction contract then Redlawn shall immediately cease any further construction works for the residential units on any part of Redlawn’s own land until such time as the Shared Infrastructure works have been brought back into line with the agreed programme The agreement is to contain dispute resolution provisions.
Default and Indemnity. 12.1. If the Buyer defaults in the due payment of any moneys payable to the Company, whether under this Agreement or otherwise, or if the Buyer is in default in the performance of its obligations under this Agreement or any other contract or any of the events referred to in clause 7.2 have occurred, the Company, without prejudice to any other right it has at law or in equity, may, at its option, suspend or terminate this Agreement, and payment for the Goods delivered and work performed up to the date of such suspension or termination any other moneys payable hereunder shall immediately become due and payable.
12.2. The Buyer appoints the Company as its agent to enter upon the premises where the Goods are situated, despite section 109 of the PPSA and in addition to the rights contained in that section, take possession of and remove the same without being responsible for any damage thereby caused, and the Company may resell any or all of the Goods and apply the proceeds in or towards payment of the purchase price and all other moneys owing to the Company by the Buyer. The Buyer shall indemnify the Company against all costs and expenses (including legal fees, transportation and storage charges) incurred by the Company in connection with any default made by the Buyer under this Agreement. Any suspension of this Agreement by the Company shall not prevent it terminating this Agreement during the period of suspension.
12.3. The Company may appoint a receiver in respect of the Goods (including the proceeds of the same) supplied to the Buyer, under this Agreement. Any receiver so appointed may take possession of the Goods and resell them and otherwise exercise all rights and powers conferred on a receiver by law.
Default and Indemnity. 8.1 The defaulting party shall indemnify and hold harmless the non-defaulting party from and against any expenses or additional liabilities or obligations or any losses or damages, including, but not limited to lawyer’s fee and investigation expenses, caused by or arising from the defaults of the defaulting party.
8.2 Party B shall defend, protect, indemnify and hold harmless Party A from and against any lawsuit, claim or other demand against Party A caused by or arising from the technical development and technical consultancy under this Agreement as well as any losses, damages, liabilities and expenses thus caused to Party A.
