Default and Penalties. The occurrence of any of the following will constitute an Event of Default hereunder: (a) default in the payment of the Principal Amount and the accrued and unpaid Interest in full by the Maturity Date; (b) if: (i) any proceedings are commenced by the Borrower under applicable bankruptcy or insolvency legislation (including a proposal or notice of intention to commence proceedings; (ii) the Borrower commits an act of bankruptcy; (iii) the Borrower becomes insolvent or bankrupt or makes an authorized assignment pursuant to applicable bankruptcy or insolvency legislation; or (iv) a bankruptcy petition is filed by or presented against the Borrower and remains undischarged or unstayed for a period of 30 days.
Default and Penalties. The occurrence of any of the following shall constitute an Event of Default hereunder:
Default and Penalties. 8.1 Any dispute, difference or question between the parties to this agreement, which cannot be resolved mutually by negotiation, and except in so far as may be otherwise provided in this agreement, shall be referred for arbitration by any party to a meeting with the Institution and the Service Manager for Learning Services or their representative.
Default and Penalties. The occurrence of any of the following shall constitute an “Event of Default” hereunder:
Default and Penalties. 26. Where a payment is not received on the due date, we shall write to you to effect payment within fourteen (14) days from the date of the notice requesting payment.
Default and Penalties. 7.1. The breach of the clauses foreseen in this document and other legislation and regulations applicable to the shared-use bicycle system attributable to the User is considered a serious default and may imply contractual termination and consequent cancellation of the service provision, either temporarily or permanently, and disqualification from using the Bicycle.
Default and Penalties. XxXxxxx is expected to fully and timely comply with all of the Integrity Obligations under this Agreement. As a contractual remedy, the Parties hereby agree that DiMarco’s failure to comply with the Integrity Obligations set forth in this Agreement will lead to the imposition of the following monetary penalties (hereinafter referred to as “Stipulated Penalties”) in accordance with the following provisions:
Default and Penalties
