Default and Remedies Termination Sample Clauses

Default and Remedies Termination. (a) Either party may declare the other party in default: (i) if the defaulting party defaults in any payment to the non-defaulting party and such failure continues unremedied for a period of twenty (20) days after the date of receipt by the defaulting party of written notice specifying the default in reasonable detail; or (ii) if the defaulting party defaults in its performance of any other material term or condition of this Agreement, or of any MPS issued pursuant to this Agreement, and such default continues unremedied for a period of thirty (30) days after the date of receipt by the defaulting party of written notice specifying the default in reasonable detail; or (iii) if the defaulting party files a petition in bankruptcy, has a petition in bankruptcy filed against it and such petition is not dismissed within 90 days, makes an assignment for the benefit of creditors, suffers foreclosure of all or substantially all of its assets or seeks the appointment of a receiver for all or substantially all of its assets. (b) In the event of a default hereunder, the non-defaulting party may, by thirty (30) days prior written notice to the defaulting party, terminate this Agreement and all or any of the privileges, permissions and rights granted to the defaulting party hereunder or in connection herewith in whole or in part. The effective date of termination will be the date therefor stated in any termination notice given hereunder, which date will not be before the expiration of any applicable cure period provided for herein. Any such termination will not effect the liability of either party for any breach arising prior to such termination. (c) Upon expiration of the Term or in the event of an unremedied event of default by NSI (and the expiration of any cure periods), SigmaTron may exercise any one or more of the following remedies, in addition to any other remedies available to it hereunder: (i) all inventory, components and materials (including the Safety Stock), either in stock, on order and not cancelable by SigmaTron without penalty, or not useable by SigmaTron in the ordinary course of its business, may be
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Default and Remedies Termination. 28 14.1 HI-POWER Events of Default ................................................................................................................. 28 14.2 ACRO Events of Default ......................................................................................................................... 28 14.3 ACRO Remedies Upon Owner Event of Default..................................................................................... 29 14.4 Owner Remedies Upon Contractor Event of Default ............................................................................... 29 14.5 Termination for Convenience By HI-POWER ........................................................................................ 30 ARTICLE 15.
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Default and Remedies Termination. AVF may terminate this Agreement in the event the Effective Date does not occur by December
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Default and Remedies Termination a. GIC agrees that if, at any time during the Term and for a period of ten (10) years thereafter, GIC or any of its officers, directors or agents willfully and intentionally breaches a material provision of this Agreement and GIC fails to cure such breach within a period of one (1) month after the date that Kyxpyx provides GIC with notice thereof, Kyxpyx shall have the right to terminate this Agreement and terminate the license grants set forth in Section 2, inclusive of any Upgrades, versions or successors thereto. GIC's rights under Section 2 of this Agreement with respect to Upgrades it develops shall survive any expiration or termination of this Agreement. b. GIC may terminate this Agreement only if Kyxpyx fails to deliver ISV in satisfaction of GIC's acceptance criteria after notice to Kyxpyx and an opportunity to cure, in accordance with Section 12.6. c. Except as expressly stated in this Section 11.2 and in Section 12.6, the parties agree that in the event that either party breaches any material term of this Agreement, the non-breaching party shall deliver notice thereof to the breaching party and the breaching party shall have thirty (30) days from receiving such notice to cure such breach. If the breach continues after such 30-day period, the non-breaching party's sole remedy shall be to seek monetary damages in a court of competent jurisdiction.
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Default and Remedies Termination 
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Default and Remedies Termination 
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Related to Default and Remedies Termination

  • Default and Remedies Either of the following constitutes cause to declare this Contract, or any Participating Entity order under this Contract, in default: 1. Nonperformance of contractual requirements, or 2. A material breach of any term or condition of this Contract. The party claiming default must provide written notice of the default, with 30 calendar days to cure the default. Time allowed for cure will not diminish or eliminate any liability for liquidated or other damages. If the default remains after the opportunity for cure, the non-defaulting party may: • Exercise any remedy provided by law or equity, or • Terminate the Contract or any portion thereof, including any orders issued against the Contract.

  • Events of Default and Remedies (a) Any one or more of the following events which shall have occurred and be continuing shall constitute an event of default (“Event of Default”): (i) The Company or any subsidiary (A) shall institute any proceeding or voluntary case seeking to adjudicate it bankrupt or insolvent, or seeking dissolution, liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of any order for relief or the appointment of a receiver, trustee, custodian or other similar official for such the Company or any subsidiary or for any substantial part of its property, or shall consent to the commencement against it of such a proceeding or case, or shall file an answer in any such case or proceeding commenced against it consenting to or acquiescing in the commencement of such case or proceeding, or shall consent to or acquiesce in the appointment of such a receiver, trustee, custodian or similar official; (B) shall be unable to pay its debts as such debts become due, or shall admit in writing its inability to apply its debts generally; (C) shall make a general assignment for the benefit of creditors; or (D) shall take any action to authorize or effect any of the actions set forth above in this subsection 4(a)(i); (ii) Any proceeding shall be instituted against the Company seeking to adjudicate it a bankrupt or insolvent, or seeking dissolution, liquidation, winding up, reorganization, arrangement, adjustment, protection, relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for the Company or for any substantial part of its property, and either such proceeding shall not have been dismissed or shall not have been stayed for a period of sixty (60) days or any of the actions sought in such proceeding (including, without limitation, the entry of any order for relief against it or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property) shall occur; or (iii) The Company shall fail to pay the any part of the Principal when due hereunder; (b) If an Event of Default described above has occurred, then the Holder may, without further notice to the Company, declare the principal amount of this Note at the time outstanding, and all other amounts payable under this Note to be forthwith due and payable, whereupon such principal and all such amounts shall become and be forthwith due and payable. (c) The Company covenants that in case the Principal of the Note becomes due and payable by declaration or otherwise, then the Company will pay in cash to the Holder of this Note, the whole amount that then shall have become due and payable on this Note for Principal. In case the Company shall fail forthwith to pay such amount, the Holder may commence an action or proceeding at law or in equity for the collection of the sums so due and unpaid, and may prosecute any such action or proceeding to judgment or final decree against Company or other obligor upon this Note, wherever situated, the monies adjudicated or decreed to be payable.

  • Performance Default and Remedies Subsection B. DEFAULT AND REMEDIES, second paragraph of the Contract is modified as follows (underlined language is added and stricken language is deleted): “Written notice of default and a reasonable 30-day opportunity to cure must be issued by the party claiming default.”

  • Termination and Remedies 9.1 In the event that Seller shall have failed to have performed any of the covenants and/or agreements contained herein which are to be performed by Seller, or if any of the conditions precedent to Purchaser's obligation to consummate the transactions contemplated hereby shall have failed to occur, Purchaser may, at its option, terminate this Agreement by giving written notice of termination to Seller and receive a full and immediate refund of any and all Xxxxxxx Money previously deposited and if and only if Seller shall have failed to perform any of the covenants and/or agreements contained herein which are to be performed by Seller then Purchaser shall be entitled to receive from Seller an additional refund of Purchaser’s costs which can be directly attributed to the Due Diligence process in an amount up to but not exceeding $25,000.000, or Purchaser may seek to enforce specific performance of this Agreement as its sole remedies. 9.2 If this Agreement is terminated by Purchaser pursuant to any provision of this Agreement authorizing such termination, Purchaser shall be entitled to the immediate refund of any and all Xxxxxxx Money previously deposited, together with all interest accrued thereon and thereafter Purchaser shall have no further obligations hereunder. 9.3 If Seller is not then in default in its obligations or agreements, and the Purchaser has not terminated this Agreement pursuant to any of the provisions authorizing such termination, and Purchaser fails to close the transaction contemplated hereby, Seller shall be entitled to receive the Xxxxxxx Money as Seller's sole and exclusive remedy for such failure, Seller hereby specifically waiving any and all rights which it may have to damages, specific performance or any other remedy as a result of Purchaser's default under this Agreement.

  • Defaults and Remedies Section 6.01.

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