Default by Either Party. An Event of Default shall have occurred upon (i) the occurrence of a material breach (other than a material breach described in clause (ii) hereof or in Section 11.2.2 below) if breaching party fails to remedy such breach within ninety (90) days after written notice thereof by the non-breaching party, or (ii) the bankruptcy, insolvency, dissolution or winding up of a party.
Default by Either Party. 8.1 If the Promoter fails to abide by the time schedule for completing the said Project and handing over the said Apartment to the Allottee/s, the Promoter agrees, subject to what has been stated in Clause 9 hereunder, to pay to the Allottee/s, who does not intend to withdraw from the Project, interest as specified in the Rule, on all the amounts paid by the Allottee/s, for every month of delay, till the handing over of the possession. The Allottee/s agrees to pay to the Promoter, interest as specified in the Rule, on all the amounts delayed payment which become due and payable by the Allottee/s to the Promoter under the terms of this Agreement from the date the said amount is payable by the Allottee/s(s) to the Promoter.
8.2 Without prejudice to right of Promoter to charge the interest in terms of Clause 6 hereinabove on the Allottee/s committing default in payment on due date of any amount due and payable by the Allottee/s to the Promoter under this Agreement (including his/her proportionate share of taxes levied by concerned local authority and other outgoings) and on the Allottee/s committing defaults of payment of instalments, the Promoter shall at its own option, be entitled to terminate this Agreement; Provided that, Promoter shall give notice of fifteen days in writing to the Allottee/s, by Registered Post AD at the last address provided by the Allottee/s and mail at the email address provided by the Allottee/s, of its intention to terminate this Agreement and of the specific breach or breaches of terms and conditions in respect of which it is intended to terminate the Agreement. If the Allottee/s fails to rectify the breach or breaches mentioned by the Promoter within the period of notice then at the end of such notice period, Promoter shall be entitled to terminate this Agreement and in such event the Allottee/s shall be liable to pay 10% of the total consideration for purchase of the said Apartment to the Promoter as liquidated damages. Inter alia, the Promoter shall be entitled to forfeit the entire Booking Amount, i.e. 10% of the Total Consideration out of the total amounts paid by the Allottee/s till the date of such termination and refund the balance amounts to the Allottee/s within 30 days of such termination as per Applicable Law. Provided further that upon termination of this Agreement as aforesaid, the Promoter shall refund to the Allottee/s (subject to adjustment and recovery of liquidated damages or any other amount which may be payabl...
Default by Either Party. Either Party may terminate this Agreement by notification, in writing, ninety (90) days prior to termination (i) upon the occurrence of a breach of a material term of this Agreement, including the failure of such Party to meet any milestones or other requirements of the Development Plan as set forth therein, if the breaching Party fails to demonstrate its ability to remedy such breach within thirty (30) days after notice thereof by the non-breaching Party or, with respect to a breach (other than a failure to make a payment) that cannot be cured within such period, then such longer period (up to 90 days) as may be reasonably necessary, using commercially reasonable efforts, to cure the breach, or (ii) if the other Party files for protection under the bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it and such proceeding remains undismissed or unstayed for a period of more than thirty days.
Default by Either Party. In the event of default by any party for nonpayment of sums due under this Agreement, the other party shall have the right to commence legal action to recover all sums due hereunder, including late fees under Section 2.3, the later of forty-five (45) days after such sums become due under this Agreement, or 30 days after the expiration of any cure period allowed for under this Agreement. Notwithstanding any provision to the contrary herein, no party shall have any right to set off any sums due or otherwise alleged to be due hereunder from moneys due the other party.
Default by Either Party. Should either party default at any time in the faithful performance and observance of the terms or conditions of this Agreement and should any such default continue for thirty (30) or more days after written notice thereof to the defaulting party, then the non-defaulting party shall have the right to cancel and terminate this Agreement and to recover damages or seek any other relief which it may be entitled at law or in equity. Should either party be adjudicated bankrupt or insolvent in an involuntary proceeding, or if such party shall have filed a petition for an arrangement of creditors under the bankruptcy laws or insolvency laws of any jurisdiction, or if a bankruptcy or insolvency proceeding is instituted against such party which is not set aside within thirty (30) days thereafter, then, in that event, such party shall be deemed to be in default of this Agreement, thereby entitling the other party hereto to treat this Agreement, in accordance with the foregoing, as being in default.
Default by Either Party. A party shall be in default under this Agreement (the “Breaching Party”) and the other party (the “Nondefaulting Party”) shall have the remedies therefor set forth in Section 15.2 below, if: the Breaching Party materially defaults or materially breaches any of its promises, covenants, or agreements contained in this Agreement, and such breach has not been (i) waived in writing by the Nondefaulting Party or (ii) cured by the Breaching Party to the reasonable satisfaction of the Nondefaulting Party within thirty (30) business days after service by the Nondefaulting Party upon the Breaching Party of a written notice which describes the nature of such breach.
Default by Either Party. Either Party may terminate this Agreement and/or any open Purchase Orders for Products by notification, in writing, (i) upon the occurrence of a breach of a material term of this Agreement if the breaching Party fails to remedy such breach (if such breach is a failure to make payment) or demonstrate its ability to remedy such breach (if such breach is other than a failure to make payment) within thirty (30) days after notice thereof by the non-breaching Party or, with respect to a breach (other than a failure to make payment) that cannot be cured within such period, then such longer period (up to 90 days) as may be reasonably necessary, using commercially reasonable efforts, to cure the breach, or (ii) if the other Party files for protection under the bankruptcy laws, makes an assignment for the benefit of creditors, appoints or suffers appointment of a receiver or trustee over its property, files a petition under any bankruptcy or insolvency act or has any such petition filed against it and such proceeding remains un-dismissed or un-stayed for a period of more than thirty days. Agilent shall not be obligated to accept additional Purchase Orders during any period LipoScience has undisputed past due receivables which remain unpaid after thirty days written notice.
Default by Either Party. An Event of Default by either party shall have occurred upon (i) the occurrence of a material breach of this Agreement if such party fails to remedy such breach within [**] after written notice thereof by the non-breaching party (or, if remediation of such breach in [**] is not practicable, if such party fails to commence and diligently pursue such remediation during such [**] period), or (ii) the commencement of any proceeding in or for bankruptcy, insolvency, dissolution or winding up by or against such party that is not dismissed or otherwise disposed of within [**] thereafter.
Default by Either Party. Notwithstanding the provisions of paragraph above, if prior to Closing, either party refuses to consummate this Agreement for reasons other than as permitted by the terms of this Agreement, such refusal shall constitute a breach and default of this Agreement and the non-defaulting Party’s remedies shall be limited to the right to enforce the defaulting Party’s obligations hereunder by an action for injunction, specific performance, or other appropriate equitable remedy or for mandamus, or by an action to collect and enforce payment of sums owing hereunder, and no other remedy, and no Party shall be entitled to or claim damages for a default by the defaulting Party, including, without limitation, lost profits, economic damages, or actual, direct, incidental, consequential, punitive or exemplary damages.
Default by Either Party. 7.1 In the event of breach of or default in the obligations owed to either the Owner or the City under this Agreement, the other party may take any action available to it at law, in equity, by statute or under this Agreement provided that the other party (unless in the opinion of the other party because of the nature of the default or other circumstances it is not feasible to delay for the notice period) shall first give to the defaulting party notice of the default and sixty (60) days to remedy the same or make arrangements satisfactory to the other party to remedy the same. If the default is by the Owner and is not remedied or arrangements made as aforesaid the City, in addition to its other rights aforesaid, may remedy the default as provided under Article 7.3.
7.2 The parties acknowledge that monetary damages may not be effective to compensate for damage to or destruction of the natural values and features of the property or adequate to compensate for restoration of the Lands. Accordingly, in addition to and without limiting the scope of the other enforcement rights available to the Owner and the City under this Agreement, the parties agree that each of the Owner and the City may bring an action or an application for, and be entitled to, injunctive relief to prohibit or prevent default or breach or the continuance of default or breach under this Agreement.
7.3 If notice of default has been given pursuant to Article 7.1 by the City to the Owner and the default has not been cured within the period provided for therein, the City may serve on the Owner a further notice setting out particulars of the City's estimated maximum costs of remedying the default. The Owner shall have ten (l0) days from receipt of such notice to remedy the default or make arrangements satisfactory to the City for remedying the default, and if the Owner does not do so, the City, by itself, its servants, agents or contractors, may enter upon the Lands and cure the default. The Owner shall reimburse the City for any costs and expenses incurred thereby (including GST and other applicable taxes), up to the estimated n1aximum costs of remedying the default set out in the aforesaid notice. Such costs and expenses incurred by the City shall, until paid to it by the Owner, be a debt owed by the Owner to the City with interest as provided in Article 9.10, and debt with such interest shall be a charge upon the Lands enforceable in the same manner as a mortgage, and shall, in any event, be rec...
