Default by School Clause Samples
The 'Default by School' clause defines the consequences and procedures that apply if the school fails to meet its obligations under the agreement. Typically, this clause outlines what constitutes a default, such as non-payment, failure to provide agreed services, or breach of contract terms, and may specify notice requirements and opportunities to cure the default. Its core function is to protect the other party by providing a clear process for addressing breaches, potentially including remedies like termination or damages, thereby ensuring accountability and reducing uncertainty in the contractual relationship.
Default by School. If the School, sixty (60) days after receipt of written notice, fails to correct or cure any material breach of this Contract, the Contractor may cancel and terminate this Contract and institute measures to collect monies due up to and including the date of termination.
Default by School. The occurrence of any one or more of the following shall constitute an “Event of Default” by School under this FUA. (i) School’s failure to pay any sum due or appropriate or fund any financial obligation hereunder within ten (10) days after written demand for said payment, appropriation, or funding; (ii) School’s failure to perform or observe any other term, covenant, or condition of this Agreement, and such failure continues for a period of more than fifteen (15) days after the date School receives written notice from the District notifying School of the specific failure; provided, however, School shall have such extended period as may be required beyond the fifteen (15) days if the nature of the cure is such that it reasonably requires more than fifteen (15) days and School commences the cure within the fifteen (15) day period and thereafter continuously and diligently pursues the cure to completion, not to exceed sixty (60) days after such notice; (iii) School’s interests hereunder being taken by execution, attachment or process of law or being subjected to any bankruptcy proceeding; (iv) if the School is no longer a charter school authorized by the District; or (v) Merit Academy’s vacation or abandonment of the FUA Premises, which abandonment is defined to include, but is not limited to, failure to conduct its business at the FUA Premises during any twenty (20) business day period, other than abandonment due to casualty damage, repairs or alterations (holiday or summer breaks or any period where the school is closed due to public health concerns shall be excluded from such abandonment).
Default by School. If School causes either an Event of Monetary Default or an Event of Non-Monetary Default, then the City may commence proceedings to modify or terminate this Agreement pursuant to this Section 11.4.