Default by the Client. The Consulting Engineer may by written notice to the Client terminate this Agreement:
(i) if he has not received payment of that part of any invoice, which is not contested, within ninety (90) days of the submission thereof; or
(ii) if the Services have been postponed as provided for in Sub- Clause 14.2 and the period of postponement has exceeded six
Default by the Client. 11.1 In the event the Client:
(a) breaches or is alleged to have breached the Agreement and fails to rectify such breach when requested by the Company;
(b) threatens or is likely to become subject to any insolvency, administration or bankruptcy;
(c) has made any false, inaccurate or misleading statements having a material effect in relation to the making of the Agreement or any related or collateral document; or
(d) in Company’s opinion, acting reasonably, has a material adverse change in their financial condition; Company may, without prejudice to any other rights:
(e) refuse to perform a Supply except where payment in full has been received by Company prior to a Supply; and
(f) retain (where applicable) all moneys paid on account of any Supply.
11.2 If the Client defaults in paying any invoiced amount or any amount otherwise due and owing from the Client to Company, and fails to rectify such default within seven (7) days of a written request from the Company to do so:
(a) the Client must pay interest on the highest debt balance of each calendar month on monies owing by the Client to Company calculated daily from the date the amount became payable to the date of payment at an annual rate of interest of 36% and the rate advised by the Bank as the rate charged by the Bank on overdrafts in excess of $100,000, or interest costs awarded by the courts, whichever is the greater (to a maximum of 60% per annum); and
(b) any unpaid amount together with interest and any other expenses becomes a debt due by the Client to Company and the Client must pay Company’s reasonable costs of any enforcement action, including, but not limited to, any legal costs.
Default by the Client. If the Client fails to make payment for work properly done by the Contractor as provided for in this agreement and the Contractor issues a notice in writing to the Client and the Client fails to pay within 5 days then the Contractor may, without prejudice to any other rights he may have, cancel the contract, stop work, and clear the site. The Contractor shall thereupon be entitled to payment in full for the work performed and materials supplied up to the date of cancellation of the agreement.
Default by the Client. 9.1 To the extent that the Supplier's performance of any of its obligations under the Agreement is prevented or delayed by a failure or delay by the Client or any of the Support Partners in: (i) complying with this Agreement (including any Client responsibilities set out in the Proposal); and/or (ii) granting the Supplier Access, the Supplier shall be entitled to an extension of time in respect of the performance of the affected obligation commensurate with the delay caused by the Client's or its Support Partner's failure to so comply or delay in complying or failure to grant or delay in granting Access.
Default by the Client. 15.1 The Client shall be deemed to be in default by operation of law and its (remaining) debts to IHC Hytech B.V. shall become immediately due and payable, if and when:
a. The Client applies for its own bankruptcy or moratorium, is declared bankrupt or is granted a suspension of payment;
b. All or a part of the Client’s assets are attached and said attachment is not lifted within ten (10) days of having been levied;
c. The Client fails to pay (part of) an invoice within the period agreed;
d. The Client proceeds or resolves to liquidate its business, to cease doing business, to sell all or part of its business, to alter the objects of its business or to dissolve its business;
e. A direct or indirect change of control in (part of) the Client’s business occurs.
f. The Client fails, after having been notified of its default in writing by IHC Hytech B.V. and thereby granted a reasonable period to remedy the default, to comply in full or in part with any other obligation under the Agreement not already mentioned in this clause 15.1;
15.2 In the situations described in clause 15.1 of these Conditions, IHC Hytech B.V. may, without any obligation on its part to pay compensation, without prejudice to its other statutory and contractual rights, without notice of default and without the requirement for the intervention of a court of law or arbitrators, at its own discretion:
a. Postpone the performance of any obligation it may have towards the Client until the lat- ter has met all of its obligations towards IHC Hytech B.V.;
Default by the Client a. Should the client breach any condition contained in this agreement, or should the client breach a condition of any other agreement with the Bank (which breach will constitute a breach of this agreement), the Bank will have the right, to the extent permitted by the law, to claim repayment of all amounts owing to or claimable by the Bank in terms of this agreement, together with interest thereon.
b. All amounts owing to or claimable by the Bank in terms of this agreement will, at the option of the Bank and to the extent permitted by applicable regulations, become immediately due and payable without notice, in the event that the client fails to pay on demand any sum or sums of money owing to or claimable by the Bank in respect of any overdraft and/or financial facility granted to the client or any other indebtedness of the client to the Bank from whatever cause arising. Any failure by the client to effect payment of the aforesaid will constitute a breach of this agreement.
c. The Bank may, without notice, set off against any account or indebtedness of the Customer;
(i) Any other account whether current, loan, savings, or any other type; (ii). Any time or other deposit
Default by the Client. (1) The Client fails to pay the project advance payment as provided in Clause 24 of this General Provisions;
(2) The construction work cannot be carried out because of the Client fails to pay the Project price as agreed in Clause 26.5 of this General Provisions;
(3) The Client fails to pay the project completion settlement payment without good cause as mentioned in Clause 33.3 of this General Provisions;
(4) Other situations whereby the Client does not perform or fails to perform its obligations as stipulated in the contract. In the event the above situations occur during the performance of this Contract, the Client shall be responsible for the Default Liability and shall compensate the Contractor for the economic loss arising from the default of his performance and shall extend the Duration for the delay so caused. The parties shall stipulate their agreement in the Special Provisions of this contract on the method of calculation for the loss of the Contractor or for the compensation amount payable by the Client for the default.
Default by the Client a) Each of the following occurrences constitutes an event of default:
(i) the Client breaches or is alleged to have breached these terms and conditions for any reason (including, but not limited to, defaulting on any payment due under these terms and conditions) and fails to remedy that breach within 14 days of being given notice by the Cabinet Maker to do so;
(ii) the Client being a natural person, commits an act of bankruptcy;
(iii) the Client, being a corporation, is subject to:
(A) a petition being presented, an order being made, or a meeting being called to consider a resolution for the Client to be wound up, deregistered or dissolved;
(B) a receiver, receiver and manager or an administrator under Part 5.3A of the Corporations Act 2001 (Cth) being appointed to all or any part of the Client’s property and undertaking;
(C) the entering of a scheme of arrangement (other than for the purpose of restructuring); and
(D) any assignment for the benefit of creditors;
(iv) the Client purports to assign its rights under these terms and conditions without the Cabinet Maker’s prior written consent; or
(v) the Client ceases or threatens to cease conduct of its business in the normal manner.
b) Where an event of default occurs, except where payment in full has been received by the Cabinet Maker, the Cabinet Maker may:
(i) terminate these terms and conditions;
(ii) terminate any or all Orders and credit arrangements (if any) with the Client;
(iii) refuse to deliver Goods or provide further Services;
(iv) pursuant to clause 10 above, repossess and re-sell any Goods delivered to the Client, the payment for which has not been received; or
(v) retain (where applicable) all money paid by the Client on account of Goods or Services or otherwise.
c) In addition to any action permitted to be taken by the Cabinet Maker under paragraph 14(b), on the occurrence of an event of default all invoices will become immediately due and payable.
Default by the Client. 20.1. The Contractor may terminate this Agreement at any time and by 28 calendar days' written notice to the Client, if the Client fails to make payments as described under Clause 8 of this Agreement provided that the Contractor notifies the Client in writing that it has not received payment within fourteen days of the due date for payment, and that it will terminate the Agreement if payment is not received within seven days of receipt of the letter of notification regarding nonpayment.
Default by the Client. 11.1 In the event the Client:
(a) Breaches or is alleged to have breached the Agreement;
(b) threatens or is likely to become subject to any insolvency, administration or bankruptcy;
(c) has made any false, inaccurate or misleading statements having a material effect in relation to the making of the Agreement or any related or collateral document; or
(d) in Company’s opinion, acting reasonably, has a material adverse change in their financial condition; Company may, without prejudice to any other rights:
(e) refuse to perform a Supply except where payment in full has been received by Company prior to a Supply; and
(f) retain (where applicable) all moneys paid on account of any Supply.
11.2 If the Client defaults in paying any invoiced amount or any amount otherwise due and owing from the Client to Company:
(a) unless otherwise agreed in writing by Company, the Client must pay interest on the highest debt balance of each calendar month on monies owing by the Client to Company calculated daily from the date the amount became payable to the date of payment at a rate per annum which is the sum of 3% and the rate advised by the Company’s bank as the rate charged by the Company’s bank on overdrafts in excess of £55,000; or interest costs awarded by the courts, whichever is the greater.
