DEFAULT BY THE LICENSEE Sample Clauses

DEFAULT BY THE LICENSEE. 13.1 The Licensor reserves the right to take possession of the Room or Studio if: (a) the Licence Fees or any part of it is unpaid for fourteen days after it is due whether formally demanded or not; (b) there is a breach of any of the Licensee’s obligations under this Licence; (c) the Licensee is declared bankrupt under the Bankruptcy Xxx 0000; or (d) The Licensee’s status as an enrolled student of a university shall terminate or be suspended for any reason whatsoever. 13.2 If the Licensor re-enters the Room or Studio pursuant to this clause 13 then the Licence shall immediately end. Any right or remedy of the Licensor in respect of any breach of the terms of this Licence by the Licensee will remain in force. 13.3 If the Licensee breaches this Licence or fails to fulfil any of its obligations under this Licence, the Licensee shall pay any reasonable costs properly incurred by the Licensor in remedying such breaches or in connection with the enforcement of those obligations.
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DEFAULT BY THE LICENSEE. Ultra may terminate this Agreement, prior to its expiration, and notwithstanding the provisions of this Agreement, only on account of a material breach of this Agreement by the Licensee. As used herein, the phrase MATERIAL BREACH shall mean:
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DEFAULT BY THE LICENSEE. 15.1 In any case where: (a) The annual Licence Fee or any other money payable to the Council under this licence has not been paid within 14 days of the due date for payment (time being of the essence); or (b) The Licensee shall be adjudged bankrupt or placed in receivership or be subject to a resolution or order for winding up; or (c) The Council is of the opinion that the Premises are not being used or sufficiently used for the Business Use; or (d) The Licensee is the subject of repeated complaints by users of the Course in relation to all or any of the matters listed in clause 8.2(b). (e) The Licensee consistently fails, over a period of not less than 12 months (except in circumstances of unanticipated Course closure for reasons beyond the control of the Licensee) to achieve the performance targets set by the annual plan and budget in accordance with clause 10.2(n). (f) The Licensee is in breach of any of the Licensee’s other obligations under this agreement and fails to remedy that breach within any reasonable period specified by the Council in a written notice requiring the remedy of the breach; THEN, it shall be lawful for the Council immediately, or at any time thereafter, without notice or further notice as the case may be by notice in writing to the Licensee to cancel this agreement in its entirety. The Licensee shall not however be released by such cancellation from liability to perform all of the Licensee’s obligations under this agreement up to the date of cancellation.
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Related to DEFAULT BY THE LICENSEE

  • Default by Buyer THE PARTIES HAVE AGREED THAT SELLER’S ACTUAL DAMAGES IN THE EVENT OF A FAILURE TO CONSUMMATE THE TRANSACTION DUE TO BUYER’S BREACH OF ITS OBLIGATIONS UNDER THIS AGREEMENT, TO THE EXTENT THAT SUCH BREACH WOULD CAUSE ANY OF THE CONDITIONS TO THE OBLIGATIONS OF SELLER AS PROVIDED IN THIS AGREEMENT TO FAIL TO BE SATISFIED, WOULD BE EXTREMELY DIFFICULT OR IMPRACTICABLE TO DETERMINE. AFTER NEGOTIATION, THE PARTIES HAVE AGREED THAT, CONSIDERING ALL THE CIRCUMSTANCES EXISTING ON THE DATE OF THIS AGREEMENT, THE AMOUNT OF THE OPTION FEE IS A REASONABLE ESTIMATE OF THE DAMAGES THAT SELLER WOULD INCUR IN THE EVENT OF BUYER’S BREACH OF ITS OBLIGATIONS UNDER THIS AGREEMENT TO THE EXTENT THAT SUCH BREACH WOULD CAUSE ANY OF THE CONDITIONS TO THE OBLIGATIONS OF SELLER AS PROVIDED IN THIS AGREEMENT TO FAIL TO BE SATISFIED. IN THE EVENT BUYER FAILS TO COMPLETE THE PURCHASE OF THE PURCHASED INTERESTS UPON THE SATISFACTION OF BUYER’S OBLIGATIONS SET FORTH IN THIS AGREEMENT, SELLER’S SOLE AND EXCLUSIVE REMEDY SHALL BE TO TERMINATE THIS AGREEMENT, IN WHICH EVENT THE OPTION FEE PAID BY BUYER UNDER THE OPTION AGREEMENT SHALL BE LIQUIDATED DAMAGES AND NEITHER PARTY SHALL HAVE ANY FURTHER RIGHTS OR OBLIGATIONS UNDER THIS AGREEMENT EXCEPT AS PROVIDED IN SECTION 9.6. THE PAYMENT OF SUCH AMOUNT AS LIQUIDATED DAMAGES IS NOT INTENDED AS A FORFEITURE OR A PENALTY, BUT IS INTENDED TO CONSTITUTE LIQUIDATED DAMAGES TO SELLER. BY PLACING THEIR INITIALS BELOW, EACH PARTY SPECIFICALLY CONFIRMS THE ACCURACY OF THE STATEMENTS MADE ABOVE AND THE FACT THAT EACH PARTY WAS REPRESENTED BY COUNSEL WHO EXPLAINED, AT THE TIME THIS AGREEMENT WAS MADE, THE CONSEQUENCES OF THIS LIQUIDATED DAMAGES PROVISION. THIS SECTION 7.1 IS NOT INTENDED TO LIMIT EITHER PARTY’S RIGHTS UNDER SECTION 9.2.

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