DEFAULT BY THE PARTIES Sample Clauses
DEFAULT BY THE PARTIES. 5.1 If either of the parties commits a breach or breaches of the AGREEMENT or any clause herein, the aggrieved party will, subject to the provisions of 5.3 below, be entitled to cancel the AGREEMENT, or alternatively to enforce the terms of the AGREEMENT.
5.2 Without limiting the generality of 5.1, the SELLER shall have the right to cancel this AGREEMENT and put the UNIT up for resale if;
5.2.1 Transfer of the UNIT is delayed by the PURCHASER for any reason whatsoever. If transfer of the UNIT is delayed by the PURCHASER and the SELLER does not exercise his right to cancel the AGREEMENT, then the PURCHASER shall be liable for OCCUPATIONAL.
5.2.2 The PURCHASER markets the UNIT as being for sale in any manner, by either placing advertisements or appointing an agent, or any other manner of marketing, before the UNIT is registered in the name of the PURCHASER. If the PURCHASER breaches the AGREEMENT in terms of this paragraph, the SELLER shall be entitled to cancel the AGREEMENT immediately, without same constituting a breach by the SELLER and without any notice to the PURCHASER. This clause 5.2.2 does not preclude the PURCHASER from advertising the UNIT as being for rent to potential tenants prior to the registration of the UNIT in the PURCHASER’s name.
5.3 It is specifically agreed that only the AGENT will be allowed to market and/or sell the UNIT in any way, before the registration of the UNIT into the name of the PURCHASER.
5.4 Should the SELLER elect to cancel the AGREEMENT, the SELLER shall be entitled, without prejudice to any other rights available to it, to claim damages, retain all such amounts paid as a genuine pre-estimate of damages as a result of such breach in which event the PURCHASER irrevocably consents and authorises, without any further notice required, the CONVEYANCER to pay the SELLER such monies paid by him/her in terms of this AGREEMENT and/or repossess the UNIT.
5.5 Save for the provisions of paragraph 5.2.2 above, if either of the parties commits a breach or breaches of any of the provisions of this AGREEMENT and fails to remedy the same within 5 (Five) days of delivery of a written notice to the breaching party’s chosen physical address, or sending of a notice to the breaching party’s chosen e-mail address, calling upon him/her to remedy the breach/es, then the aggrieved party may cancel this AGREEMENT or institute appropriate proceedings to enforce the AGREEMENT, in both circumstances, a claim for damages can be instituted by the agg...
DEFAULT BY THE PARTIES. In the event that one party hereto is in material breach of this Agreement, the other party may provide written notice of that breach, and will provide a cure period of not less than 15 days. In the event that the material breach continues beyond the 15 day cure period, the other party will have the right to terminate the Agreement by providing written notice of said termination.
DEFAULT BY THE PARTIES. In the event of default by either of the Parties, the non- defaulting Party has the right to terminate this Agreement, in whole or in part, for cause if the non-defaulting Party provides the defaulting Party with written notice of such default and the defaulting Party fails to cure such default to the satisfaction of the non-defaulting Party within thirty (30) business days of receipt of such notice (or a greater time if permitted by the non- defaulting Party). The termination of this Agreement for default shall extinguish all rights, duties, and obligations of the Parties to each other hereunder. The allegation of default shall not relieve either Party from its respective obligations hereunder until such time as this Agreement has been actually terminated as set forth herein.
DEFAULT BY THE PARTIES. Upon termination of this Agreement as a result of an uncured default by either of the Parties hereto pursuant to Section 5(b) above, any moneys received prior to such event by the Sellers shall be retained by the Sellers, and the Purchased Shares shall be allocated between Buyer and Sellers in proportion to the percentage of Payments that have been made. The Sellers shall receive back from Buyer the unpaid for Purchased Shares (pro rata in proportion to the relative amount sold as set forth in Exhibit A), and the parties shall notify the Authority of the allocation of Members Pipeline Capacity percentages resulting from such allocation. Buyer agrees to execute any documentation which may be required by the Authority to document the re-conveyance of the Purchased Shares and all related interests in the WISE project. If Buyer is in default, Buyer shall not receive any credit or refund for the costs or expenses paid by Buyer attributable to the use of the full Purchased Shares during the time prior to default. If Buyer has failed to make a payment required under this Agreement, Sellers may cure the default upon termination, but Buyer shall continue to be responsible to Sellers for any Late Fees or interest imposed by the Authority under the Organizational Agreement for late payment of costs. If Seller is in default, Buyer shall receive a refund for the costs and expenses paid by Buyer attributable to the use of the full Purchases Shares during the time of default but shall pay the pro-rated portion of such expenses based on the number of Purchased Shares it retains upon allocation of same after default per the above.
DEFAULT BY THE PARTIES. 15.1 Either party may terminate this Agreement immediately by providing a written notice to the other party if:
(i) either party had breached any term of this Agreement which (in the case of a breach capable of being remedied) shall not have been remedied within seven (7) days of a written request to remedy the same; and
(ii) either party had become insolvent, liquidated or bankrupt, has an administrator, receiver, liquidator appointed or ceases to continue business for any reason;
15.2 Upon termination, Clause 7 above shall apply.
15.3 This Clause 15 shall survive the termination and shall not be construed as waiver of rights for either Party against any liability whatsoever.
DEFAULT BY THE PARTIES. Except for default by reason of force majeure or upon a failure to pay amounts owed when due (in which event fifteen (15) days notice shall be required.) The defaulting party shall have forty-five (45) days from receipt of notice of default to cure any of the following events of default brought to its attention before the notifying party may immediately terminate this Agreement for cause as herein provided: The marketing party fails to provide proper user instructions, or misleading information to users pertaining to the products. The marketing party has forty-five (45) days from notification to correct the instructions and/or misinformation and to so notify customers and exert his best efforts to notify users that were not provided the correct information. It is the responsibility of the manufacture or supplying party of other critical components to establish the performance criteria. Either party becomes insolvent; or ceases to function as a going concern; or ceases to conduct its operation in the normal course of business; or a receiver for it or assignee for benefit of creditors is appointed; suffers an attachment or levy on a substantial portion of its assets; or files for relief under any bankruptcy, reorganization, liquidation or other insolvency proceeding; or it otherwise takes advantage of any insolvency law; or Either party breaches any other material provision of this Agreement.
DEFAULT BY THE PARTIES