Default in Acceptance Sample Clauses

Default in Acceptance. 6.1 Customer shall be considered to have defaulted on the acceptance if it does not pick up the goods or cause their shipment within two weeks after it has been notified of the completion or the readiness of the goods. Once a default in acceptance occurs the risk of accidental deterioration or accidental loss shall pass to Customer. 6.2 If Customer defaults on acceptance Xxxxx shall also be entitled to demand compensation of the damages it suffers, including but not limited to any warehouse costs incurred by Xxxxx. Four weeks after the notice of readiness for pick-up Xxxxx also reserves the right to store the goods elsewhere at Customer's expense.
AutoNDA by SimpleDocs
Default in Acceptance. (i) If Party A refuses or delays to accept any deliverables without any justifiable cause, which causes such deliverables are lawfully acquired by any third party, or the practical value of such deliverables is lost in its novelty, or such deliverables are damaged or lost by accident, Party A shall be liable for such damage or loss and pay the compensation to Party B in accordance with the terms and conditions of this Contract. Party B is not liable for such damage or loss. (ii) If Party A fails to provide effective cooperation or conduct acceptance on time according to Party B’s requirements, Party B’s performance of its obligations regarding delivery and subsequent development plan shall be postponed accordingly. If Party A fails to do so for more than 20 days, Party B may terminate this Contract. Party A shall reimburse all costs and expenses incurred by Party B for performance of this Contract, and pay doubled damages to Party B.
Default in Acceptance. If the acceptance can not be conducted or is become impossible before the deadline stipulated hereunder due to any reason of Party B, Party A may demand Party B to pay indemnity as per the specific circumstances. If Party B can not perform this Contract or any part hereof due to whatever reason, all costs and expenses incurred shall be borne by Party B. (i) If Party B fails to complete the development of the Project within the time period stipulated herein, it may submit a written application to Party A for a grace period (including the length of such period). If the application is approved by Party A, the acceptance shall be conducted on the new date agreed upon by the parties, and the losses suffered by Party A may be confirmed by the parties in form of a supplementary agreement. (ii) If Party B fails to complete the development of the whole system within the time period of acceptance prescribed in this Contract, either of: (a) Party B fails to give a written notice to Party A about the reason and date of the grace period; or (b) Party B fails to complete the development of the subject technology within the grace period approved by Party A, and Party B fails to do so for 20 business days, Party A may terminate this Contract. In that case, all costs and expenses incurred shall be borne by Party B, and Party A may continue to claim damages and losses against Party B.
Default in Acceptance. 11.1. If the customer is in default of acceptance for more than 4 weeks (refusal of acceptance, default in advance payments or otherwise, no call within a reasonable time for order on call), and despite setting a reasonable grace period, the customer has not taken care of the elimination of the circumstances attributable to him, which the If the contract is in place, we may otherwise dispose of the equipment and materials specified for the performance of the service, provided that, in the event of the performance of the service being continued, we procure these within a period appropriate to the respective circumstances. 11.2. If the customer is in default of acceptance, we are also entitled to store the goods with us if the contract is to be fulfilled, for which we are entitled to a storage fee in accordance with Section 9.4. 11.3. In the event of a justified withdrawal from the contract, we are entitled to demand flat-rate compensation of 25% of the gross order value from the customer without proof of the actual damage. 11.4. The assertion of higher damages is permissible.
Default in Acceptance. If the subject of the contract is made available and not accepted in accordance with the terms of the contract, the supplier can claim for damages instead of completing the contract after granting an appropriate period of grace. In the event of the return or non-acceptance of mass-produced articles by the party ordering, we shall charge a flat-rate sum of 15 % of the order value to cover administrative expenses and lost profit in addition to the costs incurred, the value of which must be recorded precisely by the supplier. If the party ordering exchanges mass-produced articles or other products included in our range for goods of equal value, we shall charge 5 % on the purchase price for the use of the supplier’s services. A return is only possible if the goods are in a resalable condition. If any other goods (in particular customized goods) are exchanged, the party ordering must carry the full extent of any loss incurred in the reutilization process after offsetting the flat-rate charge. Consumers are entitled to prove that no damage was incurred or that the damage was less than the estimated flat rate.

Related to Default in Acceptance

  • Default in Payment Any payment not made within ten (10) business days after it is due in accordance with this Agreement shall thereafter bear interest, compounded annually, at the prime rate in effect from time to time at Citibank, N.A., or any successor thereto. Such interest shall be payable at the same time as the corresponding payment is payable.

  • Default in Payment of Principal of Loans and Reimbursement Obligations The Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and as due (whether at maturity, by reason of acceleration or otherwise).

  • Default in Performance (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.4.(h) or Article IX.; or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

  • Default in Other Agreements (i) Failure by Holdings, the Borrower or any of its Restricted Subsidiaries to pay when due any principal of or interest on or any other amount payable in respect of one or more items of Indebtedness (other than Indebtedness referred to in clause (a) above) with an aggregate outstanding principal amount exceeding the Threshold Amount, in each case beyond the grace period, if any, provided therefor; or (ii) breach or default by Holdings, the Borrower or any of its Restricted Subsidiaries with respect to any other term of (A) one or more items of Indebtedness with an aggregate outstanding principal amount exceeding the Threshold Amount or (B) any loan agreement, mortgage, indenture or other agreement relating to such item(s) of Indebtedness (other than, for the avoidance of doubt, with respect to Indebtedness consisting of Hedging Obligations, termination events or equivalent events pursuant to the terms of the relevant Hedge Agreement which are not the result of any default thereunder by any Loan Party or any Restricted Subsidiary), in each case beyond the grace period, if any, provided therefor, if the effect of such breach or default is to cause, or to permit the holder or holders of such Indebtedness (or a trustee or agent on behalf of such holder or holders) to cause, such Indebtedness to become or be declared due and payable (or redeemable) prior to its stated maturity or the stated maturity of any underlying obligation, as the case may be; provided that clause (ii) of this paragraph (b) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer of the property securing such Indebtedness if such sale or transfer is permitted hereunder; provided, further, that any failure described under clauses (i) or (ii) above is unremedied and is not waived by the holders of such Indebtedness prior to any termination of the Commitments or acceleration of the Loans pursuant to this Article VII; or

  • Compounding of default interest Any such interest which is not paid at the end of the period by reference to which it was determined shall thereupon be compounded.

  • Mandatory Prepayment Upon an Acceleration If the Term Loan Advances are accelerated by Bank following the occurrence and during the continuance of an Event of Default, Borrower shall immediately pay to Bank an amount equal to the sum of (i) all outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advances, (ii) the Prepayment Fee, (iii) the Final Payment, and (iv) all other sums, if any, that shall have become due and payable with respect to the Term Loan Advances, including interest at the Default Rate with respect to any past due amounts.

  • Conditions for voluntary prepayment The conditions referred to in Clause 7.4 are that: (a) a partial prepayment shall be $500,000 or a multiple of $500,000; (b) the Lender has received from the Borrowers at least 5 days' prior written notice specifying the amount to be prepaid and the date on which the prepayment is to be made; and (c) the Borrowers have provided evidence satisfactory to the Lender that any consent required by any Borrower or any Security Party in connection with the prepayment has been obtained and remains in force, and that any regulation relevant to this Agreement which affects any Borrower or any Security Party has been complied with.

  • Permitted Prepayment Borrower shall have the option to prepay all, but not less than all, of the Term Loan Advances, provided Borrower (i) delivers written notice to Bank of its election to prepay the Term Loan Advances at least ten (10) days prior to such prepayment, and (ii) pays, on the date of such prepayment (A) the outstanding principal plus accrued and unpaid interest with respect to the Term Loan Advances, (B) the Final Payment, (C) the Prepayment Fee, and (D) all other sums, if any, that shall have become due and payable with respect to the Term Loan Advances, including interest at the Default Rate with respect to any past due amounts.

  • Application of Voluntary Prepayments by Type of Loans Any prepayment of any Loan pursuant to Section 2.13(a) shall be applied as specified by the Borrower in the applicable notice of prepayment; provided, that in the event the Borrower fails to specify the Loans to which any such prepayment shall be applied, such prepayment shall be applied as follows:

  • Payment of default interest on overdue amounts The Borrower shall pay interest in accordance with the following provisions of this Clause 7 on any amount payable by the Borrower under any Finance Document which the Agent, the Security Trustee or the other designated payee does not receive on or before the relevant date, that is: (a) the date on which the Finance Documents provide that such amount is due for payment; or (b) if a Finance Document provides that such amount is payable on demand, the date on which the demand is served; or (c) if such amount has become immediately due and payable under Clause 19.4, the date on which it became immediately due and payable.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!