Default of Obligations. All xxxxxxxx are payable upon presentation. When any tenant, user, or grantee notwithstanding his lease is formally notified that he is held in default of any written or implied obligation to the Airport Manager, whether it be for breach of performance or service covenants or non-payment, he shall there after be billed for all losses of revenue, expenses incurred to reestablish performance or service and other costs unless the tenant, user or grantee files with the Airport Manager within ten (10) days of receipt of the formal notification a statement that corrective or preventative measures have been initiated and will diligently be carried to completion. If the premises contained in the statement are not fulfilled, the tenant, user, or grantee will be considered in absolute default and appropriate lawful steps shall be taken by the Airport Manager.
Default of Obligations. The Agreement, including this Addendum, shall be subject to cancellation in accordance with Article XXIII of the Agreement upon the occurrence of an Event of Default as set forth therein if such Event of Default is not cured or corrected within the periods prescribed; provided, however, a cancellation by either Party based on a default not related to the delivery or supply of Cigarette Papers, including Banded Cigarette Papers, shall not result in a right of cancellation of the Parties' obligations with respect to Banded Cigarette Papers as set forth in this Addendum. The following additional Events of Default shall be applicable with respect to this Addendum:
Default of Obligations. A). The parties shall be entitled to issue the rescission of this Agreement (the “Notice of Rescission”) in the event of non-compliance with any of the obligations entered into herein. In the event of default of obligations, the affected party shall deliver to the address of the defaulting party, as set out hereunder, a notice of default of obligations (the “Notice of Default”) and it shall grant to the defaulting party thereon a term of thirty (30) calendar days, commencing on the date of receipt of the Notice of Default, to comply with any and all of the defaulting obligations. The aforesaid notice may be made by any type of delivering service or courier with acknowledgment of receipt. The date that is shown in such acknowledgment of receipt shall be deemed as the commencement of the above term of fifteen days.
Default of Obligations. 8.1 In the event that any funding provided pursuant to this Letter of Intent has been used for purposes other than those dictated hereunder, any and all funding provided pursuant hereto is subject to repayment by the Municipalities at the sole discretion and on such terms and conditions set by the Province, and any future funding dictated by the terms of this Letter of Intent may also be terminated by the Province at its sole discretion.
Default of Obligations. Failure by the Lessee to perform any material duty or obligation arising under the provisions of this Lease Agreement may be cause for termination of the lease.
Default of Obligations. With the exception of such obligations that have a specific event of default stipulated in this Clause, if the Borrower fails to comply with:
Default of Obligations. Subject to the provisions of Section 10.3 below, in the event of a default of Obligations (a “Obligation Default”), of one of the Parties or any of its subsidiaries, affiliates, employees or legal representatives (but excluding employees or legal representatives of the Parties who are permanently on the payroll of SETA or GACN in respect of the Obligations) (each a “Defaulting Party”), such Defaulting Party shall solely bear the consequences of the Obligation Default, including any costs, expenses and direct damages incurred by the other Party arising from such Obligation Default, excluding indirect or consequential damages.
Default of Obligations. If the Borrower defaults in any of its obligations under this Agreement (other than those whose default is set forth in this Clause 6.01) and such default is not cured within 10 (ten) Business Days following the existence of such default; or
Default of Obligations. The parties shall be entitled to issue the rescission of this Agreement (the “Notice of Rescission”) in the event of non-compliance with any of the obligations entered into herein in accordance with the following:
Default of Obligations. (1) If the Seller does not at all deliver or partially delivers the quantity as in the harmonized HSS and is not released from its obligations in the event of Force Majeure, as specified in Section VII of the Agreement, or due to the default of Buyer’s obligations, the Seller shall pay to the Buyer the amount of undelivered electricity equal to the difference between the accepted price of the harmonized HSS and the higher price at which the Buyer is able or will be able to buy or otherwise take over the undelivered electricity in the market, while acting in a commercially reasonable manner, increased by the variable costs for electricity transmission and any other reasonable and documented expenses. The possibility of compensation for loss of earnings, indirect or consequential damages shall be expressly excluded.
