DEFAULTS IN PAYMENT. Should any installment of charter fees not be paid on the date designated, the CHARTERER will be advised in writing and will have 14 days to pay balances due. If the default continues thereafter, the OWNER shall be so be advised by the BROKER, and the OWNER shall have the right to cancel this Agreement without prejudice to his rights in respect of any arrears of charter money, or of any breach by the CHARTERER of the conditions contained herein.
DEFAULTS IN PAYMENT. Default shall have occurred in case of failure to make payment of EMIs/ PEMIs and/ or Interest and/ or in payment of any other amounts due and payable to the Lender in terms of this Agreement and/ or in terms of any other Agreement/s, Loan Documents, Security Documents that may be subsisting or that may be executed between the Borrower and the Lender hereafter.
DEFAULTS IN PAYMENT. (a) The Partnership shall be entitled to enforce the obligations of each Partner to make contributions to capital set forth in Section 3.3 and the Partnership shall have all remedies available at law or in equity in the event any such contribution is not so made.
(b) In the event that any Limited Partner (other than a Limited Partner who is excused or excluded from an investment pursuant to Section 3.4) fails to make a Capital Contribution (including any Capital Contribution to pay the Management Fee or to any Alternative Vehicle or Parallel Regulatory Vehicle) when required, and such Limited Partner shall not have rectified such failure within five (5) Business Days of receipt of written notice of such failure from the General Partner (a "Defaulting Partner"), then the General Partner may, in its sole discretion, elect to charge such Limited Partner interest at an annual rate equal to LIBOR plus 6% (not to exceed the highest rate permitted by applicable law) on the amount due from the date such amount became due until the earlier of (i) the date on which such payment is received by the Partnership or (ii) the date of any notice given to such Defaulting Partner by the General Partner pursuant to Sections 3.7(c), 3.7(d) or 3.7(e), plus out-of- pocket legal and collection costs (with such interest and costs to be treated as income of or reimbursement to the Partnership, and not as a Capital Contribution). The amount charged as provided in this Section 3.7(b) shall not exceed the amount of such Defaulting Partner's Capital Account.
(c) In addition to the other rights provided in this Section 3.7 and to the extent not inconsistent with such other rights, the General Partner may, in its sole discretion, elect to declare, by notice to a Defaulting Partner, that:
(i) Such Defaulting Partner's Capital Commitment shall be deemed to be reduced to the amount of any contributions of capital timely made pursuant to Section 3.3 or
DEFAULTS IN PAYMENT. In the event of default in the payment for Services rendered or expenses incurred by PYRAMID for Client, pursuant to this Agreement, Client shall be responsible for all collection fees and expenses incurred by PYRAMID, including attorneys’ fees. In the event of default in the reimbursement for Service fees or Client Materials to Client by PYRAMID, pursuant to this Agreement, PYRAMID shall be responsible for all collection fees and expenses incurred by Client, including attorneys’ fees. Document No: Revision: Revision Date: Replaces: Page: MSA-XPI 00 05/01/18 NA 10 of 27
DEFAULTS IN PAYMENT. 12.1 Time is expressly declared to be the essence of this agreement.
12.2 Notwithstanding anything herein contained, in case the Allottee/ Purchaser commits default in performing and observing covenants/obligations herein including those for payment then and in such an event, a notice for demand shall be issued specifying the time which shall not exceed 60 days from the due date and if the said payment is not received within the time specified in the notice then this agreement shall stand terminated at the discretion of the Promoter/Developer and in such event all rights and claims of the Allottee/Purchaser against the Owners and Promoter/Developer and/or the said Apartment shall stand extinguished.
12.3 In case of termination and/or cancellation of this Agreement, the Promoter/Developer shall forfeit the booking amount of the total purchase price of the said Apartment and 10% of the consideration amount and interest as per applicable laws and brokerage paid if any as liquidated damages and the applicable GST payable on such Cancellation Charges and refund to the Allottee/Purchaser the entire balance amount paid by the Allottee/Purchaser without any interest. Provided however the Promoter/Developer shall refund the said balance amount subject to sale of the said Apartment to the Third Party and realization of the sale proceeds thereof. Provided however it is made clear that the Allottee/Purchaser shall be at liberty to apply for refund of the GST and other taxes and Promoter/Developer shall not be liable for the refund of the same.
12.4 For the period of late payment or in case the Promoter/Developer condones the default of the Allottee/Purchaser even for a period more than the stipulated grace period provided in the notice then and in such event, the Allottee/Purchaser shall along with such dues and/or arrears, pay interest @ 2% per annum over and above Prime Lending Rate fixed by State Bank of India for the period of default on all amounts remaining unpaid. Any condonation granted by the Promoter/Developer shall not amount to waiver of the future defaults or breaches.
12.5 In case of Delay on part of the Promoter/Developer to complete the construction of the said Apartment within the stipulated time as stated herein above, then the Promoter/Developer shall pay interest @ 2% per annum over and above Prime Lending Rate fixed by State Bank of India for the delay in construction subject to however Force Majeure.
12.6 In case of Delay on part of the Promoter/...
DEFAULTS IN PAYMENT. Should any sums due under this Agreement not be paid when due, the CHARTERER shall immediately be notified by the Owner via the BROKER in writing, and should the CHARTERER not rectify the failure within 7 days of such notice, the OWNER shall have the right to cancel this Agreement without prejudice to his rights in respect of any arrears of charter fees, or of any breach by the CHARTERER of this Agreement. If CHARTERER defaults in payments, for reason other than related to a dispute, previous payments are non-refundable.
DEFAULTS IN PAYMENT xX NOTICE OF DEFAULT If any Party including the Operator (herein called the "Defaulting Party") fails to make any payment as required by this Agreement or by any of the other Joint Venture Documents on or before the due date thereof, the Operator shall upon becoming aware of such failure give notice by telex cable or telegram of such failure to the Defaulting Party. If at the expiration of two (2) days after the receipt or deemed receipt of such notice by the Defaulting Party payment of the amount due by the Defaulting Party remains unpaid the Operator shall thereupon give a notice of the default to all Parties.
