Common use of Delay or Default Clause in Contracts

Delay or Default. 24.1. Failure to fulfil in a duly, complete and proper manner any duty, obligation, agreement, covenant, representation or warranty under the terms of this Agreement, attributable to a Party, is deemed to be a Delay or Default by such Party. 24.2. Apart from other consequences set forth in the Agreement, a penalty is fixed in favor of SODECIA for a daily amount indicated in the SC (the “Delay Penalty”), notwithstanding to the right to higher compensation for damages and losses actually suffered. 24.3. Notwithstanding the Delay Penalty or the provisions in the preceding points, in case of any Delay, SODECIA reserves the right to execute or instruct a third party to execute any actions that SODECIA deems, at its sole discretion, to reduce damages or any consequences arising from or related to such Delay. 24.4. The Delay Penalty is warranted even if SODECIA claims any other compensation, deems the service as being definitively unfulfilled or terminates the Agreement, in the latter case being calculated up to the date of the definitive unfulfillment or the date of the Agreement termination. 24.5. Delay by SODECIA to pay, in whole or in part, the Price as per the SC, in excess of 30 (thirty) days shall grant the SUPPLIER the right to claim for interest rate over the overdue amount. 24.6. SUPPLIER shall not withhold performance of its obligations, nor exercise any right of retention upon occurrence of a Delay by SODECIA.

Delay or Default. 24.1. Failure to fulfil in a duly, complete and proper manner any duty, obligation, agreement, covenant, representation or warranty under the terms of this Agreement, attributable to a Party, is deemed to be a Delay or Default by such Party. 24.2. Apart from other consequences set forth in the Agreement, a penalty is fixed in favor of SODECIA for a daily amount indicated in the SC (the “Delay Penalty”), notwithstanding to the right to higher compensation for damages and losses actually suffered. 24.3. Notwithstanding the Delay Penalty or and the provisions in the preceding points, in case of any Delay, SODECIA reserves the right to execute or instruct a third party to execute any actions that SODECIA deems, at its sole discretion, to reduce damages or any consequences arising from or related to such Delay. XXXXXXX must inform supplier in advance. 24.4. The Delay Penalty is warranted even if SODECIA claims any other compensation, deems the service as being definitively unfulfilled or terminates the Agreement, in the latter case being calculated up to the date of the definitive unfulfillment or the date of the Agreement termination. 24.5. Delay by SODECIA to pay, in whole or in part, the Price as per the SC, in excess of 30 (thirty) days shall grant the SUPPLIER the right to claim for interest rate over the overdue amount. 24.6. SUPPLIER shall not withhold performance of its obligations, nor exercise any right of retention upon occurrence of a Delay by SODECIA.

Delay or Default. 24.116.1. Failure to fulfil in a duly, complete and proper manner any duty, obligation, agreement, covenant, representation or warranty under the terms of this Agreement, attributable to a Party, Party is deemed to be a Delay or Default by such Party. 24.216.2. Apart from other consequences set forth in the Agreement, a penalty is fixed in favor of SODECIA for a daily amount indicated equivalent to 0,5% of the price of the Parts in the SC delay (the “Delay Penalty”), notwithstanding to the right to higher compensation for damages and losses actually suffered. 24.316.3. Notwithstanding the Delay Penalty or Penalty, the provisions in the preceding points, in case of any Delay, SODECIA reserves the right to execute or instruct a third party to execute any actions that SODECIA deems, at its sole discretion, to reduce damages or any consequences arising from or related to such Delay. SODECIA must inform Supplier in advance. 24.416.4. The Delay Penalty is warranted even if SODECIA claims any other compensation, deems the service as being definitively unfulfilled or terminates the Agreement, in the latter case being calculated up to the date of the definitive unfulfillment un-fulfillment or the date of the Agreement termination. 24.516.5. Delay by SODECIA to pay, in whole or in part, the Price as per the SC, in excess of 30 (thirty) days shall grant the SUPPLIER the right to claim for interest rate over the overdue amount. 24.616.6. SUPPLIER shall not withhold performance of its obligations, nor exercise any right of retention upon occurrence of a Delay by SODECIA.