Failure to Meet Material Obligations Sample Clauses

Failure to Meet Material Obligations. Except as otherwise expressly set out in this Article 13, if a Party fails to perform fully any material provision of this Agreement and either (a) such failure continues for a period of sixty (60) days after written notice of such nonperformance or (b) if the Defaulting Party commences an action to cure such failure to perform within such sixty (60-) day period, and thereafter proceeds with all due diligence to cure such failure, and such failure is not cured within sixty (60) days after the expiration of the initial sixty (60)-day period.
Sample 1Sample 2Sample 3See All (9)
AutoNDA by SimpleDocs
Failure to Meet Material Obligations. Any failure by a party to perform or comply with any other material term or covenant contained herein, provided that such failure continues for twenty (20) Business Days after notice to the breaching party demanding that such failure to perform be cured, provided however, if such failure cannot reasonably be cured within such thirty (30) day period, the breaching Party shall not be in default hereunder if breaching Party commences efforts to cure such failure within such thirty (30) day period and diligently pursues those efforts to completion.
Sample 1
Failure to Meet Material Obligations. In the event that Nordion fails to meet one or more of the material obligations under this Agreement (except to the extent caused by Corixa or its agents during the term hereof) or Corixa determines that Nordion will not be able to meet one or more of the material obligations, Nordion and Corixa shall immediately meet to discuss the matter in good faith. At such meeting, Nordion shall provide Corixa with its best estimate as to when it will be able to meet such obligations. Unless Nordion is able to provide Corixa with reasonable assurances, within [*] of such meeting, that such material obligations will be met, [*] following the notice and remedial period (if such obligations remain unremedied) contained in Section 11.4. Nothing in this Section 4.1 shall be read to limit any of Corixa's rights under Section 6 or otherwise. [*].
Sample 1
Failure to Meet Material Obligations. In the event that Nordion fails to meet one or more of the material obligations under this Agreement (except to the extent caused by Corixa or its agents during the term hereof) or Corixa determines that Nordion will not be able to meet one or more of the material obligations, Nordion and Corixa shall immediately meet to discuss the matter in good faith. At such meeting, Nordion shall provide Corixa with its best estimate as to when it will be able to meet such obligations. Unless Nordion is able to provide Corixa with reasonable assurances, within one (1) week of the date of such meeting, that such material obligations will be met, Corixa may terminate this Agreement for breach following the notice and remedial period (if such obligations remain unremedied) contained in Section 11.4. Nothing in this Section 4.1 shall be read to limit any of Corixa's rights under Section 6 or otherwise. Material obligations shall include, but not be limited to, (i) maintaining appropriate documentation of all production and shipping activities under this Agreement; (ii) tracing shipments not delivered as requested; (iii) complying with all regulatory requirements, including without limitation, cGMP; and (iv) complying on a timely basis with all requests from any governmental entity in the Territory regarding inspections and other activities associated with the Nordion Site in connection with Corixa being able to obtain and maintain registration of the Labeled Drug.
Sample 1

Related to Failure to Meet Material Obligations

  • Other Material Obligations Default in the payment when due, or in the performance or observance of, any material obligation of, or condition agreed to by, any Loan Party with respect to any material purchase or lease of goods or services where such default, singly or in the aggregate with all other such defaults, might reasonably be expected to have a Material Adverse Effect.

  • Financial Obligations There will be no transfer of funds between the Parties under this Agreement and each Party will fund its own participation. All activities under or pursuant to this Agreement are subject to the availability of funds, and no provision of this Agreement shall be interpreted to require obligation or payment of funds in violation of the Anti-Deficiency Act, (31 U.S.C. § 1341).

  • Breach of other obligations any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

  • Failure to Perform In the event of a failure of performance due under this Agreement and if it becomes necessary for either party to undertake legal action against the other on account thereof, then the prevailing party shall be entitled to reasonable attorney’s fees in addition to costs and necessary disbursements.

  • No Material Defaults Neither the Company nor any of the Subsidiaries has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect. The Company has not filed a report pursuant to Section 13(a) or 15(d) of the Exchange Act since the filing of its last Annual Report on Form 10-K, indicating that it (i) has failed to pay any dividend or sinking fund installment on preferred stock or (ii) has defaulted on any installment on indebtedness for borrowed money or on any rental on one or more long-term leases, which defaults, individually or in the aggregate, would reasonably be expected to have a Material Adverse Effect.

  • Material Contract Defaults The Company is not, or has not received any notice or has any knowledge that any other party is, in default in any respect under any Material Contract; and there has not occurred any event that with the lapse of time or the giving of notice or both would constitute such a material default. For purposes of this Agreement, a “Material Contract” means any contract, agreement or commitment that is effective as of the Closing Date to which the Company is a party (i) with expected receipts or expenditures in excess of $50,000, (ii) requiring the Company to indemnify any person, (iii) granting exclusive rights to any party, (iv) evidencing indebtedness for borrowed or loaned money in excess of $50,000 or more, including guarantees of such indebtedness, or (v) which, if breached by the Company in such a manner would (A) permit any other party to cancel or terminate the same (with or without notice of passage of time) or (B) provide a basis for any other party to claim money damages (either individually or in the aggregate with all other such claims under that contract) from the Company or (C) give rise to a right of acceleration of any material obligation or loss of any material benefit under any such contract, agreement or commitment.

  • No Financial Obligation No provision of this Escrow Agreement shall require the Escrow Agent to risk or advance its own funds or otherwise incur any financial liability or potential financial liability in the performance of its duties or the exercise of its rights under this Escrow Agreement.

  • No Breach of Material Contracts The Target has performed all of the material obligations required to be performed by it and is entitled to all benefits under, and is not alleged to be in default in respect of any contract, except where the failure to so perform or the failure to be entitled to all benefits or such default would not have a Material Adverse Effect on Target. Each of the Material Contracts is in full force and effect, and there exists no default or event of default or event, occurrence, condition or act, with respect to Target or to Target's knowledge with respect to the other contracting party, or otherwise that, with or without the giving of notice, the lapse of the time or the happening of any other event or conditions, could reasonably be expected to (A) become a default or event of default under any Material Contract, which default or event of default could reasonably be expected to have a Material Adverse Effect on Target or (B) result in the loss or expiration of any material right or option by Target (or the gain thereof by any third party) under any Material Contract or (C) result in the release, disclosure or delivery to any third party of any part of the Source Materials (as defined in Section 2.26(m)). True, correct and complete copies of all Material Contracts have been made available or delivered to the Acquiror.

Time is Money Join Law Insider Premium to draft better contracts faster.