Failure to Pay Costs Sample Clauses

Failure to Pay Costs. In the event any party fails to pay any sum due pursuant to this Agreement, each party expressly agrees to pay any and all costs, fees and expenses, including attorney fees, which may be incurred by the other party to enforce the terms of this Agreement.
Sample 1
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Failure to Pay Costs. If one or more Members defaults or fails to pay its required share of Commission Costs, the remaining Members will be required to assume this liability and pay for all or a portion of the obligations of the defaulting Member. The Water Supply Agreement will include procedures and remedies for Member nonpayment and the calculation of default shares. The Board of Commissioners may decide to establish a reserve fund to meet Commission obligations in the event that a Member is unable to make one or more payments on time. Use by the Commission of amounts from the reserve fund for this purpose does not excuse the Member that is unable to pay from its obligation to make all required payments with interest as established in the Water Supply Agreement.
Sample 1
Failure to Pay Costs. In the event Non-Operator fails to pay any cost due Operator under the terms of this Agreement within fifteen (15) days after receipt of the Operator’s statement therefor, the unpaid sum shall bear interest at the rate of 18% per annum. Non-Operator grants to Operator a security interest in and a lien upon Non-Operator’s ownership and interests in the proceeds of such oil and gas leases, the wxxxx situated thereon, and the oil and gas produced therefrom, the proceeds of such oil and gas, and all equipment, fixtures and personal property situated thereon, to secure the payment of Non-Operator’s share of costs and operating expenses of Non-Operator’s share of costs and operating expenses as herein defined, together with interest thereon. To the extent Operator has a security interest under the Uniform Commercial Code of the State of Illinois, Operator shall be entitled to exercise the rights and remedies of a secured party under the Code. The bringing of a suit and the obtaining of a Judgment by Operator for the secured indebtedness will not be deemed an election of remedies or otherwise affect the lien rights or security interest granted herein as security for the payment thereof. Any party, to the extent it deems necessary to perfect the lien and security interest provided herein, may file this Operating Agreement as a lien or mortgage in the applicable real estate records and as a Financing Statement with the proper officer under the Uniform Commercial Code. Further, and not in limitation of the foregoing, each party herein grants to operator full right, power and authority to execute in each party’s name and on its behalf, any financing statement which operator deems necessary in order to perfect the security interest hereby granted under the applicable Uniform Commercial Code. In addition, upon default by Non-Operator in the payment of his share of the expense, Non-Operator appoints and constitutes Operator as his attorney-in-fact, and Operator shall have the right, without prejudice to any other rights and remedies, to collect from the oil company purchasing the proceeds of production from the leasehold estate, the Non-Operator’s share of the oil and gas produced until the amount owned by such Operator, plus interest, has been paid. Each oil purchaser shall be entitled to rely upon Operator’s written statement concerning the amount of any default. This power of attorney shall be considered a Power coupled with an interest and irrevocable so long as any...
Sample 1

Related to Failure to Pay Costs

  • Undertaking to Pay Costs All parties to this Indenture agree, and each Holder of any Note by its acceptance thereof shall be deemed to have agreed, that any court may, in its discretion, require, in any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action taken or omitted by it as Trustee, the filing by any party litigant in such suit of an undertaking to pay the costs of such suit and that such court may in its discretion assess reasonable costs, including reasonable attorneys’ fees and expenses, against any party litigant in such suit, having due regard to the merits and good faith of the claims or defenses made by such party litigant; provided that the provisions of this Section 6.11 (to the extent permitted by law) shall not apply to any suit instituted by the Trustee, to any suit instituted by any Holder, or group of Holders, holding in the aggregate more than 10% in principal amount of the Notes at the time outstanding determined in accordance with Section 8.04, or to any suit instituted by any Holder for the enforcement of the payment of the principal of or accrued and unpaid interest, if any, on any Note (including, but not limited to, the Redemption Price and the Fundamental Change Repurchase Price, if applicable) on or after the due date expressed or provided for in such Note or to any suit for the enforcement of the right to convert any Note, or receive the consideration due upon conversion, in accordance with the provisions of Article 14.

  • Failure to Pay The Borrower fails to make a payment under this Agreement when due.

  • Failure to Pay Rent Any failure of Concessionaire to timely pay any rent due or any other monetary sums required to be paid hereunder where such failure continues for a period of ten (10) consecutive days after such sums are due.

  • Failure to Pay Insurance If any Borrower fails to obtain insurance as hereinabove provided, or to keep the same in force, Agent, if Agent so elects, may obtain such insurance and pay the premium therefor on behalf of such Borrower, and charge Borrowers’ Account therefor as a Revolving Advance of a Domestic Rate Loan and such expenses so paid shall be part of the Obligations.

  • Mandatory Costs If any Lender or the L/C Issuer incurs any Mandatory Costs attributable to the Obligations, then from time to time the Borrower will pay to such Lender or the L/C Issuer, as the case may be, such Mandatory Costs. Such amount shall be expressed as a percentage rate per annum and shall be payable on the full amount of the applicable Obligations.

  • Payment of Debts, Taxes, Etc The Company shall pay, or cause to be paid, all of its indebtedness and other liabilities and perform, or cause to be performed, all of its obligations in accordance with the respective terms thereof, and pay and discharge, or cause to be paid or discharged, all taxes, assessments and other governmental charges and levies imposed upon it, upon any of its assets and properties on or before the last day on which the same may be paid without penalty, as well as pay all other lawful claims (whether for services, labor, materials, supplies or otherwise) as and when due

  • Termination for Failure to Pay If Company fails to make any payment due hereunder, Hospital shall have the right to terminate this Agreement upon ten (10) business days written notice, unless Company makes such payments plus any interest due, as set forth in Section 4.7, within said ten (10) day notice period. If payments are not made, Hospital may immediately terminate this Agreement at the end of said ten (10) day period. Company shall be entitled to only one such cure period in a calendar year; for a second failure to make payment on time, Hospital shall have the right to terminate this Agreement immediately upon written notice.

  • Additional Expenses to be inserted if applicable.

  • Disbursements to Contractors to Pay Costs of the Project The Recipient shall require that as work on the Project and as specified in its contract is performed a Contractor shall promptly submit a detailed project specific invoice to the Project Manager. Within three (3) Business Days following receipt of such invoice from a Contractor, the Project Manager shall review the invoice and, if found to be accurate, shall so certify in writing, forwarding such certification together with a copy of the invoice to the Chief Fiscal Officer. Within five (5) Business Days following receipt of such invoice and certification from the Project Manager, the Chief Fiscal Officer shall conduct such reviews as he considers appropriate and, if he approves such invoice, shall submit to the Director a Disbursement Request together with the information and certifications required by this Section 6(b). The dollar amount set forth in the Disbursement Request shall be calculated based on the Participation Percentage as set forth originally in Appendix D of this Agreement or as may be adjusted from time to time to account for changed conditions in the project financing scheme. Within five (5) Business Days following receipt of the Disbursement Request and all required information and certifications, the Director shall, if such items are deemed by the Director to be accurate and completed, initiate a voucher in accordance with applicable State requirements for the payment of the amount set forth in the Disbursement Request. Upon receipt of a warrant from the Auditor of State drawn in connection with a voucher initiated in accordance with the terms of the preceding sentence, the Director shall forward it by regular first class United States mail or electronic funds transfer, to the contractor or other authorized recipient designated in the Disbursement Request. Prior to any disbursement from the Fund, the following documents shall be submitted to the Director by the Recipient: (i) If the request is for disbursement to a Contractor, an invoice submitted to the Recipient by the Contractor which invoice requests payment of such sums in connection with its performance of the Project; (ii) If the request is for disbursement to the Recipient pursuant to Paragraph (A)(4)(b) of Rule 164-1-22 of the Administrative Code, a xxxx of sale, paid invoice or other evidence satisfactory to the Director that payment of such sums has been made by the Recipient in connection with the portion of the Project for which payment is requested; (iii) The Project Manager's certification pursuant to Section 6(b) of this Agreement; (iv) The Disbursement Request Form and Certification in the form set forth as Appendix E of this Agreement properly executed by the Chief Fiscal Officer and the Chief Executive Officer; and (v) Such other certificates, documents and other information as the Director may reasonably require. If the Director finds that the documents are in compliance with the requirements of this Agreement, the Director is authorized and directed to cause the disbursement of moneys from the Fund for payment of the identified Project costs. A copy of all such documents submitted to the Director shall be retained by the Director. The Recipient represents that the Project was initially constructed, installed or acquired by the Recipient no earlier than the execution date of this Agreement.

  • Increased Costs Break Funding Payments Taxes Illegality Section 5.01 Increased Costs 39 Section 5.02 Break Funding Payments 40 Section 5.03 Taxes 40 Section 5.04 Mitigation Obligations; Replacement of Lenders 43 Section 5.05 Illegality 44

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