Financial Default. If default shall be made in the due and punctual payment of Base Rent, Variable Rent, Escrow Deposits, or any payment of Additional Rent required to be made by Tenant under the terms of this Lease Agreement, and such default shall continue for a period of five (5) business days after Tenant's receipt of written notice from Landlord specifying such default.
Financial Default. (a) If a Financial Default occurs, the non-defaulting party may, without prejudice to any other right, suspend its obligations under any or all of the Transactions entered into under this Agreement and give a notice (Financial Default Notice) to the defaulting party specifying the Financial Default and giving the defaulting party 10 Business Days (Financial Cure Period) from the date of the Financial Default Notice to remedy the Financial Default.
(b) On receipt of the Financial Default Notice, the defaulting party must remedy the Financial Default within the Financial Cure Period.
(c) The non-defaulting party may set off any unpaid amount against any payments that the non-defaulting party is required to make to the defaulting party under this Agreement.
(d) If the Financial Default is not remedied within the Financial Cure Period then the non- defaulting party may, without prejudice to any other right, do any one or more of the following:
(1) xxx for breach of contract;
(2) suspend its obligations under any or all of the Transactions entered into under this Agreement (to the extent it has not already done so pursuant to clause 7.1(a)); and
(3) terminate this Agreement with immediate effect by giving a notice to the defaulting party.
(e) Notwithstanding the other provisions of this clause 7.1, if the Financial Default is an Insolvency Event, the non-defaulting party shall have no obligation to provide a Financial Default Notice, the defaulting party shall have no right to remedy the Insolvency Event within the Financial Cure Period and the non-defaulting party may immediately exercise any or all of the rights described in clause 7.1(d).
Financial Default. If SITA does not pay any amount payable by it under this agreement within seven days of its due date, it must pay interest on that amount on demand by Council, from the due date for payment until it is paid. The interest rate to be applied to late payments is set at 1% above the Base Rate at the time the amount payable became due. Interest under this clause is calculated on daily balances.
Financial Default. (a) Without prejudice to any other right or remedy of Change Energy under this Agreement or any Law, if the Buyer commits a Financial Default Change Energy may send the Buyer written notice requesting the Buyer to remedy the Financial Default within 2 Business Days of the date of the notice.
(b) If the Financial Default Notice is not remedied within this period, Change Energy may:
(i) revise the frequency for the issuing and payment of the Tax Invoice under clause 7;
(ii) interrupt or limit the supply of electricity to the Buyer at the Site;
(iii) cause or allow the Buyer’s Site to be disconnected from the Network (in which case the Buyer must pay any costs incurred by Change Energy with respect to the disconnection of the Buyer’s Site from the Network);
(iv) refer the debt to a debt collection agency for collection (in which case the Buyer must pay any costs incurred by Change Energy with respect to the recovery of the debt, including the debt collection agency’s fee and legal costs); or
(v) whether or not it has exercised all or any of its rights under clauses 10.1(b)(i) to 10.1(b)(iv), immediately terminate this Agreement by written notice to the Buyer.
(c) If:
(i) the Buyer’s Site is disconnected from the Network under clause 10.1(b)(iii);
(ii) this Agreement has not been terminated; and
(iii) the Buyer has remedied the Financial Default, Change Energy may cause or allow the Buyer’s Site to be reconnected to the Network (in which case the Buyer must pay any costs incurred by Change Energy with respect to the reconnection of the Buyer’s Site to the Network).
Financial Default. If a Financial Default occurs in respect of the Licensee, then the Minister may, in addition to any other remedies he or she has under the Act, treat the Financial Default as a Step-in Event and immediately proceed in accordance with clause 12.
Financial Default any other Borrowed Moneys Indebtedness of the Borrower exceeding in the aggregate USD10,000,000 (or its equivalent in other currencies) at any time is not paid when due for payment or is found not to have been paid, in each case after any applicable grace period has elapsed, or shall become due and payable prior to the stated maturity thereof as a result of a payment default thereunder (except where the relevant creditor has waived such default or extended the date for payment thereof);
Financial Default. In accordance with Section 11.1.1 above, this Agreement may terminate if a party (a) fails to cure a Financial Default in full within the Financial Default Cure Period, or
Financial Default. In the event of a Financial Default or any breach of Section 3 of the Agreement, without prejudice to any of LESSOR’s rights under this Agreement, LESSOR may in its sole discretion take any or all of the following actions: (a) suspend the cablecasting of any Programming without prior notice to LESSEE and such suspension may continue until the breach is cured to LESSOR’s sole satisfaction;
Financial Default. Upon occurrence of a Financial Default, the Lenders’ Representative may issue a notice to the Concessionaire (the “Notice of Financial Default”) along with particulars thereof, and send a copy to Maha-Metro for its information and record. A Notice of Financial Default under this Article III shall be conclusive evidence of such Financial Default and it shall be final and binding upon the Concessionaire for the purposes of the Substitution Agreement. Upon issue of a Notice of Financial Default hereunder, the Lenders’ Representative may, without prejudice to any of its rights or remedies under the Substitution Agreement or the Financing Agreements, substitute the Concessionaire by a Nominated Company in accordance with the provisions of the Substitution Agreement. At any time after the Lenders’ Representative has issued a Notice of Financial Default, it may make a representation to Maha-Metro, stating that it intends to substitute the Concessionaire by a Nominated Company (“Lenders’ Substitution Notice”). The Lenders’ Representative shall be entitled to undertake and complete the substitution of the Concessionaire by a Nominated Company in accordance with the provisions of the Substitution Agreement and the Concession Agreement within a period of 180 (one hundred and eighty) days from the date of Lenders’ Substitution Notice, and Maha-Metro shall withhold Termination due to any Concessionaire Event of Default for the aforesaid period of 180 (one hundred and eighty) days, and the Concessionaire shall continue to discharge its obligations thereunder for such period. Xxxxxxx’ Representative shall forthwith send a copy of the aforesaid Lenders’ Substitution Notice to the Concessionaire. Substitution upon occurrence of Concessionaire Event of Default Upon occurrence of a Concessionaire Event of Default, Maha-Metro shall, by sending a copy of the Notice of Intention to Terminate to the Lenders’ Representative, inform of its intention to terminate the Concession Agreement and grant 15 (fifteen) days time to the Lenders’ Representative to make a representation, stating its intention to substitute the Concessionaire by a Nominated Company. In the event that the Lenders’ Representative make a representation to Maha- Metro within the period of 15 (fifteen) days specified in Article 3.3.1, stating that it intends to substitute the Concessionaire by a Nominated Company (“Lenders’ Substitution Representation”), the Lenders’ Representative shall be entitled to undertake and...
Financial Default. ASF may, in ASF's sole discretion, immediately terminate the CSA upon a financial default by a client in accordance with the terms and conditions of the CSA. A financial default includes but is not limited to:
(1) a client's failure to comply with the terms of this Credit Policy; (2) a client's failure to timely pay an invoice or fund a payroll; and (3) other acts of default as set forth in the CSA. Failure of ASF to insist upon strict adherence of any terms or conditions of this Credit Policy shall not constitute a waiver of such terms and conditions or a waiver of any default. [Administaff LOGO] EXHIBIT F 401(k) Plans Exhibit This Exhibit is attached to and constitutes an integral part of the Client Service Agreement ("Agreement") between Administaff Companies II, L.P. ("Administaff") and Diversified Security Solutions, Inc. ("Client"). Capitalized terms not otherwise defined herein shall have the meaning assigned to them in the Agreement. This Exhibit shall become effective on the effective date of the Agreement. This Exhibit shall survive in the event of a termination of the Agreement. In accordance with the provisions of Article III of the Agreement, Administaff and Client hereby agree that the 401(k) plan opportunities of Staff shall be in accordance with A, B, C or D below as selected by Client subject to Administaff's Agreement.
