Noncompliance With Order Clause Samples
The Noncompliance with Order clause defines the consequences and procedures that apply when a party fails to adhere to the terms of a court order or contractual directive. Typically, this clause outlines the steps the non-breaching party may take, such as seeking remedies, imposing penalties, or requesting enforcement actions. Its core function is to ensure accountability and provide a clear mechanism for addressing breaches, thereby promoting compliance and reducing disputes over enforcement.
Noncompliance With Order. If the Trust fails to comply with any or all of the conditions set forth in the Application and/or the Order, the Fund of Funds shall be notified immediately of such non-compliance. Upon such notice, or if either party learns of such failure by other means, the parties shall take all necessary steps to correct such non-compliance, including redemption by the Fund of Funds of as much of its shares of the Funds necessary to cause the Fund of Funds’ investment in the Funds to come within the limits of Section 12(d)(1) of the 1940 Act.
Noncompliance With Order