Payment Failures Sample Clauses

Payment Failures. If any party required to make a payment hereunder fails to make such payment when required by this Agreement (or, if no required time period is specified, within 10 Business Days of written request by the party to whom the payment is due), the amount due shall bear interest at a rate equal to the prime rate of Citibank, N.A. in effect on the date such payment was required to be made plus 2%.
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Payment Failures. Any failure by Somanta to make payments to Immunodex by their respective due dates is a material breach of this Agreement. Somanta shall have 30 days to cure its breach by submitting the payment due to Immunodex. If the payment due is not made by Somanta within the 30 day period, this Agreement shall terminate on the expiration of such notice period and all rights, without exception, will revert to Immunodex. During the delinquent period, Immunodex may charge interest on any outstanding amount on a daily basis at a rate equivalent to 3% above the prime rate of lending published by the U.S. Federal Reserve from time to time (or the maximum amount permitted by law, whichever is less).
Sample 1
Payment Failures. Failure by Employer to make any payment in accordance with the terms of this Agreement (including, without limitation, payment of fees pursuant to this Section 5, or claims reimbursement funding pursuant to Section 4) will constitute a payment default. If Employer fails to cure any such payment default within five (5) business days after notice, in addition to other available remedies, HealthTrust may terminate this Agreement upon fifteen (15) days prior written notice to Employer.
Sample 1
Payment Failures. If the Company fails to make any payment of a Maturity Date Redemption Price and/or fails to make any Price Failure Payment, then in addition to any remedy the Holder may have under this Debenture, the Securities Purchase Agreement and the Registration Rights Agreement, until the Maturity Date Redemption Price and/or Price Failure Payment, as applicable, is paid in full, (x) the Maturity Date Redemption Price and/or the amount of any Price Failure Payment, as applicable, payable in respect of such unpaid Maturity Date Redemption Price and/or unpaid Price Failure Payment shall bear interest at the rate of 1.5% per month, prorated for partial months, and (y) the Holder shall have the option to require the Company to convert any or all of the Outstanding Principal Amount of this Debenture subject to redemption and for which the Maturity Date Redemption Price (together with any interest thereon) has not been paid and/or any amount of a Price Failure Payment (together with any interest thereon) that has not been paid, into a number of shares of Common Stock equal to the quotient of the Maturity Date Redemption Price (together with any interest thereon) and/or the Price Failure Payment (together with any interest thereon), as applicable, divided by the Default Conversion Price.
Sample 1

Related to Payment Failures

  • Payment Failure Any Credit Party (i) fails to pay any principal when due under this Agreement or (ii) fails to pay, within three Business Days of when due, any other amount due under this Agreement or any other Credit Document, including payments of interest, fees, reimbursements, and indemnifications;

  • Equipment Failures In the event of equipment failures beyond the Administrator's control, the Administrator shall take reasonable and prompt steps to minimize service interruptions but shall have no liability with respect thereto. The Administrator shall develop and maintain a plan for recovery from equipment failures which may include contractual arrangements with appropriate parties making reasonable provision for emergency use of electronic data processing equipment to the extent appropriate equipment is available.

  • Business Failure Any act by, against or relating to any Loan Party, or its property or assets, which act constitutes the determination by any Loan Party to initiate or acquiesce to: a program of partial or total self-liquidation; an application for, consent to, or sufferance of the appointment of a receiver, trustee, or other person, pursuant to court action or otherwise, with respect to all or any part of any Loan Party’s property; the granting of any trust mortgage or execution of an assignment for the benefit of the creditors of any Loan Party; any other voluntary or involuntary liquidation or extension of debt agreement for any Loan Party; the offering by, or entering into by, any Loan Party of any composition, extension, or any other arrangement seeking relief from or extension of the debts of any Loan Party; or the initiation of any judicial or non-judicial proceeding or agreement by, against, or including any Loan Party which seeks or intends to accomplish a reorganization or arrangement with creditors; and/or the initiation by or on behalf of any Loan Party of the liquidation or winding up of all or any part of any Loan Party’s business or operations.

  • Epidemic Failure The term “Epidemic Failure” means Product deficiencies resulting from defects in material, workmanship and/or manufacturing process that are in excess of one percent (1%) of the total number of Products shipped during any rolling six (6) month period.

  • Payment Delay Notwithstanding any other terms of this Agreement, no payments will be made to CONTRACTOR until COUNTY is satisfied that work of such value has been rendered pursuant to this Agreement. However, COUNTY will not unreasonably withhold payment and, if a dispute exists, the withheld payment shall be proportional only to the item in dispute.

  • Payment Grace Period The Borrower shall have a ten (10) day grace period to pay any monetary amounts due under this Note, after which grace period a default interest rate of fifteen percent (15%) per annum shall apply to the amounts owed hereunder.

  • Default Payment Following the occurrence and during the continuance of an Event of Default, the Holder, at its option, may demand repayment in full of all obligations and liabilities owing by Company to the Holder under this Note, the Purchase Agreement and/or any other Related Agreement and/or may elect, in addition to all rights and remedies of the Holder under the Purchase Agreement and the other Related Agreements and all obligations and liabilities of the Company under the Purchase Agreement and the other Related Agreements, to require the Company to make a Default Payment (“Default Payment”). The Default Payment shall be 130% of the outstanding principal amount of the Note, plus accrued but unpaid interest, all other fees then remaining unpaid, and all other amounts payable hereunder. The Default Payment shall be applied first to any fees due and payable to the Holder pursuant to this Note, the Purchase Agreement, and/or the other Related Agreements, then to accrued and unpaid interest due on this Note and then to the outstanding principal balance of this Note. The Default Payment shall be due and payable immediately on the date that the Holder has exercised its rights pursuant to this Section 2.3.

  • Payment Frequency As of the Cutoff Date and as shown on the books of CNHCA: (A) Receivables having an aggregate Statistical Contract Value equal to 76.88% of the Aggregate Statistical Contract Value had annual scheduled payments, (B) Receivables having an aggregate Statistical Contract Value equal to 2.70% of the Aggregate Statistical Contract Value had semi-annual scheduled payments, (C) Receivables having an aggregate Statistical Contract Value equal to 0.79% of the Aggregate Statistical Contract Value had quarterly scheduled payments, (D) Receivables having an aggregate Statistical Contract Value equal to 17.19% of the Aggregate Statistical Contract Value had monthly scheduled payments, and (E) Receivables having an aggregate Statistical Contract Value equal to 2.45% of the Aggregate Statistical Contract Value had irregularly scheduled payments.

  • Payment in the Event Losses Fail to Reach Expected Level On the date that is 45 days following the last day (such day, the “True-Up Measurement Date”) of the Final Shared Loss Month, or upon the final disposition of all Shared Loss Assets under this Single Family Shared-Loss Agreement at any time after the termination of the Commercial Shared-Loss Agreement, the Assuming Institution shall pay to the Receiver fifty percent (50%) of the excess, if any, of (i) twenty percent (20%) of the Intrinsic Loss Estimate less (ii) the sum of (A) twenty-five percent (25%) of the asset premium (discount) plus (B) twenty-five percent (25%) of the Cumulative Shared-Loss Payments plus (C) the Cumulative Servicing Amount. The Assuming Institution shall deliver to the Receiver not later than 30 days following the True-Up Measurement Date, a schedule, signed by an officer of the Assuming Institution, setting forth in reasonable detail the calculation of the Cumulative Shared-Loss Payments and the Cumulative Servicing Amount.

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