PENALTIES FOR DEFAULT Sample Clauses

PENALTIES FOR DEFAULT. (a) In the event the Employer fails to remit contributions to the Pension Plan in conformity with the provisions of Article 15.05, the Employer shall, if in default more than ten (10) days after notification by the Union, pay the monies due thereunder and in addition thereto pay the Pension Plan a penalty in the amount of $50.00. The Employer shall also be responsible for loss of benefits to any employee because of the Employer's default action. (b) Payments of contributions to the Health Care Plan under Article 15.05 which are not paid on the due date, will bear interest from the date the contribution was due until it is paid in full, at the prime rate per annum charged by the bank appointed from time to time by the Trustees under the Trust Deed between the Association and the Union to its most credit worthy customers at the date such contribution was due plus one percentage point. The Employer shall also be responsible for loss of benefits to any employee because of the Employer's default action.
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PENALTIES FOR DEFAULT. In the event that the Strategic Partner fails to remedy the Event of Default in such manner and in such term as indicated for that purpose in the respective Notice of Default, the Strategic Partner shall forfeit the right to receive the consideration referred to in Section 6.2 above for the preceding fiscal year to that on which the Event of Default may have occurred, as a contractual penalty for the damages and losses caused to the Airport Group, for which, they should reimburse to the Service Company said fee in the term of 10 (ten) days after it is requested. Additionally, if the default continues for other 30 (thirty) calendar days after the date on which the Strategic Partner should have remedied it, the Strategic Partner and any Related Person of the Strategic Partner shall forfeit the right to exercise the option to acquire the Optional Shares under the Option Agreement, and unless the option has been transferred under the Option Agreement and the registered holders of the Option are not Related Persons of the Strategic Partner, the Option Agreement shall be terminated.
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PENALTIES FOR DEFAULT. The cumulative benefit of this loan to the community is the total award amount equally proportioned over the term of affordability commitment. Completion and approval of the annual Progress Report will record the Applicant’s benefit to the community each year. A penalty for default equaling the amortized principal plus 15% interest will be charged for each year in default. Penalties are due upon receipt and will collect 5% APR in additional interest if unpaid by the next annual review. Penalties for default are provided based on the award and term of commitment for this Project are as follow: Per Year 4,000 In Compliance Period BoP Principal Payment EoP 1 120,000 333 333 119,667 2 119,667 333 333 119,333 3 119,333 333 333 119,000 4 119,000 333 333 118,667 5 118,667 333 333 118,333 6 118,333 333 333 118,000 7 118,000 333 333 117,667 8 117,667 333 333 117,333 9 117,333 333 333 117,000 10 117,000 333 333 116,667 11 116,000 000 000 000,333 12 116,333 333 333 116,000 13 116,000 333 333 115,667 14 115,667 333 333 115,333 15 115,333 333 333 115,000 16 115,000 333 333 114,667 17 114,667 333 333 114,333 18 114,333 333 333 114,000 19 114,000 333 333 113,667 20 113,667 333 333 113,333 21 113,333 333 333 113,000 22 113,000 333 333 112,667 23 112,667 333 333 112,333 Yes 24 112,333 333 333 112,000 25 112,000 333 333 111,667 26 111,667 333 333 111,333 27 111,333 333 333 111,000 28 111,000 333 333 110,667 29 110,667 333 333 110,333 30 110,333 333 333 110,000 31 110,000 333 333 109,667 32 109,667 333 333 109,333 33 109,333 333 333 109,000 34 109,000 333 333 108,667 35 108,000 000 000 000,333 Yes 36 108,333 333 333 108,000 37 108,000 333 333 107,667 38 107,667 333 333 107,333 39 107,333 333 333 107,000 40 107,000 333 333 106,667 41 106,667 333 333 106,333 42 106,333 333 333 106,000 43 106,000 333 333 105,667 1 120,000 1,500 1,500 120,000 2 120,000 1,500 1,500 120,000 3 120,000 1,500 1,500 120,000 4 120,000 1,500 1,500 120,000 5 120,000 1,500 1,500 120,000 6 120,000 1,500 1,500 120,000 7 120,000 1,500 1,500 120,000 8 120,000 1,500 1,500 120,000 9 120,000 1,500 1,500 120,000 10 120,000 1,500 1,500 120,000 11 120,000 1,500 1,500 120,000 12 120,000 1,500 1,500 120,000 13 120,000 1,500 1,500 120,000 14 120,000 1,500 1,500 120,000 15 120,000 1,500 1,500 120,000 16 120,000 1,500 1,500 120,000 17 120,000 1,500 1,500 120,000 18 120,000 1,500 1,500 120,000 19 120,000 1,500 1,500 120,000 20 120,000 1,500 1,500 120,000 21 120,000 1,500 1,500 120,000 22 120,000 1,500 1,500 120,000 23 12...
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PENALTIES FOR DEFAULT. Completion and approval of the Project Report will record the Applicant’s benefit to the community. Failure to submit the Progress Report within 90 days of Project Completion, and to the satisfaction of the County, shall constitute a default of the Agreement. A penalty for default equaling 10% of the award will be charged for every 30 days the Progress Report is late. Applicant will have a total of 14 calendar days to correct unsatisfactory submission without penalty. Grantee will provide to Community Development a Project Report to include:
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PENALTIES FOR DEFAULT. In the event the Employer fails to remit contribu- tions to the Pension Plan in conformit with the of Article the Employer if in more than ten (10) after notification by the Union, pay the monies due and in addition thereto the Pension Plan a penalty in the amount of he Employer shall also be responsible for loss of ben- efits to any employee because of the Employer's default action. Payments of contributions to the Health Care Plan under Article which are not id on the due date, will bear interest from the date contribution was due until it is paid in full? at the prime rate per an- num charged by the bank appointed from time to time by the Trustees under the Trust Deed between the to any employee because of the Employer's de- fault action.
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PENALTIES FOR DEFAULT. OF THE EMPLOYER’S PAYROLL RECORDS EMPLOYER CEASING TO BE A MEMBER OF THE GREATER VANCOUVER HOTEL EMPLOYERS ASSOCIATION EMPLOYER CEASING TO PARTICIPATE IN THE HEALTH CARE PLAN TABLE OF CONTRIBUTIONS WAGE LOSS PROTECTION WORK INJURY PAY ON BEHALF OF EMPLOYEES IN RECEIPT OF WORKERS’ COMPENSATION TIME-LOSS BENEFITS POSSIBLE INTRODUCTION OF GOVERNMENT PROGRAMS ARTICLE LEAVES OF ABSENCE LEAVE OF ABSENCE: EMPLOYEE ELECTED TO UNION OFFICE LEAVE OF ABSENCE: UNION CONVENTIONS AND EDUCATIONAL PROGRAMS LEAVE TO APPEAR AS WITNESS ............ BEREAVEMENT LEAVE I MATERNITY LEAVE I ADOPTION LEAVE ........................
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PENALTIES FOR DEFAULT. The cumulative benefit of this grant to the community is the total award amount equally proportioned over the term of affordability commitment. Completion and approval of the annual Progress Report will record the Applicant’s benefit to the community each year. A penalty for default equaling the award balance and a 15% penalty will be charged for each remaining year in the term of commitment. Penalties for default are provided based on the award and term of commitment for this Project as follows: Award Years Penalty on Balance 1 $4,000.00 $80,000.00 $92,000.00 2 $4,000.00 $76,000.00 $87,400.00 3 $4,000.00 $72,000.00 $82,800.00 4 $4,000.00 $68,000.00 $78,200.00 5 $4,000.00 $64,000.00 $73,600.00 6 $4,000.00 $60,000.00 $69,000.00 7 $4,000.00 $56,000.00 $64,400.00 8 $4,000.00 $52,000.00 $59,800.00 9 $4,000.00 $48,000.00 $55,200.00 10 $4,000.00 $44,000.00 $50,600.00 11 $4,000.00 $40,000.00 $46,000.00 12 $4,000.00 $36,000.00 $41,400.00 13 $4,000.00 $32,000.00 $36,800.00 14 $4,000.00 $28,000.00 $32,200.00 15 $4,000.00 $24,000.00 $27,600.00 16 $4,000.00 $20,000.00 $23,000.00 17 $4,000.00 $16,000.00 $18,400.00 18 $4,000.00 $12,000.00 $13,800.00 19 $4,000.00 $8,000.00 $9,200.00 20 $4,000.00 $4,000.00 $4,600.00 Submitted 08/29/2022 Presentation to Housing Commission 09/01/2022 Housing Commission Conditional Approval 10/06/2022 BOCC Conditional Approval 11/09/2022 Year 1 06/30/2024 Year 2 06/30/2025 Year 3 06/30/2026 Year 4 06/30/2027 Year 5 06/30/2028 Year 6 06/30/2029 Year 7 06/30/2030 Year 8 06/30/2031 Year 9 06/30/2032 Year 10 06/30/2033 Year 11 06/30/2034 Year 12 06/30/2035 Year 13 06/30/2036 Year 14 06/30/2037 Year 15 06/30/2038 Year 16 06/30/2039 Year 17 06/30/2040 Year 18 06/30/2041 Year 19 06/30/2042 Year 20 06/30/2043 Xxxx Xxxxxxx N/A 000 Xxxx Xxx, Xxxxxxxxx, XX, 00000, XXX 0.12
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PENALTIES FOR DEFAULT. One of the things to look for in any contract is what happens in the event of a default. The most usual provision states that the contract can be terminated by the non-defaulting party if a party defaults. Some contracts provide for liquidated damages (that is, a definite dollar amount or formula amount to be paid if there is a breach). You should be aware of the consequences specified in the contract for breach. In contracts with hospitals, you should be particularly alert to a provision that provides that in the event a distributor breaches, it can be debarred from the hospital. While it is bad enough to be unable to sell to one of your potential customers, the consequences of debarment may be much greater. Many contracts between distributors of sophisticated medical devices and the manufacturers of the medical devices provide that the contract may be terminated if the distributor is debarred.
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PENALTIES FOR DEFAULT 
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Related to PENALTIES FOR DEFAULT

  • Remedies for Default (a) Enterprise Services’ rights to suspend and terminate Contractor’s rights under this Master Contract are in addition to all other available remedies. (b) In the event of termination for default, Enterprise Services may exercise any remedy provided by law including, without limitation, the right to procure for all Purchasers replacement goods and/or services. In such event, Contractor shall be liable to Enterprise Services for damages as authorized by law including, but not limited to, any price difference between the Master Contract price and the replacement or cover price as well as any administrative and/or transaction costs directly related to such replacement procurement – e.g., the cost of the competitive procurement.

  • Liability for Default 11.1 The Parties agree and acknowledge that if any Party (“Defaulting Party”) breaches any provision of this Agreement, or fails to perform any obligation under this Agreement, it shall constitute a default under this Agreement (“Default”) and the non-defaulting Party shall be entitled to request the Defaulting Party to cure such Default or take remedies within a reasonable time period. If the Defaulting Party fails to cure such Default or take remedies within such reasonable time period or within ten (10) days after the non-Defaulting Party notifies the Defaulting Party in writing and requests it to cure such Default, then the non-defaulting Party is entitled to decide at its discretion: 11.1.1 If Party B is the Defaulting Party, Party A shall be entitled to terminate this Agreement and request the Defaulting Party to indemnify it against all the damages, or to request the Defaulting Party to continue to perform its obligations under this Agreement and to request the Defaulting Party to indemnify it for all the damages; 11.1.2 If Party A is the Defaulting Party, Party B shall be entitled to request the Defaulting Party to indemnify it for all the damages, unless otherwise stipulated by the Laws, the non-defaulting Party shall not be entitled to terminate or cancel this Agreement under any circumstances. 11.2 Notwithstanding any other provisions of this Agreement, the validity of this Section 11 shall not be affected by any suspension or termination of this Agreement.

  • CANCELLATION FOR DEFAULT In the event Contractor is in default of any of its obligations under the Contract, Con Edison shall have the right, on written notice to Contractor and any sureties, to cancel the Contract for default. Contractor shall be deemed to be in default hereunder if it is in default of any of its obligations under the Contract or makes any statement or performs any act indicating that it will not perform one or more of such obligations (whether or not the time has yet arrived for performance thereof) or rejects the Contract under the United States Bankruptcy Code or ceases to pay its debts promptly or becomes insolvent or commences or has commenced against it any insolvency proceeding or finds its affairs placed in the hands of a receiver, trustee, or assignee for the benefit of creditors. In the event of cancellation for default hereunder, Article 33 (Termination for Convenience), shall not apply, and Con Edison shall have all rights and remedies provided by law and the Contract. Without intending to limit the generality of the foregoing, it is specifically understood and agreed that Con Xxxxxx shall have the right, at its election and without prejudice to any other remedies, (i) to exclude Contractor from the construction site, or any portion of the construction site, (ii) to complete or employ a third party to complete the Work or any portion of the Work, and hold Contractor liable for any additional cost occasioned thereby, (iii) to take possession of any or all materials, tools, equipment and appliances at the construction site for the purpose of completing the Work or any portion of the Work, (iv) to compel Contractor to assign any or all subcontracts with Subcontractors to Con Edison without additional cost or expense to Con Edison, and/or (v) to negotiate new contractual arrangements with Subcontractors for such Subcontractors to complete all or any portion of the work on terms agreeable to Con Edison. Upon Con Xxxxxx's request, Contractor shall promptly provide Con Xxxxxx with Contractor's sworn statement stating, for each subcontract with each Subcontractor (i) the original price of the subcontract and the price of each change order thereunder together with a description of each such change order, (ii) the amount that Contractor paid under the subcontract and each change order thereunder, and (iii) the amount of retention held by Contractor under the subcontract and each change order thereunder. Following cancellation of the Contract for default, Contractor shall not be entitled to any further payment until the work has been fully completed and accepted, and Con Edison may retain from any money otherwise due Contractor for services rendered prior to cancellation an amount which Con Edison determines is adequate to cover all damage resulting from Contractor's default. If such costs and damages exceed the unpaid balance, Contractor shall pay the difference to Con Xxxxxx. Upon cancellation for default of the Contract under this Article, Con Edison shall be entitled to cancel for default any or all other contracts between the Contractor and Con Edison, and such cancellation shall be governed by this Article. Also, a cancellation for default of any other contract between Contractor and Con Edison shall entitle Con Edison to cancel for default the Contract under this Article. In the event that Contractor demonstrates that a cancellation of the Contract and any other contract cancelled for default is erroneous, the cancellation shall, at Con Edison's option, be withdrawn or be deemed to have been issued as a termination for convenience pursuant to Article 33, and the rights and obligations of the parties hereto shall in such event be governed accordingly.

  • Termination for Default; Remedies 8.2.1 Each of the following shall constitute an immediate event of default (“Event of Default”) under this Agreement: (a) Contractor fails or refuses to perform or observe any term, covenant or condition contained in any of the following Sections of this Agreement:

  • No Conflict, Breach, Violation or Default The execution, delivery and performance of the Transaction Documents by the Company and the issuance and sale of the Securities will not conflict with or result in a breach or violation of any of the terms and provisions of, or constitute a default under (i) the Company’s Articles of Incorporation or the Company’s Bylaws, both as in effect on the date hereof (true and complete copies of which have been made available to the Investor through the XXXXX system), or (ii)(a) any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company, any Subsidiary or any of their respective assets or properties, or (b) any agreement or instrument to which the Company or any Subsidiary is a party or by which the Company or a Subsidiary is bound or to which any of their respective assets or properties is subject.

  • Termination for Default The Commonwealth may terminate this Agreement by notice where it reasonably believes the Grantee: (a) has breached this Agreement; or (b) has provided false or misleading statements in their application for the Grant; or (c) has become bankrupt or insolvent, entered into a scheme of arrangement with creditors, or come under any form of external administration.

  • Absence of Violation or Default The Adviser is not in violation of its limited liability company operating agreement or other organizational documents or in default under any agreement, indenture or instrument, except for such violations or defaults that have not and could not result in an Adviser Material Adverse Effect.

  • Default Breach Remedies See Addendum 13.1

  • Breach or Default Upon any breach or default by LICENSEE of any term or condition herein contained, ASCAP may terminate this license by giving LICENSEE thirty days notice to cure such breach or default, and in the event that such breach or default has not been cured within said thirty days, this license shall terminate on the expiration of such thirty-day period without further notice from ASCAP. In the event of such termination, ASCAP shall refund to LICENSEE any unearned license fees paid in advance.

  • Absence of Breaches or Defaults Lessee is not in default under any document, instrument or agreement to which Lessee is a party or by which Lessee, the Properties or any of Lessee’s property is subject or bound, which has had, or could reasonably be expected to result in, a Material Adverse Effect. The authorization, execution, delivery and performance of this Lease and the documents, instruments and agreements provided for herein will not result in any breach of or default under any document, instrument or agreement to which Lessee is a party or by which Lessee, the Properties or any of Lessee’s property is subject or bound.

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