Common use of Remedies for Default Clause in Contracts

Remedies for Default. The Treasury may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and cease its performance hereunder. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is revoked. C. The Treasury may revoke the Financial Agent's designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 (Liability of Financial Agent.) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.

Remedies for Default. The Treasury in its sole discretion may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and demand that the Financial Agent cease its performance hereunder. hereunder effective immediately or following a Transition Period as described in Section 2C. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is revoked. C. The Treasury may revoke the Financial Agent's ’s designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 (Liability of Financial Agent).) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.

Remedies for Default. The Treasury may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and cease its performance hereunder. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are automatically revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is automatically revoked. C. The Treasury may revoke the Financial Agent's designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA agreement and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 16 (Liability of Financial Agent.) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.

Remedies for Default. The Treasury may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and cease its performance hereunder. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is revoked. C. The Treasury may revoke the Financial Agent's designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 19 (Liability of Financial Agent.) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.

Remedies for Default. The Treasury in its sole discretion may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and demand that the Financial Agent cease its performance hereunder. hereunder effective immediately or following a Transition Period as described in Section 2C. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is revoked. C. The Treasury may revoke the Financial Agent's ’s designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 19 (“Liability of Financial Agent”).) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.

Remedies for Default. The Treasury may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and cease its performance hereunder. hereunder effective immediately or following a transition period as described in Section 2C. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are automatically revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is automatically revoked. C. The Treasury may revoke the Financial Agent's ’s designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement agreements with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a the Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA agreement and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 (Liability of Financial Agent).) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.

Remedies for Default. The Treasury may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and cease its performance hereunder. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are automatically revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is automatically revoked. C. The Treasury may revoke the Financial Agent's designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement agreements with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA agreement and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 (Liability of Financial Agent).) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.

Remedies for Default. The Treasury in its sole discretion may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and demand that the Financial Agent cease its performance hereunder. hereunder effective immediately or following a Transition Period as described in Section 2C. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is revoked. C. The Treasury may revoke the Financial Agent's ’s designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 19 (Liability of Financial Agent).) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.

Remedies for Default. The Treasury may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and cease its performance hereunder. hereunder effective immediately or following a transition period as described in Section 2C. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are automatically revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is automatically revoked. C. The Treasury may revoke the Financial Agent's designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement agreements with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a the Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA agreement and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 (Liability of Financial Agent).) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.

Remedies for Default. The Treasury may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and cease its performance hereunder. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is revoked. C. The Treasury may revoke the Financial Agent's designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA agreement and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 19 (Liability of Financial Agent.) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.

Remedies for Default. The Treasury in its sole discretion may take any, all, or none of the following actions in the event of a default by the Financial Agent under this FAA: A. The Treasury may terminate this FAA and cease its performance hereunder. hereunder effective immediately or following a transition period as described in Section 2C. If this FAA is terminated, the designation and authorization of the Financial Agent for purposes of providing the services under this FAA are revoked. B. The Treasury may reduce the scope of services under this FAA and cease a portion of its performance hereunder. If the scope of this FAA is reduced, the authorization of the Financial Agent for purposes of providing the discontinued services under this FAA is revoked. C. The Treasury may revoke the Financial Agent's ’s designation as a financial agent for the United States, encompassing this FAA and any other financial agency agreement with the Treasury, which shall be deemed terminated as of the effective date of such revocation. D. The Treasury may declare any other agreement between the Financial Agent and the Treasury to be in default. E. The Treasury in its sole discretion may put a Financial Agent on probation for failing to perform satisfactorily a service (or services) delineated in this FAA. Probation means that the Treasury will withhold some or all of the Financial Agent’s compensation until in the Treasury’s determination the Financial Agent has cured the non-performance issues. The Treasury reserves the right to consider other measures in addition to withholding the compensation if the Financial Agent is put on probation, including but not limited to, preclusion from additional work under the existing FAA and ineligibility to be designated for other work under a new agreement. The payment of compensation may also be adjusted consistent with Section 18 19 (Liability of Financial Agent.) F. The Treasury may consider information or history regarding any default hereunder when making any decisions regarding future use of the Financial Agent for performance of financial agent services. G. The Treasury may take any other action available at law or in equity.