Xxxxx's Default. 13.1 If the Buyer fails to make any payment on the due date then, without prejudice to any other right or remedy available to the Seller, the Seller shall be entitled to:-
13.1.1 cancel the order or suspend any further deliveries to the Buyer;
13.1.2 appropriate any payment made by the Buyer to such of the Goods (or the goods supplied under any other contract between the Buyer and the Seller) as the Seller may think fit (notwithstanding any purported appropriation by the Buyer); and
13.1.3 charge the Buyer interest (both before and after any judgement) on the amount unpaid, at the rate of two per cent per annum above National Westminster Bank plc base rate from time to time, until payment in full is made (a part of a month being treated as a full month for the purpose of calculating interest).
13.2 This condition applies if:-
13.2.1 the Buyer fails to perform or observe any of its obligations hereunder or is otherwise in breach of the Contract; or
13.2.2 the Buyer becomes subject to an administration order or makes any voluntary arrangement with its creditors (within the meaning of the Insolvency Act 1986) or (being an individual or firm) becomes bankrupt or (being a company) goes into liquidation; or
13.2.3 an encumbrancer takes possession, or a receiver is appointed, of any of the property or assets of the Buyer; or
13.2.4 the Buyer ceases, or threatens to cease, to carry on business; or
13.2.5 the Seller reasonably apprehends that any of the events mentioned above is about to occur in relation to the Buyer and notifies the Buyer accordingly.
13.3 If Condition 13.2 applies then, without prejudice to any other right or remedy available to the Seller, the Seller shall be entitled to cancel the Contract or suspend any further deliveries under the Contract without any liability to the Buyer, and if the Goods have been delivered but not paid for the price shall become immediately due and payable notwithstanding any previous agreement or arrangement to the contrary.
Xxxxx's Default. If Xxxxx fails to complete this transaction by reason of any default of Buyer, as determined by Seller in Seller's sole discretion, Seller, at Seller's option, may retain the Deposit and any other funds then paid by Xxxxx as liquidated damages and/or invoke any other remedy expressly set out in this Agreement and Seller is automatically released from the obligation to sell the Property to Buyer and neither Seller nor Seller's representatives, agents, attorneys, successors, or assigns shall be liable to Buyer for any damages of any kind as a result of Seller's failure to sell and convey the Property.
Xxxxx's Default. 14.1 If the Buyer does not pay any monies due or is otherwise in default then, providing the Seller is not in default, the Seller may, in addition to and without limiting other remedies, including action for damages and/or specific performance, by notice in writing to the Buyer specifying the default, terminate or affirm this Contract.
14.2 Should the Seller terminate this Contract in accordance with Clause 14.1 the Seller may, without prejudice to any other rights:
(1) claim forfeiture of the Deposit or call up any Bank Bond or Bank Guarantee provided in accordance with Clause 3.4;
(2) resell the Property and provided such resale is completed within 12 months, any deficiency, including the expense of such resale, shall be recoverable by the Seller from the Buyer as liquidated damages;
(3) retain the Property and sue the Buyer for damages for breach of this Contract;
(4) claim any Deposit monies that are in arrears as a liquidated debt; and
(5) appropriate the profit, if any, on resale.
14.3 Should the Seller affirm this Contract in accordance with Clause 14.1 the Seller may, without prejudice to any other rights:
(1) sue the Buyer for specific performance of the Contract and/or damages for breach as well as, or in lieu of, specific performance of the Contract; and
(2) recover from the Buyer, the Deposit or any part thereof the Buyer has failed to pay as a liquidated debt.
14.4 Damages will include:
(1) professional fees and costs incurred to satisfy the terms of this Contract; and
(2) legal costs on an indemnity basis.
Xxxxx's Default. In the event of Xxxxx's default and to the extent allowed by law, Seller shall be entitled to retain the Deposits up to 10% of the Purchase Price as liquidated damages, and if the Deposits are less than 10% of the Purchase Price, Buyer shall immediately pay to Seller the difference between 10% of the Purchase Price and the amount of the Deposits. In addition, Seller shall be entitled to keep, as liquidated damages and not as a penalty, any and all Advanced Payments made by Buyer to Seller for installed options, extras or upgrades for which Seller has made contractual commitments or incurred liability by placing orders or otherwise. Xxxxx agrees that actual damages in the event of breach by Xxxxx would be costly and difficult to calculate, and that such liquidated damages are a fair and reasonable remedy and shall not be considered a penalty.
Xxxxx's Default. 11.1 If the Buyer does not pay any monies due or is otherwise in default then, providing the Seller is not in default, the Seller may, in addition to and without limiting other remedies, including action for damages and/or specific performance, by notice in writing to the Buyer specifying the default, terminate or affirm this Contract.
11.2 Should the Seller terminate this Contract the Seller may, without prejudice to any other rights:
(1) claim forfeiture of the Deposit or call up any Bank Bond or Bank Guarantee provided in accordance with Clause 3.4; and/or
(2) resell the Property and provided such resale is completed within 12 months, any deficiency, including the expense of such resale, shall be recoverable by the Seller from the Buyer as liquidated damages.
(3) may retain the Property and sue the Buyer for damages for breach of this Contract.
(4) claim any Deposit monies that are in arrears as a liquidated debt.
(5) appropriate the profit, if any, on resale.
11.3 Should the Seller affirm this Contract the Seller may, without prejudice to any other rights:
(1) sue the Buyer for specific performance of the Contract and/or damages for breach as well as, or in lieu of, specific performance of the Contract; and
(2) recover from the Buyer, the Deposit or any part thereof the Buyer has failed to pay as a liquidated debt.
11.4 Damages will include:
(1) professional fees and costs incurred to satisfy the terms of this Contract.
(2) legal costs on an indemnity basis.
Xxxxx's Default. Should Buyer fail to take delivery of goods on tender of the same by Xxxx, in addition to any other remedies it may have at law, in equity, or by contract, Xxxx shall be entitled to (i) store and insure the goods at Buyer's cost, together with annual interest at the rate of Prime Rate plus 5% on the invoiced amount until paid, until such time as Buyer takes
(i) Buyer default in performance with respect to any sale of goods, (ii) any insolvency proceedings be instituted by or against Buyer, or (iii) Buyer make any assignment for the benefit of creditors, Xxxx may at its option cancel any contract of sale between the parties where goods have not yet been delivered to Buyer and be entitled to recover from Buyer any damages it may suffer as a result of such cancellation.
Xxxxx's Default. The Hirer agrees that any unpaid hire rates or fees (the ‘outstanding debt’) may be referred to a debt recovery agency and be recorded on a credit information database against the Hirer. The Hirer further agrees to pay monthly interest on the outstanding debt calculated at 2.5% of the total amount owing to cover the Company’s costs in relation to the recovery of the outstanding debt including but not limited to debt recovery charges and legal fees which may be added to the balance of your account. Failure to pay the Company on time shall be a breach going to the essence of the Hirer’s obligations under the Hire Agreement. The Hirer shall further compensate the Company and the Company shall be entitled to recover any loss or damage suffered by reason of any actions or omissions of the Hirer. Such entitlement shall subsist notwithstanding any determination of the amount due and shall be in addition to any other right or remedy which the Company may have. Failure to complete the term of this contract will result in the bond being nonrefundable, with the Company having the right to take necessary legal action to recover any loss of revenue to the Company in relation to the contract term being breached. The Company has the right to access the Hirer property/tenanted property and remove the goods if the Hirer has defaulted on one or more payments. At this stage, the bond that has been paid by the hirer becomes nonrefundable and is used to cover the cost of the removal of the goods. Upon the notification that the goods is to be removed due to default in payment (this notification either by text/email or letter in the post), the Hirer is to remove all their personal belongings from the goods and if this has not been done by the time of removal the Hirers belongings remaining in the cabin becomes the property of the Company and this can be sold and money used to cover arrears and costs.
Xxxxx's Default. If the BUYER or BUYER'S nominee breaches this Agreement, all escrowed funds paid or deposited by the BUYER shall be paid to the SELLER as liquidated damages. Receipt of such payment shall constitute the SELLER'S sole remedy, at law, in equity or otherwise, for BUYER'S default. The BUYER and SELLER agree that in the event of default by the BUYER the amount of damages suffered by the SELLER will not be easy to ascertain with certainty and, therefore, BUYER and SELLER agree that the amount of the BUYER'S deposit represents a reasonable estimate of the damages likely to be suffered.
Xxxxx's Default. If the Buyer shall default under this Agreement, Presbytery shall have the option of suing for specific performance or of terminating this Agreement.
Xxxxx's Default. Should Buyer default on its obligations provided herein then Seller shall so notify Buyer in writing specifying the nature of the default. Buyer shall have five (5) Business Days from the date of such notice to cure the default. If Buyer fails to cure said breach within said five (5) Business Day period or otherwise resolve the matter to Seller’s reasonable satisfaction, Seller shall have the option to cancel this Agreement upon notice to Buyer and upon such cancellation, the Deposit shall be retained by Seller as liquidated damages. The retention of the Deposit shall be Seller's sole and exclusive remedy in the event of default by Xxxxx and shall be in lieu of any and all other legal and equitable remedies otherwise available to Seller and Seller hereby waives any other rights or remedies Seller may have against Buyer. In the event of a valid termination by Seller pursuant to this Section 14.1, this Agreement shall terminate and the parties hereto shall be released from any further obligations hereunder each to the other except for those matters which, by their terms, survive the termination of this Agreement. This Section 14.1 shall not limit the liability of Buyer under its obligations contained in Section 4 and 12.1 of this Agreement.
