Default. In cases in which the purchase price has not been paid within one (1) week of the invoice having been received, the buyer will be conside- red to be defaulting on the payment. Upon the occurrence of such default, the purchase price will accrue interest at 1% per month, notwithstanding any other claims to compensation of damages that may exist. Two (2) months after the buyer has defaulted on the purchase price, Grisebach will be entitled – and will be under obligation to do so upon the Consignor’s corresponding demand – to provide to the Consignor the buyer’s name and address. If the buyer has defaulted on the purchase price, then Grisebach may rescind the agreement after having set a period of grace of two (2) weeks. Once Grisebach has so rescinded the agree- ment, all rights of the buyer to the work of art acquired at auction will expire. Upon having declared its rescission of the agreement, Grise- bach will be entitled to demand that the buyer compensate it for its damages. Such compensation of damages comprises in particular the remuneration that Grisebach has lost (commission to be paid by the Consignor and buyer’s premium), as well as the costs of the illus- trations for the Presentation and the costs of shipping, storing, and insuring the work of art until it is returned or until it is once again of- fered for sale at an online auction. Where the work of art is sold to a bidder who has submitted a lower bid, or where it is sold at the next auction or the auction after that, the original buyer moreover will be held liable for any amount by which the proceeds achieved at that subsequent auction are lower than the price it had bid originally. Grisebach has the right to block the defaulting buyer from fu- ture online auctions and to forward the name and address of that buyer to other auction houses so as to enable them to disqualify that buyer from their auctions as well. Acceptance of the work of art purchased at auction
1. Pick-up The buyer is under obligation to pick up the work of art at the latest one
(1) week following conclusion of the sale and purchase agreement. However, Grisebach is not under obligation to surrender to the buyer the work of art acquired at auction before it has received pay- ment in full of the purchase price set out in the invoice. Title to the work of art will devolve to the buyer only once the entirety of the amounts owed pursuant to Section 4 have been paid in full. This reservation of title applies, if merchants and legal ...
Default. If the customer does not pay on time, he shall be in default even without an additional reminder.
Default. If you fail to satisfy any obligation under the Agreement, in addition to any other available remedies, you agree that Xxxx Xxxxx may prevent you from accessing the Network. In addition, you agree to pay all costs, expenses, and reasonable attorney’s fees for Xxxx Xxxxx’x enforcement of this Agreement.
Default. 7.1. The purchase price is due upon acceptance of the bid. If payment is made in a foreign cur- rency, any exchange rate losses and bank charges will be borne by the buyer.
7.2. In the event of default in payment, default interest of 1% per month is charged. The buyer is entitled to provide evidence that the loss is less or that there is no loss. In addition, in case of default in payment, Hargesheimer Kunstauktionen may elect to demand performance of the purchase contract or may rescind the contract after setting a suitable period for perfor- mance. In the event of rescission, all of the buyer’s rights to the purchased work of art shall lapse and Hargesheimer Kunstauktionen shall be entitled to demand damages amounting to the lost fee for the work of art (consignor commission and premium). If the item is re-auc- tioned at a new auction, then the defaulting buyer is additionally liable for any shortfall in proceeds compared with the earlier auction and for the costs of the repeat auction; he is not entitled to any excess proceeds. Hargesheimer Kunstauktionen has the right to exclude him from further bids in auctions.
7.3. One month after default has occurred, Hargesheimer Kunstauktionen is entitled to and, if the consigner demands it, required to provide the latter with details of the name and ad- dress of the buyer.
Default. 8.1 In the event of a default in payment by you, default interest shall be charged at a rate of 1% per month without prejudice to further claims. The Buyer shall be entitled to furnish evidence that a lesser or no loss was incurred.
8.2 If in cases of late payment we demand compensation in lieu of performance, and if the item is sold again, then the original buyer, from whose purchase agreement we withdrew in this case due to the delay, shall be liable for any losses thus sustained, such as e.g. storage costs, shortfalls and lost profits.
Default. If the Provider is in default of the performance owed, its liability is governed by section 13 of these Terms and Conditions; otherwise the statutory provisions apply. The customer is entitled to withdraw from the agreement only if the Provider does not comply with an appropriate grace period set by the customer of at least four weeks.
Default. The participant is obliged to immediately notify Manthey-Racing about his/her complaint about not or not-as- owed performed services. Manthey-Racing is obliged to ensure that the promised services are carried out to the extent possible. The participant can demand a reduction of the participation fee after the PGTT, if services have not been provided according to the contract and the participant did not culpably omit to inform Xxxxxxx- Racing immediately (without culpable hesitation). If the PGTT is significantly impaired as a result of a default and Manthey-Racing does not perform, the participant can terminate the contract within the framework of the legal provisions - in his/her own interest, written form is recommended. Manthey-Racing reserves the right to postpone or cancel the agreed date for an important reason, if the reason was not foreseeable at the time of conclusion of the contract. In this case, Manthey-Racing can offer an alternative date. In this case, the partic- ipant has the right to withdraw from the contract. Payments already made will be refunded. Further claims of the participant are excluded. As far as the execution of the event is endangered or prevented due to force majeure, Manthey-Racing has the right to cancel or terminate the event. Already provided services will not be refunded. Further claims of the participant are excluded. If the number of participants is too low, Manthey- Racing has the right to cancel the event, in this case paid entry fees will be refunded. Further claims of the participant are excluded. In the event of non-participation in the booked event, the obligation to pay participa- tion fees remains in force. The parties agree that a cancellation of the event due to the COVID-19 pandemic does not constitute force majeure, as it is not an unforeseeable event at the time of conclusion of the contract. Therefore, according to the will of the parties, the regulations on the “frustration of contract” are also not applicable. If the event be- comes impracticable for Manthey-Racing due to possible local, national or EU-wide measures to contain and protect in the context of the COVID-19 pandemic and therefore has to be canceled, both parties will be re- leased from their obligation. In this case, all payments already made by the participant will be refunded 100%. Any bank charges incurred in connection with foreign payment transactions are borne by both parties at 50% each. Should the participant not be able to participa...