Breach and Remedies for Breach. The benefits associated with Sector membership will only accrue to the Members if each of them strictly complies with this Agreement. Each Member will make significant operational and financial commitments based on this Agreement, and any Member’s failure to fulfill any of its obligations under this Agreement could have significant adverse consequences for some or all other Members. Any failure by a Member to fulfill any of its obligations under this Agreement shall constitute a breach of this Agreement. Each Member shall be bound by the procedures set forth in this Section for determining whether a Member has breached this Agreement. The Sector shall be entitled to the remedies set forth in this Section if a Member is determined by the Sector to have breached this Agreement. Each Member shall take all actions and execute all documents the Manager deems necessary or convenient to give effect to the provisions of this Section.
Breach and Remedies for Breach. 14 10.1 Liquidated Damages Schedule and Schedule Amendments.
Breach and Remedies for Breach. The benefits associated with Sector membership 24 will only accrue to the Members if each of them strictly complies with this Agreement. Each Member 25 will make significant operational and financial commitments based on this Agreement, and any 26 Member’s failure to fulfill any of its obligations under this Agreement could have significant adverse 27 consequences for some or all other Members. Any failure by a Member to fulfill any of its obligations 28 under this Agreement shall constitute a breach of this Agreement. Each Member shall be bound by the 29 procedures set forth in this Section for determining whether a Member has breached this Agreement. 30 The Sector shall be entitled to the remedies set forth in this Section if a Member is determined by the 1 Sector to have breached this Agreement. Each Member shall take all actions and execute all documents 2 the Manager deems necessary or convenient to give effect to the provisions of this Section.
Breach and Remedies for Breach. 10.1 Liquidated Damages Schedule and Schedule Amendments.
10.2 Enforcement Committee.
10.3 Liquidated Damages Base Value and Multiplier Adoption.
10.4 Liquidated Damages Calculation.
10.5 Notice to Vessel Masters; Assumption of Liability.
Breach and Remedies for Breach. 11 10.1 Liquidated Damages Schedule and Schedule Amendments. 12 10.2 Enforcement Committee. 13 10.3 Liquidated Damages Base Value and Multiplier Adoption.
Breach and Remedies for Breach. The benefits associated with Sector membership will only 19 significant operational and financial commitments based on this Agreement, and any Member’s failure 20 to fulfill any of its obligations under this Agreement could have significant adverse consequences for 21 some or all other Members. Any failure by a Member to fulfill any of its obligations under this 22 Agreement shall constitute a breach of this Agreement. Each Member shall be bound by the procedures 23 set forth in this Section for determining whether a Member has breached this Agreement. The Xxxxxx 00 xxxxx xx entitled to the remedies set forth in this Section if a Member is determined by the Sector to 25 have breached this Agreement. Each Member shall take all actions and execute all documents the 26 Manager deems necessary or convenient to give effect to the provisions of this Section.
Breach and Remedies for Breach. 2 10.1 Liquidated Damages Schedule and Schedule Amendments. NA 3 10.2 Enforcement Committee.
Breach and Remedies for Breach. The benefits associated with Sector membership 28 will only accrue to the Members if each of them strictly complies with this Agreement. Each Member 29 will make significant operational and financial commitments based on this Agreement, and any 30 Member’s failure to fulfill any of its obligations under this Agreement could have significant adverse 31 consequences for some or all other Members. Any failure by a Member to fulfill any of its obligations 1 under this Agreement shall constitute a breach of this Agreement. Each Member shall be bound by the 2 procedures set forth in this Section for determining whether a Member has breached this Agreement. 3 The Sector shall be entitled to the remedies set forth in this Section if a Member is determined by the 4 Sector to have breached this Agreement. Each Member shall take all actions and execute all documents 5 the Manager deems necessary or convenient to give effect to the provisions of this Section.
6 10.1. Liquidated Damages Schedule and Schedule Amendments. NA
7 10.2. Enforcement Committee. Not less than one hundred twenty (120) days 8 prior to each annual Northeast multispecies groundfish season opening date (the “Season Opening 9 Date”), the Manager shall call a meeting of the Board to appoint the Enforcement Committee for the 10 upcoming year, and to address any other matters of Sector business properly before the Board. The 11 Board shall meet for those purposes not less than ninety (90) days prior to the Season Opening Date, 12 and at such meeting shall appoint an Enforcement Committee composed of five (5) persons. If the 13 Board fails to do so, the Manager shall appoint the Enforcement Committee. The Enforcement
Breach and Remedies for Breach. The benefits associated with Sector membership 20 will only accrue to the Members if each of them strictly complies with this Agreement. Each
Breach and Remedies for Breach. 1. The occurrence of any of the following events (whether attributable to the Applicant or any other person) shall constitute an event of default immediately:
(i) The Applicant fails to pay any sum payable under this Contract or any other relevant document for more than three (3) Banking Days.
(ii) The Applicant is in material breach of any obligation or covenant under this Contract or any relevant document under this credit line, as reasonably determined by the Issuing Bank and certified by the relevant written proof.
(iii) The Applicant is in breach of any covenant under this Contract or any relevant document, and if such breach can be cured in reality in the opinion of the Issuing Bank or as deemed by the Issuing Bank, the Applicant fails to make a proposal for such cure or make a satisfactory cure as required by the Issuing Bank within thirty (30) days.
(iv) Any representation or warranty made by the Applicant in this Contract, or any financial statement and report provided to the Issuing Bank, is untrue or inaccurate in any respect, or any false material has been provided or any concealment has been made with respect to any material operation or financial
(v) In the opinion of the Issuing Bank, the Applicant has breached any other relevant contract or agreement resulting in the early repayment of the debts of the Applicant hereunder.
(vi) The Applicant has experienced (or in the opinion of the Applicant, may experience) any deterioration in financial condition or any litigation against or by it with respect to dissolution, liquidation, wind-up, bankruptcy, restructuring or reorganization, except as approved or permitted by the Issuing Bank in advance.
(vii) The Applicant is subject to, or in the opinion of the Issuing Bank, may be subject to, wind-up or closedown.
(viii) Any change or revocation (in whole or in part) of any authorization, approval, consent, permit, filing, registration, notarization or any other similar requirement necessary for the performance by the Applicant of any obligation under this Contract or any other relevant document, which in the opinion of the Issuing Bank could have a material adverse effect on the performance by the Applicant of the obligations hereunder or thereunder.
(ix) The Applicant has changed the original purpose of the standby L/C in its sole discretion without the consent of the Issuing Bank, misappropriated the standby L/C or used it for any illegal or noncompliant transaction.
(x) By virtue of a false contra...
