For Default definition

For Default. Of the Operator: If an Event of Default as described in §9 (a), (b), (c) or (d) occurs or the Operator fails to comply with the terms of this Agreement the City shall notify the Operator in writing of the specifics regarding such noncompliance. If the Operator fails to begin to cure the noncompliance within five (5) days after the notice, the City may terminate the contract by written notice to the Operator within thirty (30) days thereafter and Operator shall only be compensated for services actually completed prior to termination, Operator shall not be entitled to any costs or damages resulting from a termination under this section. Of the City: If an Event of Default as described in§ 9(e) occurs, Operator may terminate this Agreement. No failure or delay by either party in exercising any right, remedy, power or privilege hereunder, nor any single or partial exercise thereof, nor the exercise of any other right, remedy, power or privilege shall operate as a waiver hereof or thereof. All rights, remedies, powers and privileges herein given or granted to the parties are cumulative, non-exclusive and in addition to any and all rights, remedies, powers and privileges that they may have or be given by reason of any law, statute, ordinance or otherwise at law or in equity. In the event the City is required to incur legal expenses and/or court costs due to an Event of Default by Operator, Operator agrees to reimburse the City for reasonable legal expenses and/or court costs incurred as a result thereof.
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Examples of For Default in a sentence

  • For Default diagram notation, the icon means the attribute is a primary key.

  • To Terminate For Default Contractor’s failure to satisfactorily perform any obligation required by this Agreement constitutes a default.

  • Reason For Default A Servicer Code representing the Reason for Default.

  • For Default diagram notation, the icon means the field is a primary key.

  • For Default System Owner Gas, unless prohibited by applicable laws, rules or regulations, the Operator will charge the fees set forth in the Anchor Shipper Gathering Agreement and Operator will redetermine the gathering fee each year as set forth in the Anchor Shipper Gathering Agreement.

  • Reason For Default Servicer Code representing the Reason for Default.

  • If, after being requested by Buyer, the Seller fails to promptly replace or correct any defective product within the delivery schedule, Buyer: (i) may by contract or otherwise, replace or correct such product, and charge to the Seller cost occasioned thereby, (ii) may without further notice terminate an order for default in accordance with the clause hereof entitled "Termination For Default," or (iii) may utilize the deficient product and require an appropriate reduction in price.

  • For Default Contractor’s failure to satisfactorily perform any obligation required by this Agreement constitutes a default.

  • The corresponding ANNUAL PERCENTAGE RATE will be the Index plus the Margin For Default Balances.

  • If the Default Rate is in effect for purchases and cash advances, the daily periodic rate of FINANCE CHARGE for each Billing Cycle shall be computed by adding a margin (“Margin For Default Balances”) to the value of the Index and dividing by 365.

Related to For Default

  • Minor Default means any Event of Default that is not a Major Default.

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p) of this Note.

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • Contractor Default shall have the meaning set forth in Clause 23.1;

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);