Fraud or Wilful Misconduct definition

Fraud or Wilful Misconduct with respect to any Party or Risk Pool IPD Team Member means the fraud or Wilful Misconduct of any of such Party's or Risk Pool IPD Team Member’s Senior Officers or employees.
View Source

Examples of Fraud or Wilful Misconduct in a sentence

  • If it is determined, by litigation, arbitration or otherwise, that a termination by Owner of a Party for default was unjustified hereunder and that Owner was in breach of this Agreement for so terminating such Party and was not the result of Fraud or Wilful Misconduct, the termination shall be deemed a Termination for Convenience and such Party's remedies shall be limited to those provided for a Termination for Convenience.

  • In addition, in case of termination of the Agreement following an Event of Default where the Seller is the defaulting party or an Event of Gross Negligence, Fraud or Wilful Misconduct in accordance with Section 12.01 or a Force Majeure in accordance with Section 14.03, the Seller shall reimburse to the Buyer the Advance Payment.