Liquidated Damages Security Sample Clauses

Liquidated Damages Security. The Board may require that a Member that has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit securing such Member’s payment and performance obligations under this Agreement in such amounts as the Board deems appropriate, or may require such Member to personally guaranty, and/or have other Members or third parties personally guaranty, such Member’s payment and performance obligations under this Agreement.
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Liquidated Damages Security. The Board may require that a member that has two or more 40 NOAA fishing regulation violations, or which has breached this agreement or another sector’s 41 operations plan on two or more occasions, post a bond or obtain a letter of credit securing such 42 member’s payment and performance obligations under this agreement in such amounts as the 43 Board deems appropriate, or may require such member to personally guaranty, and/or have other 44 members or third parties personally guaranty, such member’s payment and performance 45 obligations under this agreement.
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Liquidated Damages Security. The Board may require that a Member that 2 has two (2) or more NMFS fishing regulation violations, or which has breached this Agreement or 3 another sector’s operations plan on two (2) or more occasions, post a bond or obtain a letter of credit 4 securing such Member’s payment and performance obligations under this Agreement in such amounts 5 as the Board deems appropriate, or may require such Member to personally guaranty, and/or have 6 other Members or third parties personally guaranty, such Member’s payment and performance 7 obligations under this Agreement. 9 monitor the Members’ compliance with the terms and conditions of this Agreement. If the Manager 10 becomes aware of an apparent breach of this Agreement by a Member, the Manager shall investigate 11 the matter, and if the Manager concludes that a Member has breached this Agreement, the Manager 12 shall notify such Member of the apparent breach and (if such breach is reasonably susceptible of cure) 13 provide such Member with an opportunity to cure the breach. If such Member fails to demonstrate to 14 the Manager, in the Manager’s sole and absolute discretion, that no breach occurred, or to cure the 15 breach within the time period directed by the Manager, taking into account the magnitude of the 16 breach and the potential consequences of the breach for the Sector and the other Members, the 17 Manager shall notify the Member in writing that the Manager is referring the alleged breach to the 18 Enforcement Committee, and shall notify the Enforcement Committee in writing of the alleged breach 19 and the proposed liquidated damages. Pursuant to Section 14, below, if during the investigation, notice 20 and cure period described above, the Manager concludes it is necessary for the protection of the 22 in apparent breach, and if such Member fails to cause the vessels harvesting its Harvest Share to 23 immediately stop fishing , the sector manager may take any action he/she deems necessary including 24 without limitation, self-help or court action which may include the seeking of injunctive relief.
Sample 1

Related to Liquidated Damages Security

  • Liquidated Damages The Company’s obligations to pay any partial liquidated damages or other amounts owing under the Transaction Documents is a continuing obligation of the Company and shall not terminate until all unpaid partial liquidated damages and other amounts have been paid notwithstanding the fact that the instrument or security pursuant to which such partial liquidated damages or other amounts are due and payable shall have been canceled.

  • Liquidated Damages for Delay In addition to the Contractor bearing the actual cost of correcting any non-compliant work or any other actual damages resulting from Contractor’s breach of this Agreement, the Contractor agrees to pay the Contractor delay damages in the amount of $500.00 per day for every day that the goods and/or services to be provided pursuant to this Agreement have not been timely delivered to the District in compliance with the Scope of Services set forth above, unless the delay has been properly excused by the terms of this Agreement. The parties agree that the District’s actual damages for delay are difficult to estimate and that this $500.00 per day sum is a reasonable pre-estimate of the District’s actual damages for each day of delay and that the is $500.00 per day sum is intended by the parties to be in the nature of liquidated damages, not a penalty. It is not the parties’ intent for this provision to limit either party’s remedies against the other for the breach of this Agreement, except for the District’s money damages for unexcused delays caused by the Contractor.

  • Withholding for unpaid wages and liquidated damages The FHWA or the contacting agency shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld, from any moneys payable on account of work performed by the contractor or subcontractor under any such contract or any other Federal contract with the same prime contractor, or any other federally-assisted contract subject to the Contract Work Hours and Safety Standards Act, which is held by the same prime contractor, such sums as may be determined to be necessary to satisfy any liabilities of such contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set forth in paragraph (2.) of this section.

  • Violation; liability for unpaid wages; liquidated damages In the event of any violation of the clause set forth in paragraph (1.) of this section, the contractor and any subcontractor responsible therefor shall be liable for the unpaid wages. In addition, such contractor and subcontractor shall be liable to the United States (in the case of work done under contract for the District of Columbia or a territory, to such District or to such territory), for liquidated damages. Such liquidated damages shall be computed with respect to each individual laborer or mechanic, including watchmen and guards, employed in violation of the clause set forth in paragraph (1.) of this section, in the sum of $10 for each calendar day on which such individual was required or permitted to work in excess of the standard workweek of forty hours without payment of the overtime wages required by the clause set forth in paragraph (1.) of this section.

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