Examples of Major Default in a sentence
The Joint Remediation Committee shall have access to Purchaser Personnel that are primarily responsible for the area of the business relationship (such as information technology, data security or regulatory) where the breaches giving rise to the Major Default arise (such Purchaser Personnel, collectively, the “Subject Matter Experts”).
If the Sellers (acting reasonably) determine that the Purchasers have committed a Major Default, then, at the election of the Sellers, within three (3) Business Days of the Sellers providing the Purchasers written notice of such determination, the Sellers and the Purchasers shall establish a joint remediation committee of designated executives from the Sellers and the Purchasers (“Joint Remediation Committee”) consisting of three (3) members of each of the Sellers and the Purchasers.
As a vessel wi t h a P ur se S ei n e c a t ego ry A t l a n t ic t un a s pe r m i t , l a n d B F T s m a lle r t h a n t h e l a r ge m edi u m s ize cl a ss excep t a s specified un de r § 635.23( e)(2).
An Interim Finance Party may, at any time while a Major Default is continuing, set off any matured obligation due and payable by an Obligor under an Interim Document (to the extent beneficially owned by that Interim Finance Party) against any matured obligation due and payable by it to that Obligor, regardless of currency, place of payment or booking branch of either obligation.
The Bidder declares that no previous transgressions occurred in the last 5 years with any other Company in any country conforming to the anti-corruption approach or with Central Government or State Government or any other Central/State Public Enterprises in India that could justify his exclusion from the Tender process.