Significant Violation definition
Examples of Significant Violation in a sentence
Should such failure to so qualify have resulted from a Significant Violation, the NSM Members shall be obligated to pay to American II $100,000 (as liquidated damages and not as a penalty).
Should such failure to so qualify have resulted from a Significant Violation, the SNR Members shall be obligated to pay to American III $100,000 (as liquidated damages and not as a penalty).
Further, the breaching Party will indemnify and hold the other Party harmless from and against any claim, liability, fine, penalty, loss, cost, or damage of any kind, including attorney’s fees, that arises as a result of the Significant Violation or such material breach.
Every notice relating to this Agreement shall be in writing and shall be given by personal delivery or by registered or certified mail, postage prepaid, return receipt requested; to: If to the Company: Universal Insurance Holdings, Inc.
Significant Violation, then, upon a complete redemption (including the receipt by the NSM Members of the full redemption price in cash) of the NSM Members’ Interests as set forth in Section 11.4, the Put Right shall be void and unenforceable and the applicable provisions of Section 11.4 shall govern.