Contract Breaches Sample Clauses

Contract Breaches. Violation of any provision of this contract may be cause for immediate suspension of logging and hauling operations until remedied to the COUNTY'S satisfaction. In the event of a suspension, the COUNTY reserves the right to require all log load receipt books and brands to be turned in immediately to the County Forestry office. If repeated violations occur, the COUNTY may declare the contract in default and take appropriate action, including but not limited to retaining all or portions of posted performance bond. Suspensions can be lifted only in writing by the COUNTY. In the event of default, the PURCHASER or his employees, sub-contractors, or agents, may be expelled from the sale area. Also, the COUNTY shall have possession of all timber on the sale. When a default occurs, the PURCHASER is still obligated to pay the agreed upon Net Timber Sale Value. Failure to remit payments when due shall be considered a breach of contract. PURCHASER may also be deemed liable for additional damages resulting from the default. All or portions of damages shall be retained from posted performance bond by COUNTY, with outstanding balances above performance bond limit billed to PURCHASER. If the PURCHASER is a party to more than one timber sale contract with the COUNTY and a breach of contract occurs, the COUNTY may apply payments from a sale not in default to one in default. In such an instance, an attempt shall be made to keep the earliest contract paid up to date, even if this creates a default in a later sale. Any default caused by the transfer of funds from one contract to another shall be remedied before cutting may continue. If in the opinion of the COUNTY, the PURCHASER is unable or unfit to complete the contract, the COUNTY may terminate the agreement with ten (10) days advance written notice of such termination. Written notices of contract violations or default shall be by Certified Mail.
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Contract Breaches. Do or omit to do any act (or permit such action or omission) which will cause a material breach of any Contract to which either Seller is a party or by which either Seller is bound.
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Contract Breaches. Violation of any provision of this contract may be cause for immediate suspension of logging and hauling operations until remedied to the COUNTY'S satisfaction. In the event of a suspension, the COUNTY reserves the right to require all log load receipt books and brands to be turned in immediately to the County Forestry office. If repeated violations occur, the COUNTY may declare the contract in default and take appropriate action. Suspensions can be lifted only in writing by the COUNTY. In the event of default, the PURCHASER or his employees, sub-contractors, or agents, may be expelled from the sale area. Also, the COUNTY shall have possession of all timber on the sale. When a default occurs, the PURCHASER is still obligated to pay the agreed upon Net Timber Sale Value. Failure to remit payments when due shall be considered a breach of contract. PURCHASER may also be deemed liable for additional damages resulting from the default. If the PURCHASER is a party to more than one timber sale contract with the COUNTY and a breach of contract occurs, the COUNTY may apply payments from a sale not in default to one in default. In such an instance, an attempt shall be made to keep the earliest contract paid up to date, even if this creates a default in a later sale. Any default caused by the transfer of funds from one contract to another shall be remedied before cutting may continue. If in the opinion of the COUNTY, the PURCHASER is unable or unfit to complete the contract, the COUNTY may terminate the agreement with ten (10) days advance written notice of such termination. Written notices of contract violations or default shall be by Certified Mail.
Sample 1
Contract Breaches. Do or omit to do any act (or permit such action or omission) which will cause a material breach of any Material Contract to which Seller is a party or by which Seller is bound.
Sample 1

Related to Contract Breaches

  • Covenant Breaches The Borrower, any Guarantor or any of their respective Subsidiaries shall fail to (i) perform or observe any covenant contained in Section 5.02(a), Section 5.03, Section 5.06(e), Section 5.09, Section 5.12, or Article VI of this Agreement or (ii) fail to perform or observe any other term or covenant set forth in this Agreement or in any other Loan Document which is not covered by clause (i) above or any other provision of this Section 7.01 if such failure shall remain unremedied for 30 days after the occurrence of such breach or failure;

  • Seller’s Breach Upon discovery by a Responsible Officer of the Master Servicer, the Securities Administrator or the Trustee or notice to the Master Servicer, the Securities Administrator or the Trustee of any defective or missing document (as described in the related Sale Agreement) in a Trustee Mortgage Loan File, or of any breach by any Seller of any representation, warranty or covenant under the related Sale Agreement, which defect or breach materially and adversely affects the value of any Mortgage Loan or the interest of the Trust therein (it being understood that any such defect or breach shall be deemed to have materially and adversely affected the value of the related Mortgage Loan or the interest of the Trust therein if the Trust incurs a loss as a result of such defect or breach),the parties discovering or receiving notice of such defect or breach shall notify the Securities Administrator. Upon discovering or receipt of notice of such breach, the Securities Administrator shall promptly request that such Seller cure such breach and, if such Seller does not cure such defect or breach in all material respects by the end of the cure period specified in such Sale Agreement and any extension of the cure period granted as permitted by such Sale Agreement, shall enforce such Seller’s obligation under such Sale Agreement to purchase such Mortgage Loan from the Trustee. In the event any Servicer has breached a representation or warranty under the related Servicing Agreement that is substantially identical to a representation or warranty breached by a Seller, the Securities Administrator shall first proceed against such Servicer. If such Servicer does not within 60 days (or such other period provided in the related Servicing Agreement) after notification of the breach, either take steps to cure such breach (which may be evidenced by a certificate asking for an extension of time in which to effectuate a cure) or complete the purchase of the Mortgage Loan, then (i) the Securities Administrator, shall enforce the obligations of the Seller under the related Sale Agreement to cure such breach or to purchase the Mortgage Loan from the Trust, and (ii) such Seller shall succeed to the rights of the Securities Administrator to enforce the obligations of the Servicer to cure such breach or repurchase such Mortgage Loan under the Servicing Agreement with respect to such Mortgage Loan. Notwithstanding the foregoing, however, if any breach of a representation or warranty by the Servicer or of a Seller is a Qualification Defect, a cure or purchase must take place within 75 days of the Defect Discovery Date.

  • No Breach of Material Contracts The Target has performed all of the material obligations required to be performed by it and is entitled to all benefits under, and is not alleged to be in default in respect of any contract, except where the failure to so perform or the failure to be entitled to all benefits or such default would not have a Material Adverse Effect on Target. Each of the Material Contracts is in full force and effect, and there exists no default or event of default or event, occurrence, condition or act, with respect to Target or to Target's knowledge with respect to the other contracting party, or otherwise that, with or without the giving of notice, the lapse of the time or the happening of any other event or conditions, could reasonably be expected to (A) become a default or event of default under any Material Contract, which default or event of default could reasonably be expected to have a Material Adverse Effect on Target or (B) result in the loss or expiration of any material right or option by Target (or the gain thereof by any third party) under any Material Contract or (C) result in the release, disclosure or delivery to any third party of any part of the Source Materials (as defined in Section 2.26(m)). True, correct and complete copies of all Material Contracts have been made available or delivered to the Acquiror.

  • Breaches In the event of any alleged breach of this Appendix the matter shall be referred to the Disputes Board in accordance with Clause 12.2.7 of this Agreement.

  • Default; Breach A “Default” is defined as a failure by the Lessee to comply with or perform any of the terms, covenants, conditions or Rules and Regulations under this Lease. A “Breach” is defined as the occurrence of one or more of the following Defaults, and the failure of Lessee to cure such Default within any applicable grace period:

  • No Breaches The Corporation is not in violation of, and the consummation of the transactions contemplated hereby do not and will not result in any material breach of, any of the terms or conditions of any mortgage, bond, indenture, agreement, contract, license or other instrument or obligation to which the Corporation is a party or by which its assets are bound; nor will the consummation of the transactions contemplated hereby cause BMTS to violate any applicable statute, regulation, judgment, writ, injunction or decree of any court, threatened or entered in a proceeding or action in which the Corporation is, was or may be bound or to which any of the Corporation's assets are subject.

  • Event of Breach 7.1 The following circumstances shall be deemed Event of Default:

  • No Conflict, Breach, Violation or Default The execution, delivery and performance of the Transaction Documents by the Company and the issuance and sale of the Securities will not conflict with or result in a breach or violation of any of the terms and provisions of, or constitute a default under (i) the Company’s Articles of Incorporation or the Company’s Bylaws, both as in effect on the date hereof (true and complete copies of which have been made available to the Investor through the XXXXX system), or (ii)(a) any statute, rule, regulation or order of any governmental agency or body or any court, domestic or foreign, having jurisdiction over the Company, any Subsidiary or any of their respective assets or properties, or (b) any agreement or instrument to which the Company or any Subsidiary is a party or by which the Company or a Subsidiary is bound or to which any of their respective assets or properties is subject.

  • Notice of Breaches Each of the Company and the Purchasers shall give prompt written notice to the other of any breach by it of any representation, warranty or other agreement contained in any Transaction Document, as well as any events or occurrences arising after the date hereof which would reasonably be likely to cause any representation or warranty or other agreement of such party, as the case may be, contained therein to be incorrect or breached as of the Closing Date. However, no disclosure by either party pursuant to this Section shall be deemed to cure any breach of any representation, warranty or other agreement contained in any Transaction Document.

  • NO BREACH OF CONTRACT The Executive hereby represents to the Company that: (i) the execution and delivery of this Agreement by the Executive and the performance by the Executive of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or otherwise bound, except for agreements entered into by and between the Executive and any member of the Group pursuant to applicable law, if any; (ii) that the Executive has no information (including, without limitation, confidential information and trade secrets) relating to any other person or entity which would prevent, or be violated by, the Executive entering into this Agreement or carrying out his duties hereunder; (iii) that the Executive is not bound by any confidentiality, trade secret or similar agreement (other than this) with any other person or entity except for other member(s) of the Group, as the case may be.

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