Contractual Penalty definition

Contractual Penalty has the meaning as defined in Section 6.8. “XXX” XXX. “XXX” XXX. “XXX” XXX. “XXX” XXX.
Sample 1
Contractual Penalty means the amount equal to the Replacement Cost (as defined later) for the Lender corresponding to a swap or operation of exchange of flows of fixed-variable interest rates (hereinafter, "Swap") under the terms established hereafter. This amount shall be determined by the Lender in good faith and in accordance with the market practices in force, the working day after the "Termination Date". The term "Termination Date" means the date on which any of the scenarios cited in sections A), B), C) or D) above occurs. For the purposes of determining the Swap operation, this would be equal to a hypothetical exchange in Mexican pesos for a theoretical amount equal to the Debt Amount to be paid or prepaid, with the interest payment dates in the Swap being the same ones established in the Sixth Clause of this amendment agreement for the Debt Amount. Assuming in addition that repayment dates and amounts applicable for the Swap are equal to the interest and repayment dates established in the Fifth Clause of this agreement pending to begin as of the Termination Date. However, in the event that any partial prepayment of the Debt Amount is made, the repayment amounts applicable to the Swap will be the ones remaining after this advance payment has been made per the stipulations of the Seventh Clause of this amendment agreement. Under this Swap, the Lender will collect interest calculated at a Fixed Annual Interest Rate equal to 8.30% and payable interest will be calculated at an annual Variable Interest Rate equal to T.I.I.E. [Tasa de Interes Interbancaria de Equilibrio, or Mexican Interbank Equilibrium Interest Rate] (as defined later). The Swap period will be the period which begins on and including the Termination Date and ends on and includes the Termination Date of the Agreement. For the purposes of calculating the Contractual Penalty, in the event that the T.I.I.E. rate no longer exists, the rate set by the Bank of Mexico to replace it shall be applied or, if there is no replacement, the parties shall agree on the new applicable interest rate; with the understanding that if an agreement is not reached with respect to the replacement rate, the CETES [Certificados de la Tesoreria de la Federacion, or Mexican Treasury Bill] rate or the CPP [Costo de Captacion a Plazo de Pasivos, or Cost xx Xaking Term Deposits] rate cited in the "Definitions" section included later in this amendment agreement shall be applied. In all the scenarios cited above, the Lender shall give writte...
Sample 1
Contractual Penalty without distinguishing between same), instructing the Agent to create said deposit to with the Agent, acting as depositary in order to comply with the provisions set forth in Clause Seventh hereof.
Sample 1

Examples of Contractual Penalty in a sentence

  • The Parties agree that Sellers are not entitled to any further claims (specific performance, penalties, compensation etc.) in addition to the Contractual Penalty and the claims under the Corporate Guarantee and that the Contractual Penalty and the Corporate Guarantee shall be the sole remedy.

  • For the avoidance of doubt, this obligation to pay the Contractual Penalty shall apply to each and every individual Closing following the Closing of the Core Portfolio until the last Closing.

  • If the Consultant has duly given a Cure Notification the breach shall be deemed cured and the Company shall be pre-cluded from claiming any Contractual Penalty with respect to such cured breach unless the Company has given a written notice of objection to the Cure Notification within five days after receipt of the Cure Notification describing in reasonable detail the reason why the Company believes the breach was not.

  • If the Consultant has duly given a Cure Notification the breach shall be deemed cured and the Company shall be pre-cluded from claiming any Contractual Penalty with respect to such cured breach unless the Company has given a written notice of objection to the Cure Notification within five days after receipt of the Cure Notification describing in reasonable detail the reason why the Company believes the breach was not cured.

  • In addition, in any of the events of breach described in this paragraph, the Lessee shall pay the Lessor the applicable Contractual Penalty.

  • For each infringement of the covenants made in the following Sections of this Agreement, the Company shall be entitled to the following contractual penalty of the Executive in accordance with article 161 section 1 CO, regardless of the occurrence of actual damages: Section Number Contractual Penalty Sections 12 and 13 CHF 200,000 Sections 14 and 15 CHF 50,000 In addition, Executive owes to the Company full indemnification for all actual damages.

  • In the event of a breach of the Lock Up as set forth in Section 7.1 and Section 7.2 above by one or several of the Buyers, the Buyer or the Buyers (as the case may be) committing such breach shall pay a contractual penalty to the Seller in the amount of 25% (in words: twenty five percent) of the aggregate consideration for the TEREX Common Stock Sale Shares disposed of in such Transaction (hereinafter referred to as the "Contractual Penalty").

  • In the event of a withdrawal, none of the Parties shall have any obligation or incur any liability towards the other Parties except that (i) any obligation of Purchaser to pay the Contractual Penalty or further damages, if any, pursuant to Section 6.6 below, (ii) any liability of any Party for willful behaviour, and (iii) the provisions in Sections 17 through 26 below shall in each case survive and remain in full force and effect.

  • Guarantor hereby unconditionally and irrevocably guarantees to Sellers the due and punctual performance of any payment obligations of Purchaser under this Agreement, in particular the payment of (i) the Purchase Price, (ii) the Intercompany Loan Purchase Price, (iii) any Sellers’ Indemnification Claims and (iv) the Contractual Penalty or any further claims for damages, if any, in accordance with Section 6.6 above.


More Definitions of Contractual Penalty

Contractual Penalty means in respect of each Lease Exhibit, the amount to be paid by the Lessee to the Lessor for breach of its obligations under this Agreement and each Lease Exhibit, plus applicable VAT, as well as the amount to be paid by the Lessee to the Lessor in the event of early termination.
Sample 1

Related to Contractual Penalty

  • Contractual Service means the rendering by a contractor of its time and effort rather than the furnishing of specific commodities. The term applies only to those services rendered by individuals and firms who are independent contractors. Contractual Services do not include auditing services, Maintenance Services, or Professional Services as defined in Section 287.055(2)(a) of the Florida Statutes, and these Rules. Contractual Services also do not include any contract for the furnishing of labor or materials for the construction, renovation, repair, modification, or demolition of any facility, building, portion of building, utility, park, parking lot, or structure or other improvement to real property entered into pursuant to Chapter 255 of the Florida Statutes, and Rules 3.5 or 3.6.

  • Contractual Services are defined as those specified services established within the OAG approved budget for which the Provider is to be paid upon completion at the set rate also established within the OAG approved budget, as authorized expenditures eligible for payment, or reimbursement pursuant to ARTICLE 9, AUTHORIZED EXPENDITURES, of this Agreement.

  • EU Standard Contractual Clauses means: (i) the standard contractual clauses adopted by the European Commission on 4th June 2021 or (ii) such other standard contractual clauses that are approved by the European Commission for Controller to Processor transfers of Personal Data to a third country which has not received an EU Adequacy Decision (and are subsequently incorporated into the DPA). GDPR means the EU General Data Protection Regulation being Regulation (EU) 2016/679.

  • Extra Contractual Obligations shall be defined as those liabilities not covered under any other provision of this Contract and that arise from the handling of any claim on business covered hereunder, such liabilities arising because of, but not limited to, the following: failure by the Company to settle within the Policy limit, or by reason of alleged or actual negligence, fraud or bad faith in rejecting an offer of settlement or in the preparation of the defense or in the trial of any action against its insured or reinsured or in the preparation or prosecution of an appeal consequent upon such action.

  • Standard Contractual Clauses means the clauses attached hereto as Exhibit 1 pursuant to the European Commission’s decision (C(2010)593) of 5 February 2010 on Standard Contractual Clauses for the transfer of personal data to processors established in third countries which do not ensure an adequate level of data protection.

  • Contractual Requirement shall have the meaning provided in Section 8.3.

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • Contract carrier means any person who, under special and individual contracts or agreements, and

  • Baseline actual emissions means the rate of emissions, in tons per year, of a regulated NSR pollutant, as determined in accordance with paragraphs (i) through (iv) of this definition.

  • Medicaid Provider Agreement means an agreement entered into between a state agency or other entity administering the Medicaid program and a health care operation under which the health care operation agrees to provide services for Medicaid patients in accordance with the terms of the agreement and Medicaid Regulations.

  • BREACH OF CONTRACTUAL OBLIGATION means amongst others also the following:

  • Contractual Obligations means, as to any Person, any provision of any security issued by such Person or of any agreement, undertaking, contract, indenture, mortgage, deed of trust or other instrument, document or agreement to which such Person is a party or by which it or any of its Property is bound.

  • Abortion-inducing drug means a drug, medicine, mixture, or preparation, when it is prescribed or administered with the intent to terminate the pregnancy of a woman known to be pregnant.

  • MHSA means the law that provides funding for expanded community Mental Health 22 Services. It is also known as “Proposition 63.”

  • Medicare Provider Agreement means an agreement entered into between CMS (or other such entity administering the Medicare program on behalf of the CMS) and a health care provider or supplier, under which such health care provider or supplier agrees to provide services for Medicare patients in accordance with the terms of the agreement and Medicare Regulations.

  • Assigned Contract has the meaning set forth in Section 1.5(a).

  • Certified Remanufacture System or Verified Engine Upgrade means engine upgrades certified or verified by EPA or CARB to achieve a reduction in emissions.

  • Federal-Aid Contract means a contract in which the United States (federal) Government provides financial funding as so designated in the Information for Bidders.

  • Primary Care Provider (PCP) means a health care professional who is contracted with BCBSAZ as a PCP and generally specializes in or focuses on the following practice areas: internal medicine, family practice, general practice, pediatrics or any other classification of provider approved as a PCP by BCBSAZ. Your benefit plan does not require you to have a PCP or to have a PCP authorize specialist referrals.

  • Contractor / Vendor means the Tenderer whose bid has been accepted and awarded Letter of Acceptance for a specific item followed by the signing of Contract.

  • Medicaid program means the medical assistance

  • Prohibited source means any person or entity who:

  • Medicare Levy Surcharge means an extra charge payable by high income earners beyond the standard Medicare Levy if they do not have qualifying private hospital insurance coverage. This charge is assessed as part of an individual or family’s annual tax return.

  • Pre-Contractual Statement means a draft agreement, undertaking, representation, warranty, promise, assurance or arrangement of any nature whatsoever, whether or not in writing, relating to this Agreement made or given by a Party to this Agreement or any other person at any time prior to the date of this Agreement.

  • Related Party Contract means any relationship, transaction, or expenditure, contractual in nature, which results in or could result in an expenditure of state or federal funds by the Board with a Related Party. The term “Related Party Contract” does not include retail purchases made in the ordinary course of business or payments for utility services.

  • Assumed Contract means any Executory Contract or Unexpired Lease assumed by the Reorganized Debtors in accordance with Article V of the Plan.