Breach Default Termination Clause Samples

Breach Default Termination. A. Breach: A breach of a term or condition of the contract shall mean any one or more of the following events: (1) Contractor fails to perform the services by the date required or by a later date as may be agreed to in a written amendment to the contract signed by the College; (2) Contractor breaches any warranty or fails to perform or comply with any term or agreement in the contract; (3) Contractor makes any general assignment for the benefit of creditors; (4) in the College’s sole opinion, Contractor becomes insolvent or in an unsound financial condition so as to endanger performance hereunder; (5) Contractor becomes the subject of any proceeding under any law relating to bankruptcy, insolvency or reorganization, or relief from creditors and/or debtors; (6) any receiver, trustee, or similar official is appointed for Contractor or any of the Contractor’s property; (7) Contractor is determined to be in violation of federal, State of Washington, or local laws or regulations and that such determination, in the College’s sole opinion renders the Contractor unable to perform any aspect of the contract.

Breach Default Termination. ▇. ▇▇▇▇▇▇▇▇▇▇ Lands’ acceptance of any payments under this Agreement shall never constitute or be deemed to be: (i) a ratification, renewal, or amendment of this Agreement or any Designation of Production Acreage; (ii) a waiver of the rights granted to University Lands, or the obligations imposed upon Developer; or (iii) an estoppel against University Lands preventing the enforcement of University Lands’ rights or Developer’s obligations hereunder or from seeking damages for Developer’s breach of the Agreement. University Lands’ agreement to accept royalty payments directly from any purchaser shall not affect Developer’s obligations to pay royalties to University Lands under this Agreement. No instrument executed by University Lands shall be effective to constitute a ratification, revivor, renewal, extension, or amendment of this Agreement or Designation of Production Acreage unless the instrument is clearly titled to indicate its purpose and intent. b. If Developer violates, fails to perform, or breaches any term or covenant in this Agreement, University Lands shall notify Developer in writing of the violation, failure, or breach. Developer shall have thirty (30) calendar days from receipt of University Lands’ written notice, in which to remedy the violation, failure, or breach. If Developer disputes any claim by University Lands of a breach or default, Developer shall notify University Lands of its dispute as soon as possible, but not later than fifteen (15) calendar days after receipt of University Lands’ notice. The receipt by University Lands of such notice from Developer shall be a condition precedent to University Lands’ right to bring an action for any cause, and in the absence of such notice, no such action shall be brought by University Lands until the expiration of the thirty (30) day notice period to Developer. University Lands may remedy any type of breach or default or, at University Lands’ election, terminate this Agreement (by filing a Release of Agreement as provided in Article 7) if Developer fails to remedy such breach or default within the thirty (30) day period. In addition to any other remedies available to University Lands, University Lands may elect to remedy any breach or default with contemporaneous written notice to Developer if immediate action by University Lands would mitigate or prevent further, avoidable damages or if Developer’s breach or default involves any environmental or regulatory issues. Under those circumstances, De...

Breach Default Termination. 5.1. If the Purchaser fails to pay any part or portion of the Purchase Consideration or MACD within the due date then the Purchaser shall be deemed to be in default / breach from the due date of such payment. In such event the Purchaser shall be liable and obliged to pay to the Developer interest at the rate of 2% per month from the due date upto the date of payment. 5.2. If such default continues for a period of three months then the Developer without prejudice to its rights to claim interest shall be at liberty to serve a notice upon the Purchaser calling upon the Purchaser to remedy such breach or default within a period of 15 days from the date of receipt or deemed receipt of such notice. 5.3. If inspite of such notice, the Purchaser fails to remedy such breach / default then notwithstanding anything contained in this Agreement, the Developer at its sole discretion shall be at liberty to terminate this Agreement. 5.4. Upon such termination [a] all claims of the Purchaser over the said Unit shall stand extinguished and the Vendors shall be at liberty to deal with the said Unit and sell and transfer the same to any other person ; [b] The vendors shall forfeit a sum of Rs 1,00,000/- (One Lac) only towards reimbursement of the administrative and other costs and expenses and the Vendors shall be obliged to refund only the balance amount, if any to the Purchaser; and [c] the Vendors shall be obliged to refund such amount to the Purchaser upon the Purchaser returning or surrendering the original of this Agreement to the Developer. If the original Agreement is lost then the Purchaser shall be entitled to such refund upon the Purchaser affirming an affidavit explaining non availability of the original Agreement and furnishing an indemnity to the satisfaction of the Developer. 5.5. The Purchaser shall also be at liberty to cancel or terminate this Agreement at any time without assigning any reason but prior to issuance of the notice for possession by the Developer as stated in Article 4.2 above subject to the condition that upon such termination the Vendors shall forfeit a sum of Rs 1,00,000/- (One Lac) only against the Purchase consideration received by them and the Vendors shall refund the balance purchase consideration paid by the Purchaser upon the Purchaser surrendering or returning the original of this Agreement to the Developer. The procedure prescribed in the Article 5.4(c) shall apply if the original of this Agreement is lost. 5.6. Upon termination of t...

Breach Default Termination. The Port may terminate this contract, in whole or in part, at any time and for any reason by giving fourteen (14) calendar days written termination notice to Contractor. Termination charges shall not apply unless they are subsequently agreed upon by both parties. Should the parties not agree to a satisfactory settlement, the matter may be subjected to mediation and/or legal proceedings.

Breach Default Termination.  Breach: A breach of a term or condition of the contract shall mean any one or more of the following events: (1) Contractor fails to perform the services by the date required or by a later date as may be agreed to in a written amendment to the contract signed by the state; (2) Contractor breaches any warranty or fails to perform or comply with any term or agreement in the contract; (3) Contractor makes any general assignment for the benefit of creditors; (4) in the state’s sole opinion, Contractor becomes insolvent or in an unsound financial condition so as to endanger performance hereunder; (5) Contractor becomes the subject of any proceeding under any law relating to bankruptcy, insolvency or reorganization, or relief from creditors and/or debtors; (6) any receiver, trustee, or similar official is appointed for Contractor or any of the Contractor’s property; (7) Contractor is determined to be in violation of federal, state, or local laws or regulations and that such determination, in the state’s sole opinion renders the Contractor unable to perform any aspect of the contract.  Default: A Contractor may be declared in default for failing to perform a contractual requirement or for a material breach of any term or condition.  Termination for Convenience: The state may terminate this contract, in whole or in part, at any time and for any reason by giving thirty (30) calendar days written termination notice to Contractor. Termination charges shall not apply unless they are subsequently agreed upon by both parties. Where termination charges are applicable, both parties agree to negotiate in good faith and to limit the extent of negotiations to valid documented expenses incurred by Contractor prior to date of termination. Should the parties not agree to a satisfactory settlement, the matter may be subjected to mediation and/or legal proceedings.  Termination for Breach and/or Default: Except in the case of delay or failure resulting from circumstances beyond the control and without the fault or negligence of the Contractor or of the Contractor’s suppliers or subcontractors, the state shall be entitled, by written or oral notice, to cancel and/or terminate this contract in its entirety or in part for breach and/or for default of any of the terms herein and to have all other rights against Contractor by reason of the Contractor’s breach as provided by law.  Termination by Mutual Agreement: The state or the Contractor may terminate this contract in whole or ...

Breach Default Termination