Breach of Material Obligations Sample Clauses

Breach of Material Obligations. In the event a Party fails to perform any of its material obligations under this Agreement, the non-breaching Party has given written notice to the other Party of such failure to perform, and the breach is not cured within a sixty day period from receipt of the notice, the non-breaching Party may terminate any and all of its obligations to provide maintenance and support, as set forth in Section 5, to the breaching Party.
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Breach of Material Obligations. Failure by either party to comply with any of the material obligations contained in this Agreement shall entitle the other party to give to the party in default notice specifying the nature of the default and requiring such party to cure such default. If the party receiving such notice disagrees with the existence, extent or nature of the default, the issue shall be referred to arbitration pursuant to Section 9.10 for a decision regarding the existence, extent or nature of the default, cure and remedy therefor. If such default is not cured within 60 days or after the determination pursuant to arbitration (or, if such default cannot be cured within such 60 day period and the party in default does not commence and diligently continue actions to cure such default), the notifying party shall be entitled, without prejudice to any of its other rights conferred on it by this Agreement, to all remedies available to it by law or in equity, including without limitation, the termination of this Agreement.
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Breach of Material Obligations either of the Borrowers commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 8.2 or 8.3 or any of the Collateral Guarantors or, as the case may be, the Manager or any other person fails to obtain and/or maintain the Insurances for any of the Mortgaged Ships or if any insurer in respect of such Insurances cancels the Insurances or disclaims liability by reason, in either case, of mis-statement in any proposal for the Insurances or for any other failure or default on the part of any of the Collateral Guarantors or any other person or any Transaction Guarantor commits any breach or omits to observe any of the obligations or undertakings expressed to be assumed by such Transaction Guarantor under clause 5 of each Transaction Guarantee to which it is a party; or
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Breach of Material Obligations either Borrower commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 8.1.5 or 8.2 or the Corporate Guarantor commits any breach of or omits to observe any of the obligations or undertakings expressed to be assumed by it under clauses 5.1.4, 5.2 or 5.3 of the Corporate Guarantee; or
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Breach of Material Obligations. Failure by either party to comply with any of the material obligations contained in this Agreement shall entitle the other party to give to the party in default notice specifying the nature of the default and requiring such party to remedy such default. If such default is not remedied within ninety (90) days (or, if the default cannot be remedied within such ninety day period and the party in default does not commence and diligently continue actions to remedy such default), the notifying party shall be entitled, without prejudice to any of its other rights conferred on it by this Agreement, to all remedies available to it by law or in equity, including, without limitation, the termination of this Agreement.
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Breach of Material Obligations. The Borrower does not comply with the provisions in Clause 2.2 (Purpose), Clause 8.4.1 (Mandatory prepayment additional Security), Clause 12 (Security), Clause 14.3 (Notification of Default), Table of Contents Clause 14.4 (Other information) (except for Clauses 14.4.1 (b) and (c)), Clause 15.4 (Negative pledge), Clause 15.5 (Change of business, mergers, disposals and acquisitions), Clause 15,8 (Subordinated loans) or Clause 16 (Financial Covenants) or any requirement set out therein is not satisfied.
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Related to Breach of Material Obligations

  • Other Material Obligations Default in the payment when due, or in the performance or observance of, any material obligation of, or condition agreed to by, any Loan Party with respect to any material purchase or lease of goods or services where such default, singly or in the aggregate with all other such defaults, might reasonably be expected to have a Material Adverse Effect.

  • Breach of other obligations any Security Party commits any breach of or omits to observe any of its obligations or undertakings expressed to be assumed by it under any of the Security Documents (other than those referred to in clauses 10.1.1 and 10.1.2 above) unless such breach or omission, in the opinion of the Agent (following consultation with the Banks) is capable of remedy, in which case the same shall constitute an Event of Default if it has not been remedied within fifteen (15) days of the occurrence thereof; or

  • Material Breach of Contract In the event Contractor fails to deliver the product and services as contracted for herein, to the satisfaction of the City of Sparks or otherwise fails to perform any provisions of this Contract, the City, after providing five (5) days written notice and Contractor’s failure to cure such breach within the time specified in the notice, may without waiving any other remedy, make good the deficiencies and deduct the actual cost of providing alternative products and/or services from payment due the Contractor. Non-performance after the first notice of non-performance shall be considered a material breach of contract.

  • Breach of Obligations The Parties acknowledge that a breach of any of the obligations contained herein would result in injuries. The Parties further acknowledge that the amount of the liquidated damages or the method of calculating the liquidated damages specified in this Agreement is a genuine and reasonable pre-estimate of the damages that may be suffered by the non-defaulting party in each case specified under this Agreement.

  • Failure to Perform Obligations In the event Business Associate fails to perform its obligations under this Agreement, Covered Entity may immediately discontinue providing PHI to Business Associate. Covered Entity may also, at its option, require Business Associate to submit to a plan of compliance, including monitoring by Covered Entity and reporting by Business Associate, as Covered Entity in its sole discretion determines to be necessary to maintain compliance with this Agreement and applicable law.

  • No Breach of Obligations The Developer shall not be considered to be in breach of its obligations under this Agreement nor shall it incur or suffer any liability if and to the extent performance of any of its obligations under this Agreement is affected by or on account of any of the following:

  • Breach of Covenant The Borrower breaches any material covenant or other term or condition of the Subscription Agreement or this Note in any material respect and such breach, if subject to cure, continues for a period of ten (10) business days after written notice to the Borrower from the Holder.

  • Breach of Covenants If the Company breaches any of the covenants set forth in this Section 4, and in addition to any other remedies available to the Buyer pursuant to this Agreement, it will be considered an event of default under Section 3.4 of the Note.

  • Breach by Licensee a. The licensee shall have five (5) business days from its receipt of written notice by Producer and/or Producer’s authorized representative to cure any alleged breach of this Agreement by Licensee. Licensee’s failure to cure the alleged breach within five (5) business days shall result in Licensee’s default of its obligations, its breach of this Agreement, and at Producer's sole discretion, the termination of Licensee’s rights hereunder.

  • No Misrepresentation or Breach of Covenants and Warranties There shall have been no material breach by Buyer in the performance of any of its covenants and agreements herein, and each of the representations and warranties of Buyer contained in this Agreement shall be true and correct in all material respects on the Closing Date as though made on the Closing Date. There shall have been delivered to Seller a certificate to such effect, dated the Closing Date and signed by Buyer.

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