Compensation and default Clause Samples
Compensation and default. 5.1 The Party breaching the Agreement (the “Breaching Party”) agrees to compensate the other party (the “Observant Party”) for all damages, losses and expenses (including but not limited to legal fees and expenses and investigation costs of power claims occurring or incurred due to the Breaching Party’s violation of any clause hereof. Such compensation shall not influence other rights or reliefs granted to the Observant Party under applicant laws or generated under any other agreement about the said violation concluded among the Parties. Rights and reliefs enjoyed by the Observant Party due to the said violation shall survive the abolishment, termination or completion of performance of the Agreement.
Compensation and default. 5.1 The Party breaching the Agreement (the “Breaching Party”) agrees to compensate the other party (the “Observant Party”) for all damages, losses and expenses (including but not limited to legal fees and expenses and investigation costs of power claims occurring or incurred due to the Breaching Party’s violation of any clause hereof. Such compensation shall not influence other rights or reliefs granted to the Observant Party under applicant laws or generated under any other agreement about the said violation concluded among the Parties. Rights and reliefs enjoyed by the Observant Party due to the said violation shall survive the abolishment, termination or completion of performance of the Agreement.
5.2 In addition to the aforesaid agreements, if the Buyer delays the payment of any sum/phase of Purchase Price hereunder, the Buyer shall pay the Seller 0.1% of payable but outstanding monies as late fees for each day of delay.
Compensation and default