Consequences of non-fulfillment of conditions subsequent Sample Clauses

Consequences of non-fulfillment of conditions subsequent. 3.2.1 In case of a failure to submit the documents as above. NTPC shall have the right to terminate this Agreement by giving a Termination Notice to the SPD in writing of at least seven (7) days. The termination of the Agreement shall take effect upon the expiry of the 7th day of the Notice.
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Consequences of non-fulfillment of conditions subsequent. 3.2.1 In case of a failure to submit the documents as above, SECI shall have the right to terminate this Agreement by giving a notice to the SPD in writing of at least seven (7) days. The termination of the Agreement shall take effect upon the expiry of the 7th day of the above notice.
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Consequences of non-fulfillment of conditions subsequent. 1.02.1 In case of inability of the Seller to fulfill any one or more of the conditions specified in Article 1.01 due to any Force Majeure event, the time period for fulfillment of the Conditions Subsequent as mentioned in Article 1.01, shall be extended for the period of such Force Majeure event.
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Consequences of non-fulfillment of conditions subsequent. 3.3.1 If any one or more of the conditions specified in Article 3.1 and is not duly fulfilled by the Seller, even within two (2) months after the time specified under Article 3.1, otherwise than for the reasons directly attributable to the Procurer or Force Majeure event in terms of Article 3.3.2, then the Procurer shall have the right to terminate this Agreement by giving a Termination Notice to the Seller in writing of at least seven (7) days in advance. The termination of the Agreement shall take effect upon the expiry of the last date of the said notice period (“Termination Date”). If the Procurer elects to terminate this Agreement in the event specified in this Article, the Seller shall be liable to pay to the Procurer on the Termination Date an amount of Rupees equivalent to 10% of the contract value as applicable for a period from the Effective Date till the Expiry Date, as liquidated damages. The Procurer shall be entitled to recover this amount of liquidated damages on the Termination Date, by invoking the Contract Performance Guarantee. If the Procurer is unable to recover the amount of liquidated damages or any part thereof from the Contract Performance Guarantee, the amount of liquidated damages not recovered from the Contract Performance Guarantee, if any, shall be payable by the Seller to the Procurer within ten (10) days from the Termination Date. For the avoidance of doubt, it is clarified that this Article shall survive the termination of this Agreement.
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Consequences of non-fulfillment of conditions subsequent. 3.2.1 In case of a failure to submit the documents as above. Electricity Department Daman shall have the right to terminate this Agreement by giving a Termination Notice to the SPD in writing of at least seven (7) days. The termination of the Agreement shall take effect upon the expiry of the 7th day of the Notice.
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Consequences of non-fulfillment of conditions subsequent. 3.4.1 If any one or more of the conditions specified in Article 3.1 is not duly fulfilled by the Seller, even within one (1) Month after the time specified under Article 3.1, otherwise than for the reasons directly attributable to the Procurer or Force Majeure event in terms of Article 3.4.3, then on and from the expiry of such period and until the Seller has satisfied all the conditions specified in Article 3.1, the Seller shall, on weekly basis, be liable to furnish to the Procurer additional Contract Performance Guarantee from any of the banks listed in Schedule 11 of this Agreement, of Rs. ……………………. (………. )[Insert Amount not less than that derived on the basis of Rs. 1.50 lakhs per MW of Contracted Capacity], which has been provided to the Procurer,within two (2) Business Days of expiry of every such Week. Such additional Contract Performance Guarantee shall initially be valid till the Scheduled Delivery Date, and the Procurer shall be entitled to hold and/ or invoke the Contract Performance Guarantee, including such additional Contract Performance Guarantee, in accordance with the provisions of this Agreement. However, upon satisfaction of the conditions subsequent by the Seller, the additional Contract Performance Guarantee shall be returned by the Procurer.
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Consequences of non-fulfillment of conditions subsequent. 3.2.1 In case of a failure on the part of the SPD to to fulfill the conditions subsequent and/or submit the documents as above, NTPC shall be entitled to encash the Performance Bank Guarantee submitted by the SPD, terminate this Agreement by giving a prior notice to the SPD in writing of at least seven (7) days except when such non fulfillment of condition precedent is due toForce Majeure Event duly notified by SPD. The termination of the Agreement shall take effect upon the expiry of the 7th day of the above notice. Provided that the SPD can seek an extension of time for fulfilling the conditions subsequent without there being any impact on the Scheduled Commissioning Date, by making advance payment of an amount of Rs. 1,000/- per day per MW to NTPC. Any such amount paid by the SPD, shall be returned to the SPD without any interest on achievement of successful commissioning by the Scheduled Commissioning Date. In case of any delay in commissioning of the project beyond the Scheduled Commissioning Date, the amount as deposited along with the Performance Guarantee shall be subject to appropriation by NTPC towards liquidated damages for such delay in commissioning under this Agreement.
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Consequences of non-fulfillment of conditions subsequent. 3.2.1 In case of a failure to fulfill the conditions subsequent and/or submit the documents as above, NHPC shall encash the Performance Bank Guarantee submitted by the SPD, terminate this Agreement by giving a prior notice to the SPD in writing of at least seven (7) days unless due to Force Majeure Event. The termination of the Agreement shall take effect upon the expiry of the 7th day of the above notice. Provided that the SPD can seek an extension of time for fulfilling the conditions subsequent without there being any impact on the Scheduled Commissioning Date, by making advance payment of an amount of Rs. 10,000/- per day per MW to NHPC. Any such amount paid by the SPD, shall be returned to the SPD without any interest on achievement of successful commissioning within the Scheduled Commissioning Date. In case of any delay in commissioning of the project beyond the Scheduled Commissioning Date, the amount as deposited along with the Performance Guarantee shall be subject to appropriation byNHPC towards liquidated damages for delay under this Agreement.
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Consequences of non-fulfillment of conditions subsequent. 3.4.1 If any one or more of the conditions specified in Article 3.1 is not duly fulfilled by the Seller, even within………………………. [Insert as applicable “three (3) Months” in case of long term procurement / “one (1) Month” in case of medium term procurement] after the time specified under Article 3.1, otherwise than for the reasons directly attributable to the Procurer(s) or Force Majeure event in terms of Article 3.4.3, then on and from the expiry of such period and until the Seller has satisfied all the conditions specified in Article 3.1, the Seller shall, on weekly basis, be liable to furnish to the Procurer(s) additional Contract Performance Guarantee from any of the banks listed in Schedule 11 of this Agreement, of Rs. ……………………. (… )[Insert Amount not less than that derived on the basis of Rs. 1.50 lakhs per MW of Contracted Capacity], which has been provided ………………….. [Insert “to the Procurer” or in the case of multiple Procurers: “separately to each of the Procurers for the amount calculated pro- rata (and rounded off to [insert amount]) with the principle that amounts below Rupees [insert amount] shall be rounded down and amounts of Rupees [insert amount] and above shall be rounded up) in the ratio of Contracted Capacities”], within two (2) Business Days of expiry of every such Week. Such additional Contract Performance Guarantee shall initially be valid till the Scheduled Delivery Date, and the Procurer(s) shall be entitled to hold and/ or invoke the Contract Performance Guarantee, including such additional Contract Performance Guarantee, in accordance with the provisions of this Agreement. However, upon satisfaction of the conditions subsequent by the Seller, the additional Contract Performance Guarantee shall be returned by the Procurer(s).
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Related to Consequences of non-fulfillment of conditions subsequent

  • Conditions Subsequent The obligation of the Lender Group (or any member thereof) to continue to make Revolving Loans (or otherwise extend credit hereunder) is subject to the fulfillment, on or before the date applicable thereto, of the conditions subsequent set forth on Schedule 3.6 to this Agreement (the failure by Borrowers to so perform or cause to be performed such conditions subsequent as and when required by the terms thereof (unless such date is extended, in writing, by Agent, which Agent may do without obtaining the consent of the other members of the Lender Group), shall constitute an Event of Default).

  • Consequences of non-compliance If a beneficiary breaches any of its obligations under this Article, the grant may be reduced (see Article 43). Such breaches may also lead to any of the other measures described in Chapter 6.

  • SPECIAL CONDITIONS ARTICLE I.1 - SUBJECT I.1.1. The subject of the Contract is [short description of subject].

  • CONDITION SUBSEQUENT/NON-APPROPRIATION OF FUNDING The compensation paid to CONTRACTOR pursuant to this Agreement is based on COUNTY’S continued appropriation of funding for the purpose of this Agreement, as well as the receipt of local, county, state and/or federal funding for this purpose. The parties acknowledge that the nature of government finance is unpredictable, and that the rights and obligations set forth in this Agreement are therefore contingent upon the receipt and/or appropriation of the necessary funds. In the event that funding is terminated, in whole or in part, for any reason, at any time, this Agreement and all obligations of the COUNTY arising from this Agreement shall be immediately discharged. COUNTY agrees to inform CONTRACTOR no later than ten (10) calendar days after the COUNTY determines, in its sole judgment, that funding will be terminated and the final date for which funding will be available. Under these circumstances, all billing or other claims for compensation or reimbursement by CONTRACTOR arising out of performance of this Agreement must be submitted to COUNTY prior to the final date for which funding is available. In the alternative, COUNTY and CONTRACTOR may agree, in such circumstance, to a suspension or modification of either party's rights and obligations under this Agreement. Such a modification, if the parties agree thereto, may permit a restoration of previous contract terms in the event funding is reinstated. Also in the alternative, the COUNTY may, if funding is provided to the COUNTY in the form of promises to pay at a later date, whether referred to as “government warrants,” “IOUs,” or by any other name, the COUNTY may, in its sole discretion, provide similar promises to pay to the CONTRACTOR, which the CONTRACTOR hereby agrees to accept as sufficient payment until cash funding becomes available.

  • Financial Consequences of Non-Performance If the corrective action plan is unacceptable to the Department or Customer, or fails to remedy the performance deficiencies, the Contractor will be assessed a non-performance retainage equivalent to 10% of the total invoice amount or as specified in the Contract. The retainage will be applied to the invoice for the then-current billing period. The retainage will be withheld until the Contractor resolves the deficiency. If the deficiency is subsequently resolved, the Contractor may invoice the Customer for the retained amount during the next billing period. If the Contractor is unable to resolve the deficiency, the funds retained will be forfeited.

  • Termination of Covenants The covenants set forth in this Section 5 shall terminate and be of no further force or effect (i) immediately before the consummation of the IPO, (ii) when the Company first becomes subject to the periodic reporting requirements of Section 12(g) or 15(d) of the Exchange Act, or (iii) upon a Liquidity Event, as such term is defined in the Restated Certificate, whichever event occurs first.

  • Satisfaction of Conditions Precedent Each party will use commercially reasonable efforts to satisfy or cause to be satisfied all the conditions precedent that are applicable to them, and to cause the transactions contemplated by this Agreement to be consummated, and, without limiting the generality of the foregoing, to obtain all material consents and authorizations of third parties and to make filings with, and give all notices to, third parties that may be necessary or reasonably required on its part in order to effect the transactions contemplated hereby.

  • Default Events and Termination 18.1 Each of the following circumstances shall constitute a General Default:

  • Consequences for Non-Compliance If the Department has reason to believe that the District is not in substantial compliance with one or more of the statutory or regulatory requirements applicable to the District, the Department shall notify the District that it has ninety (90) days after the date of notice to come into compliance. If, at the end of the ninety-day period, the Department finds the District is not substantially in compliance with the applicable statutory or regulatory requirements, meaning that the District has not yet taken the necessary measures to ensure that it meets the applicable legal requirements as soon as practicable, the District may be subject to the interventions specified in sections 00-00-000 through 00-00-000, C.R.S. If the District has failed to comply with the provisions of article 44 of title 22 or article 45 of title 22, the District does not remedy the noncompliance within ninety (90) days and loss of accreditation is required to protect the interests of the students and parents of students enrolled in the District public schools, the Department may recommend to the State Board that the State Board remove the District’s accreditation. If the Department determines that the District has substantially failed to meet requirements specified in this accreditation contract and that immediate action is required to protect the interests of the students and parents of students enrolled in the District’s public schools, the Department may lower the District’s accreditation category.

  • Termination Conditions This Agreement terminates upon the earlier of any of the following events: 18.1. Podmínky ukončení platnosti smlouvy Platnost této smlouvy skončí, jakmile nastane kterákoliv z následujících událostí:

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