Contractual Penalty. 1. For each instance of contravention of the restraint of competition within the meaning of §10 or of the confidentiality obligation pursuant to § 8, the Member of the Management Board shall pay a contractual penalty in an amount corresponding to the average monthly remuneration received over the 12 months preceding his departure pursuant to § 3, Paragraph 1 of this Agreement.
Contractual Penalty. In the event of failure by the Contractor to meet any Study Milestone and/or supply any Deliverable, the Contractor shall be liable to pay to the Principal a penalty of zero point one percent (0.1%) of the amount of the total Fee payable under this Agreement with respect to the relevant Study period for each day of delay with meeting any of the Study Milestones and/or supplying any of the Deliverables set forth in accordance with Annex C (Schedule of Study); provided, however, that the total amount of penalty payable by the Contractor under this Clause 10.2 for the relevant Works, as specified according to Annex C (Schedule of Study) shall not exceed ten percent (10%) of the total amount of the Fee payable in consideration of such Works. In the event of failure by the Principal to pay any amount in accordance with Clause 6.1, the Principal shall be liable to pay the Contractor a penalty of zero point one percent (0.1%) of the amount of the amount invoiced for each day of delay with meeting the payment obligation; provided, however, that the total amount of penalty payable by the Principal under this Clause
Contractual Penalty. The Client shall pay to PTV for each instance of a culpable breach of the obligations pursuant to these GTC, particularly, but not limited to, the illegitimate use or exploitation of Deliveries and/or a breach of the duties of Secrecy and Safekeeping, a reasonable contractual penalty to be determined by PTV and verified as to its reasonableness by the competent court in case of dispute. PTV reserves the right to claim further damages and to exercise any other rights related to such breach.
Contractual Penalty. 4.1 If as a result of default the Supplier exceeds one or several of the dates/periods agreed upon with it, the Supplier shall pay to us a contractual penalty at the rate of 0.1% of the net contract price for every business day the date/period is exceeded. The amount of the contractual penalty shall be limited – even in the event that several individual dates/periods have been exceeded – to a maximum of 5% of the net contract price.
Contractual Penalty. In the event of failure by the Service Provider to meet any Service Milestone and/or supply any Deliverable, the Service Provider shall be liable to pay to the Principal a penalty of zero point five percent (0.5 %) of the amount of total the Fee payable under this Agreement with respect to the relevant Service period for each day of delay starting from the first delayed day with meeting any of the Service Milestones and/or supplying any of the Deliverables set forth in accordance with Annex C: Schedule of Service provided, however, that the total amount of penalty payable by the Service Provider under this Clause 11.2 for the relevant Works and Service, as specified according to Annex C: Schedule of Service shall not exceed ten percent (10%) of the total amount of the Fee payable in consideration of such Works and Service. In the event of failure by the Principal to pay any amount in accordance with Clause 18.1, the Principal shall be liable to pay the Service Provider a penalty of zero point zero five percent (0.05) of the amount of the amount invoiced for each day of delay with meeting the payment obligation; provided, however, that the total amount of penalty payable by the Principal under this Clause 11.2 shall not exceed ten percent (10%) of the total amount remaining unpaid under the relevant invoice.
Contractual Penalty. Should the Licensee transfer the Software to third parties in violation of the terms of this Agreement or should the Licensee use the Software in a way exceeding the contractual license pursuant to 3b), a contractual penalty in the amount of EUR 10,000.00 is deemed agreed for every infringement event. The assertion of further damage claims remains unaffected.
Contractual Penalty. If the Contractor refuses or fails to duly complete the Assignment after the Assignment Order has been awarded to the Contractor and signed in accordance with this Agreement, the Company is entitled to request the Contractor to pay a contractual penalty in the double amount of the Fee for the respective Assignment. Should the Contractor fail to meet any of the milestones or delivery dates under any of the Assignment Orders and provided that the cause of such delay is attributable to the action or inaction of the Contractor, the Company is entitled to request the Contractor to pay to the Company a contractual penalty of 0.1% (zero point one percent) of the amount of the Fee payable for the respective Assignment to for each day of delay, provided that each such contractual penalty shall not exceed 10% (ten percent) of the Fee payable for the respective Assignment. If the Contractor breaches Clause 20.2, it shall be liable to pay to the Company a contractual penalty in the amount corresponding to thrice (3x) the total sum of the Fee under the Assignment Order if the breach took place in relation with the performance of the Assignment, but not less than EUR 10,000 (ten thousand euros) for each breach of such obligation. Should the Company delay any payment in accordance with Clause 5.8, the Contractor is entitled to request the Company to pay a contractual penalty in the amount of 0.1% (zero point one percent) from the delayed amount for each day of delay, provided that the total amount of such contractual penalty payable by the Company under this Clause 13.2 shall not exceed 10% (ten percent) of the delayed amount. The contractual penalties shall be applied upon the sole discretion of the entitled Party under the Agreement considering the material consequences of the breach. Payment of the contractual penalty shall not release the Party from performance of any of its obligations under the Agreement.
Contractual Penalty. (1) For each breach of the Consultant’s duties under Section 1 para (2) of the Consultancy Contract (except due to death or inability to work by reason of illness or permanent disability), that is continued despite a written warning sent by the Company to the Consultant (“Warning”) and after giving the Consultant a period of 14 days to cure any alleged breach (“Curing Period”), the Consultant shall pay a contractual penalty of US$ 25,000 (in words: Dollar twenty five thousand) to the Company for each calendar day (after the Curing Period) as long as the violation is continued (“Contractual Penalty”). After having received a Warning the Consultant shall notify the Company in writing if he cured the breached (“Cure Notification”). 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 a breach was cured in accordance with the aforesaid sentences, this § 1 shall apply again to any new breach.
Contractual Penalty. In the event of failure by the Service Provider to respond within the required time period to the Principal, to supply any Deliverable, the Service Provider shall be liable to pay to the Principal a penalty of zero point five percent (0.5%) of the amount of Fee payable under this Agreement with respect to the relevant Service period for each day of delay with supplying any of the Deliverables set forth in accordance with Annex D: Payments for Service; provided, however, that the total amount of penalty payable by the Service Provider under this Clause 17.2 for the relevant Works/Services, as specified according to Annex D: Payments for Service shall not exceed ten percent (10%) of the total amount of Fee payable in consideration of such Works/Services. In the event of failure by the Principal to pay any amount in accordance with Clause 16.4, the Principal shall be liable to pay to the Service Provider a penalty of zero point five percent (0.5%) of the amount of the amount invoiced for each day of delay with meeting the payment obligation; provided, however, that the total amount of penalty payable by the Principal under this Clause 17.2 shall not exceed ten percent (10%) of the total amount remaining unpaid under the relevant invoice.
Contractual Penalty. In the event of any breach of the obligations in Sections 9 and 10 of this Agreement, the Executive shall pay a penalty in an amount equivalent to the remuneration pursuant to Section 3.1 received during the twelve calendar months preceding the breach or, if the breach is committed after termination, preceding termination of the employment. In the event of a continuing breach, such penalty shall be due for each month in which the breach occurs. The preceding provisions shall not affect any other claims of the Company resulting from the relevant breach. In the event that the Executive has made contractual payments for a breach of the non-competition provisions of the Share Purchase Agreement between the [purchaser] and the shareholders of Ciao, AG, then any such payment shallbe used to offset the payments due under this section 11, provided that they are due for the same calendar periods.
