Default at Completion Clause Samples

The "Default at Completion" clause defines the consequences and procedures that apply if a party fails to fulfill its obligations by the time a contract or project is completed. Typically, this clause outlines what constitutes a default at the point of completion, such as not delivering goods, failing to meet quality standards, or not making required payments. It may specify remedies available to the non-defaulting party, such as withholding final payment, demanding corrective action, or pursuing damages. The core function of this clause is to ensure accountability at the critical stage of contract completion and to provide clear recourse if obligations are not met as agreed.
Default at Completion. 32 14. WARRANTIES.......................................... 32 15.
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Default at Completion. 13.1 Neither party shall be obliged to complete this Agreement until the other complies fully with the requirements of clauses 3.3 (subject to the provisions of clause 3.6) and clauses 12. 4.1 (A), (B), (C), (D), (F), (H), (I), (L) and (M), 12.4.2 and 12.5 (as appropriate). 13.2 To the extent that Premier Farnell does not comply fully with the requirements of clause 12.4.1(E), (G), (J), and (K) at Completion, Premier Farnell undertakes to satisfy such requirements as soon as practicable following Completion (and in any event within 5 Business Days of Completion) and undertakes to indemnify Arrow (who holds the benefit of such indemnity for itself and as trustee for each of its subsidiaries from time to time (which for the avoidance of doubt shall include the Companies and the Business Purchasers)) for any and all Losses in connection with failure to satisfy such requirements in accordance with this clause.
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Default at Completion. If Completion does not occur on the Completion Date because either the Buyer or any of the Sellers (in each case, the "breaching party", with the other Party being the "non-breaching party") fails to comply with its respective obligations on Completion, the non-breaching party may by written notice to the breaching party:
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Default at Completion 
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Related to Default at Completion

  • At Completion all (but not some only, unless the Subscriber so agrees) of the following business shall be transacted: (a) the Issuer shall issue the Subscription Shares to the Subscriber (or its nominee) free and clear of all Encumbrances and credited as fully paid on terms that they rank pari passu in all respects with the existing issued Shares (including the right to rank in full for all distributions declared, paid or made by the Issuer after the Completion Date) and shall promptly thereafter register (or procure the share registrar to register) the Subscriber as a registered shareholder of the Issuer in respect of the Subscription Shares in the branch register of members of the Issuer maintained by Computershare; (b) the Issuer shall deliver to the Subscriber, each in form and substance to the reasonable satisfaction of the Subscriber: (i) a certified true copy of the Board resolutions approving and/or ratifying the matters below: (A) approving the terms of, and the transactions contemplated by, this Agreement and resolving that the Issuer executes this Agreement; (B) authorising a specified person or persons to execute this Agreement on the Issuer’s behalf; (C) authorising a specified person or persons, on behalf of the Issuer, to sign, execute and/or despatch all documents and notices to be signed, executed and/or despatched by it under or in connection with this Agreement; and (D) a specimen of the signature of each person authorised by the resolution referred to in Clause 4.3(b)(i)(B) above; (ii) the original definitive share certificates in respect of the Subscription Shares in the name of the Subscriber (or its nominee); (iii) a certified true copy of the confirmation letter issued by Computershare confirming that the Subscriber (or its nominee) is the registered holder of the Subscription Shares; (iv) a copy of the approval from the HKSE for the listing of, and permission to deal in, all the Subscription Shares; and (v) a closing certificate, dated as at the Completion Date and addressed to the Subscriber from the Issuer, executed by a Director (or another duly authorised signatory) and substantially in the form set out in Schedule 2, and attaching thereto as exhibits all supporting documents, showing such fulfilment.

  • Substantial Completion 9.8.1 When the Contractor considers that the Work, or a designated portion thereof which has been accepted in writing to by the State, is substantially complete as defined in Subparagraph

  • Diligent Completion The Company agrees to use its reasonable efforts to cause the completion of the Project as soon as practicable, but in any event on or prior to the end of the Investment Period.

  • Substantial Completion Date Substantial Completion of the Work as defined in Article 6.1.2 of the General Conditions to the Continuing Contract for Construction Management shall be achieved by July 31, 2022.

  • Final Completion The full and final completion of all Work in accordance with the Contract Documents.