Default by the Buyer. The Seller shall be entitled to all remedies, which shall be considered cumulative and not in derogation of one to the other, to which the Seller is entitled under the applicable law governing the Agreement, as well as any further rights or remedies granted under these Sales Terms or the Agreement. Seller shall be entitled to collect any and all lawyer’s fees, third party collection fees, and all reasonable costs and disbursements incurred by the Seller in the event of any breach or default by the Buyer in its performance under the Agreement or these Sales Terms.
Default by the Buyer. AND THE BUILDER 44 (A) DEFINITION OF BUYER’S DEFAULT 44 (B) EFFECT OF BUYER’S DEFAULT ON OR BEFORE THE DELIVERY OF THE VESSEL 44 (C) DEFINITION OF BUILDER’S DEFAULT 46 (D) EFFECT OF BUILDER’S XXXXXXX 00 00. BUYER’S SUPPLIES 47 (A) RESPONSIBILITY OF THE BUYER 47 (B) RESPONSIBILITY OF THE BUILDER 48 13. ARBITRATION 49 (A) DECISION BY THE CLASSIFICATION SOCIETY 49 (B) PROCEEDINGS OF ARBITRATION 49 (C) EXPENSES OF ARBITRATION 50 (D) ALTERATION OF DELIVERY OF THE VESSEL 50 (E) ENTRY IN COURT 50 14. SUCCESSOR AND ASSIGNS 51 (A) ASSIGNMENT BY THE BUYER 51 (B) ASSIGNMENT BY THE BUILDER 51 15. TAXES, DUTIES AND REGISTRATION 52 (A) TAXES AND DUTIES INCURRED IN KOREA: 52 (B) TAXES AND DUTIES INCURRED OUTSIDE KOREA: 52 (C) DUTIES: 52 (D) REGISTRATION: 52 16. PATENTS, TRADEMARKS AND COPYRIGHTS 53 17. INSURANCE 54 (A) EXTENT OF INSURANCE COVERAGE 54 (B) APPLICATION OF THE RECOVERED AMOUNTS 54 (C) TERMINATION OF BUILDER’S OBLIGATION TO INSURE 55 18. INTERPRETATION 56 19. NOTICE 57 20. EFFECTIVENESS OF THIS CONTRACT 58 21. EXCLUSIVENESS 59 EXHIBIT “A” EXHIBIT “B” SHIPBUILDING CONTRACT THIS CONTRACT, made on this 18th day of May by and between Forth Shipco LLC, a corporation incorporated and registered under the laws of Xxxxxxxx Islands, with its principal office at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, MH 96960, Xxxxxxxx Island (hereinafter called the “Buyer”), the party of the first part, and SPP SHIPBUILDING CO., LTD., a corporation organized and registered under the laws of the Republic of Korea, having its principal office at #1988, Chojeon-ri, Sanam-myeon, Sacheon-si, Gyeongsangnam-do, Korea (hereinafter called the “Builder”), the party of the second part.
Default by the Buyer. AND THE BUILDER 44 (A) DEFINITION OF BUYER’S DEFAULT 44
Default by the Buyer. In the event that (a) this Agreement is terminated by the Seller pursuant to Section 8.1(c)(ii) by reason of the failure of the Buyer to satisfy one or more of the conditions set forth in Section 6.2 and (b) all of the conditions set forth in Section 6.1 have been satisfied or offered to be immediately satisfied by the Seller, then the Buyer shall be liable to the Seller for all loss, damage or expense incurred by the Seller as a result of the Buyer's default, and the Seller shall be entitled to seek any remedy to which it may be entitled at law or in equity in the event of a material violation or breach of any agreement, representation or warranty contained in this Agreement (which remedies shall include, without limitation, an injunction or injunctions to prevent breaches of, or to obtain specific performance of any obligation hereunder, without limiting any monetary damages to which the Seller shall be entitled).
Default by the Buyer. In the event the close of escrow and the consummation of the transaction here contemplated do not occur by reason of any default by the Buyer, the Deposit will be disbursed to Seller. The Escrow Holder shall not require the Buyer’s written approval as a condition precedent to the disbursement of the Deposit to the Seller.
Default by the Buyer. The BUYER and SELLER agree that the amount of damages sustainable in the event of a default by the BUYER are not capable of ascertainment. Therefore, in the event that the BUYER, after accepting the YACHT under the terms of this Agreement, fails to fulfill any or all the obligations set forth in Paragraph #10, the deposit shall be retained by the SELLER as liquidated and agreed damages and the BUYER and SELLER shall be relieved of all obligations under the Agreement. This sum shall be divided equally (50% / 50%) between the SELLER and the BROKERS after all expenses incurred against the YACHT by the BUYER have been paid. The BROKERS’ share shall not exceed the amount the BROKERS would have received had the sale been completed.
Default by the Buyer. 9.1. In the event of a delay in, or refusal of, acceptance of delivery continuing for more than 12 (twelve) workdays, DENTSPLY shall be entitled to rescind the contract and sell the goods directly at the Buyer’s expense. DENTSPLY may also decide at its sole discretion to store the respective goods at the expense and at the risk of the Buyer in accordance with the above provisions, and to invoice such goods as duly delivered and accepted. In this case, the purchase price shall become due for payment immediately.
Default by the Buyer. If Buyer fails to make payment for the Products in accordance with Condition 3 or fails to pay any other debt due and payable to Essex or otherwise commits a breach of these Conditions, or if any distress or execution shall be levied upon any of Buyer’s assets, or if Buyer offers to make any arrangement with its creditors, or commits an act of bankruptcy, or if any petition in bankruptcy be presented against Buyer, or if Buyer is unable to pay its debts as they fall due or if, being a limited company any resolution or petition to wind up Buyer (other than for the purpose of amalgamation or reconstruction without insolvency) shall be passed or presented or, if a receiver, administrator, administrative receiver or manager shall be appointed over the whole or any part of Buyer’s business or respect of Buyer, or if Buyer should suffer any analogous proceedings and foreign law, or if Essex has reasonable cause to believe that any of these events is likely to occur then all sums outstanding in respect of the Products shall become due and payable immediately, and Essex may in its sole and absolute discretion and without prejudice to any other rights which it may have: (i) close any account(s) and suspend all future deliveries of Products to Buyer and/or terminate all or part of a Contract with Buyer without liability on its part; and/or (ii) exercise any of its rights pursuant to Condition 7.
Default by the Buyer. Except as otherwise expressly provided in this Agreement, if the Buyer shall fail to perform or comply with any covenant, agreement or condition contained in this Agreement that is required to be performed or complied with by the Buyer on or prior to the Closing Date, then the Seller may seek specific performance of this Agreement or may elect to sue for damages. In the event the Seller elxxxs to sue for specific performance, the Buyer exprxxxly waives any claim or defense that the Seller has an adequate remedy at law. 16.
Default by the Buyer. If the Buyer defaults in or commits any breach of any of its obligations to the Seller or ceases to carry on its business or a substantial part thereof, or if any distress or execution is levied on any of the Buyer’s property, or if the Buyer makes or offers to make any arrangement or composition with its creditors or commits any act or bankruptcy, or if any resolution or petition to wind up the Buyer’s business is passed or presented, or a Receiver appointed of the Buyer’s undertaking, property or assets or any material part thereof, then such event shall be deemed to constitute a breach of contract by the Buyer and the Seller shall be entitled forthwith to terminate this and any other contract with the Buyer and on written notice of such termination being posted by it to the Buyer’s last known address this contract (and if the notice so states every other contract subsisting between the Seller and the Buyer or such contracts as are specified in such notice) shall be terminated and all the Seller’s unpaid invoices to the Buyer shall be immediately due for payment but without prejudice to any claim or right which the Seller might otherwise make or exercise or have against the Buyer.
