DEFAULT BY THE PARTIES. In the event that one party hereto is in material breach of this Agreement, the other party may provide written notice of that breach, and will provide a cure period of not less than 15 days. In the event that the material breach continues beyond the 15 day cure period, the other party will have the right to terminate the Agreement by providing written notice of said termination.
DEFAULT BY THE PARTIES. 15.1 Either party may terminate this Agreement immediately by providing a written notice to the other party if:
DEFAULT BY THE PARTIES. Except for default by reason of force majeure or upon a failure to pay amounts owed when due (in which event fifteen (15) days notice shall be required.) The defaulting party shall have forty-five (45) days from receipt of notice of default to cure any of the following events of default brought to its attention before the notifying party may immediately terminate this Agreement for cause as herein provided: The marketing party fails to provide proper user instructions, or misleading information to users pertaining to the products. The marketing party has forty-five (45) days from notification to correct the instructions and/or misinformation and to so notify customers and exert his best efforts to notify users that were not provided the correct information. It is the responsibility of the manufacture or supplying party of other critical components to establish the performance criteria. Either party becomes insolvent; or ceases to function as a going concern; or ceases to conduct its operation in the normal course of business; or a receiver for it or assignee for benefit of creditors is appointed; suffers an attachment or levy on a substantial portion of its assets; or files for relief under any bankruptcy, reorganization, liquidation or other insolvency proceeding; or it otherwise takes advantage of any insolvency law; or Either party breaches any other material provision of this Agreement.
DEFAULT BY THE PARTIES. 12.1 The PURCHASER shall have the right to cancel this agreement if the construction and/or finishes of the Unit are not as per the Unit floor plan or the schedule of finishes.
DEFAULT BY THE PARTIES. Upon termination of this Agreement as a result of an uncured default by either of the Parties hereto pursuant to Section 5(b) above, any moneys received prior to such event by the Sellers shall be retained by the Sellers, and the Purchased Shares shall be allocated between Buyer and Sellers in proportion to the percentage of Payments that have been made. The Sellers shall receive back from Buyer the unpaid for Purchased Shares (pro rata in proportion to the relative amount sold as set forth in Exhibit A), and the parties shall notify the Authority of the allocation of Members Pipeline Capacity percentages resulting from such allocation. Buyer agrees to execute any documentation which may be required by the Authority to document the re-conveyance of the Purchased Shares and all related interests in the WISE project. If Buyer is in default, Buyer shall not receive any credit or refund for the costs or expenses paid by Buyer attributable to the use of the full Purchased Shares during the time prior to default. If Buyer has failed to make a payment required under this Agreement, Sellers may cure the default upon termination, but Buyer shall continue to be responsible to Sellers for any Late Fees or interest imposed by the Authority under the Organizational Agreement for late payment of costs. If Seller is in default, Buyer shall receive a refund for the costs and expenses paid by Buyer attributable to the use of the full Purchases Shares during the time of default but shall pay the pro-rated portion of such expenses based on the number of Purchased Shares it retains upon allocation of same after default per the above.
DEFAULT BY THE PARTIES. 5.1 If either of the parties commits a breach or breaches of the AGREEMENT or any clause herein, the aggrieved party will, subject to the provisions of 5.3 below, be entitled to cancel the AGREEMENT, or alternatively to enforce the terms of the AGREEMENT.
DEFAULT BY THE PARTIES. In the event the Purchaser fails to pay the Balance Consideration to the Vendor by the Extended Completion Date, the Vendor shall be entitled to forthwith terminate the SPA and to forfeit absolutely the Deposit, together with interest accrued under the terms of the SPA at the time of such forfeiture, and the Vendor shall refund free of interest to the Purchaser the sum, if any, equivalent to the difference between the total aggregate of any part payment of the total purchase price already paid by the Purchaser to the date of such breach less the Deposit, and in simultaneous exchange the Purchaser shall return or cause to be returned to the Vendor the Issue Document of Title, the Transfer and all other documents (unless the Transfer is required to be submitted to the Collector of Stamp Duty for a refund of the stamp duty within fourteen (14) days from the date of the termination) which are still in the possession of the Purchaser, the Purchaser’s solicitors, the Purchaser’s financier or the Purchaser’s financier’s solicitors, whereupon the SPA shall be null and void and of no further legal effect and neither Party shall have any claims against the other save for antecedent breaches, and the Vendor shall be entitled in its absolute discretion to resell the Property either by public auction or by private contract and at such time and place and subject to such conditions and in such manner as the Vendor shall think fit without previously tendering or offering to make any sale to the Purchaser. In the event that the Vendor fails to complete the Proposed Disposal for any reason whatsoever, the Purchaser shall be entitled to the remedy at law for specific performance against the Vendor of any terms of the SPA and to claim damages for the breaches thereto, or to seek a refund from the Vendor of all monies paid under the SPA free of interest, and in simultaneous exchange the Purchaser shall return or cause to be returned to the Vendor the Issue Document of Title, the Transfer and all other documents which are still in the possession of the Purchaser, the Purchaser’s solicitors, the Purchaser’s financier or the Purchaser’s financier’s solicitors, whereupon the SPA shall be null and void and of no further legal effect and neither Party shall have any claims against the other. The total sum payable to the Purchaser shall be paid by the Vendor within fourteen (14) days from the date of the Vendor’s solicitors’ receipt the Purchaser’s termination notice.
DEFAULT BY THE PARTIES. In the event of default by either of the Parties, the non- defaulting Party has the right to terminate this Agreement, in whole or in part, for cause if the non-defaulting Party provides the defaulting Party with written notice of such default and the defaulting Party fails to cure such default to the satisfaction of the non-defaulting Party within thirty (30) business days of receipt of such notice (or a greater time if permitted by the non- defaulting Party). The termination of this Agreement for default shall extinguish all rights, duties, and obligations of the Parties to each other hereunder. The allegation of default shall not relieve either Party from its respective obligations hereunder until such time as this Agreement has been actually terminated as set forth herein.
DEFAULT BY THE PARTIES
