Default by Third Party Sample Clauses
The 'Default by Third Party' clause defines the consequences and procedures that apply when a third party involved in a contract fails to fulfill their obligations. Typically, this clause outlines what constitutes a third-party default, such as a subcontractor failing to deliver goods or services on time, and specifies the rights and remedies available to the non-defaulting party, which may include suspension of performance, termination, or seeking damages. Its core practical function is to allocate risk and provide a clear framework for addressing disruptions caused by parties outside the direct contractual relationship, thereby protecting the interests of the contracting parties.
Default by Third Party. So far as the Seller is aware, no other party to any agreement to which a Target Entity is a party is in default, or would be in default but for the requirements of notice or lapse of time, under that agreement.
Default by Third Party. So far as the Seller is aware, no other party to any agreement to which a Target Entity is a party is in default, or would be in default but for the requirements of notice or lapse of time, under that agreement, where such default will, or would reasonably be likely to, have a Material Adverse Effect on Stayz Group. Schedule 2 Warranties
Default by Third Party. So far as the Seller is aware, no other party to any Material Contract to which a Target Group Company is a party is in material default under that agreement.
Default by Third Party. So far as the Seller is aware, no other party to the Contract is in default, or would be in default but for the requirements of notice or lapse of time, under the Contract.
Default by Third Party. So far as the Seller is aware, no other party to any material agreement to which the Seller or the Operator is a party (including the ▇▇▇▇▇ Shoal JOA) is in default, or would be in default but for the requirements of notice or lapse of time, under that agreement, where such default will, or would reasonably be likely to, have a Material Adverse Effect.
Default by Third Party. So far as the Warrantor is aware, no other party to any agreement to which a Target Entity is a party is in default, or would be in default but for the requirements of notice or lapse of time, under that agreement, where such default will, or would reasonably be likely to, have a material adverse effect on the Ingeus Group.
Default by Third Party. So far as the Sellers are aware, no other party to any agreement to which the Company is a party is in default, or would be in default but for the requirements of notice or lapse of time, under that agreement, where such default will, or would reasonably be likely to, have a material adverse effect on the Company.
Default by Third Party. So far as the Seller is aware, no party to a Material Contract other than the Manager, the Target Entity is in default, or would be in default but for the requirements of notice or lapse of time, under that Material Contract.
Default by Third Party. No person with whom any Group Company has entered into any agreement or arrangement of the type referred to in Warranty paragraph 9.2 of this Schedule 5 (including the top fifteen contracts for various Group Companies and the top five property management contracts for the Group referred to at paragraph 9.2) is in default thereunder or has not complied with its obligations as stated therein, being a default or a non-compliance which would have an adverse effect on such Group Company and so far as the Seller is aware, there are no circumstances likely to give rise to any such default or non-compliance.