Default Charge. The Members agree that the damages suffered by the Company as the result of a default by a Defaulting Member will be substantial and that such damages cannot be estimated with reasonable accuracy. To the maximum extent permitted by law, as a penalty, as permitted by Section 18-502(c) of the Delaware Act and subject to 6.2.2, the Company may cause a Defaulting Member to forfeit up to an additional amount of Common Units equal to 50% of the Common Units such Defaulting Member subscribed for, respectively (the “Default Charge”) after application of 6.2.2(a), which forfeited Common Units may be cancelled on the Company’s books and records or may be transferred to the non-defaulting Members, in each case without any action by the Defaulting Member.
Default Charge the Default Charge, immediately upon its accrual, on:
Default Charge. The Administrative Agent, on behalf of the Series and its non-defaulting Unitholders, shall have the option, exercisable in the sole discretion of the Administrative Agent by written notice to the Defaulting Unitholder after the occurrence of such default, to charge to the Participation balance of such Defaulting Unitholder in all Series of the Trust (allocated among Series to which the Defaulting Unitholder’s Subscription Amounts are allocated as determined by the Administrative Agent) an amount equal to the greater of: (1) 50% of all of such Unitholder’s Capital Contributions made to date; and (ii) 50% of the Unit Value of all Units of each Series allocated to the Defaulting Unitholder, determined as of the date such notice is given (the “Default Charge”). Thereafter, for all purposes the Participation of such Defaulting Unitholder shall be reduced by an amount equal to the Default Charge, and the Participation of each Unitholder not in default hereunder at such time shall be increased by that portion of the Default Charge which such non-defaulting Unitholder’s interest in each Series bears to the total interest of all other Unitholders in such Series not in default at such time. The Administrative Agent shall reflect such reduction and increase by appropriate reduction and increase in ownership of Units of the affected Series by the Defaulting Unitholder and other Unitholders on the registration books of the Series. Notwithstanding the foregoing: (i) the amount by which a Defaulting Unitholder’s Participation is reduced as the result of the imposition of a Default Charge shall in no case exceed the positive balance of such Defaulting Unitholder’s Participation immediately before the reduction; and (ii) in the event that the balance of the Defaulting Unitholder’s Participation cannot be reduced by the full amount of the applicable Default Charge because of the limitation imposed by the preceding clause (i), the excess Default Charge shall be carried over to reduce the Defaulting Unitholder’s Participation (and correspondingly increase the Participations of the Unitholders not in default) as soon as such reduction would be permitted under clause (i).
Default Charge. Company must pay the Default Charge for each unit of Product distributed in violation of the terms of this Agreement. If Company cannot account for Product, those missing Products will be deemed to have been distributed in violation of this Agreement. The parties agree that the unauthorized distribution of Product would result in damages to MS that are impractical and difficult to ascertain. The parties also agree that the Default Charge is a reasonable and genuine estimate of the loss to MS. Payment of the Default Charge shall constitute MS’ sole and exclusive compensatory remedy in case of unauthorized distribution of Product, provided, that this does not limit MS’ ability to seek equitable relief in case of unauthorized distribution of same.
Default Charge. Company must pay the Default Charge for each unit of Product (including COAs) distributed in violation of the terms of this Agreement. If Company cannot account for Product, those missing Products will be deemed to have been distributed in violation of this Agreement. The parties agree that the unauthorized distribution of Product would result in damages to MS that are impractical and difficult to ascertain. The parties also agree that the Default Charge is a reasonable and genuine estimate of the loss to MS. The Default Charge for each Product is *** of the royalty for the Product (excluding discounts and rebates), less any royalty paid. Payment of the Default Charge and any late fees shall constitute MS’ sole and exclusive compensatory remedy in case of unauthorized distribution of Product software, recovery media or COAs, provided, that this does not limit MS’ ability to seek equitable relief in case of unauthorized distribution of same.
Default Charge. Company must pay the Default Charge for each unit of Product distributed in violation of this Agreement by Company, its Channel or OMs. If MS discovers unauthorized distribution by Company or its Channel, it will make commercially reasonable efforts to notify Company. Failure to give notice will not waive the Default Charge. The parties agree that the unauthorized distribution of Product would result in damages to MS that are impractical and difficult to ascertain. The parties also agree that the Default Charge is a reasonable and genuine estimate of the loss to MS. Payment of the Default Charge shall constitute MS’ sole and exclusive compensatory remedy in case of unauthorized distribution of Product software, recovery media or COAs; provided, that this does not limit MS’ ability to seek equitable relief in case of unauthorized distribution of same.
Default Charge. If Tenant shall default in any payment or expenditure other than Annual Base Rent required to be paid or expended by Tenant under the terms hereof, then Landlord may, at its option, make such payment or expenditure in accordance with Section 22. In such event, the amount thereof shall be due and payable as Additional Rent to Landlord by Tenant, together with the next monthly installment of Annual Base Rent, together with interest thereon at a rate equal to the sum of the then prevailing "prime interest rate" (as hereinafter deemed) plus four percent (4%) (but in no event in excess of the highest legal rate) from the date of such payment or expenditure by Landlord until the date of the payment by Tenant, to cover Landlord's loss of the use of the funds and administrative costs resulting from Tenant's failure. No such payment or expenditure by Landlord shall be deemed a waiver of Tenant's default nor shall it affect any other remedy of Landlord by reason of such default. Upon Tenant's failure to pay said Additional Rent together with interest, such interest shall continue for each month or portion thereof outstanding until the date of payment. The "prime interest rate" for purposes of this Lease shall mean the rate of interest announced by the majority of commercial banks doing business in Detroit, Michigan as the "prime interest rate". The "prime interest rate" shall be determined as of the date of Landlord's payment or expenditure.
Default Charge. 6.5.2.1 Imposition. ..
Default Charge. For each day's default in delivering to us a return in accordance with clause 10.2 of the Database Licence you will pay us as liquidated damages to compensate us for our additional administrative effort a fee of £25 per day. Where you are in default in delivering to us returns in accordance with clause 3.1 of the Paper Licence and/or clause 5.2 of the Electronic Licence (as the case may be) you will pay to us in addition the separate default charges due under that Paper Licence and/or Electronic Licence (as applicable).
Default Charge. The Partners agree that the damages suffered by the Partnership as the result of a default by a Defaulting Partner will be substantial and that such damages cannot be estimated with reasonable accuracy. To the fullest extent permitted by law, as a penalty for such default (which each Partner hereby agrees is reasonable), and subject to 6.2.2, the General Partner may cause both the Contribution and Capital Account of a Defaulting Partner to be reduced (but not below zero) by an amount equal to 25% of such Defaulting Partner’s Subscription at the time of the default, and if the General Partner causes such reductions then (solely for purposes of apportioning distributions pursuant to 7.2.2 and apportioning Net Gain or Loss pursuant to 8.2.1) such Limited Partner’s Subscription shall be deemed to have been reduced by an amount proportionate to such reduction in such Limited Partner’s Contribution (the “Default Charge”). If (except for the limitation set forth in the preceding sentence) the Default Charge would exceed either the Contribution of or the existing balance in the Capital Account of the Defaulting Partner at the time of default, then such excess shall carry over and be applied as a reduction at a subsequent time. The amount of any Default Charge levied upon a Defaulting Partner at any time shall immediately become unrestricted funds of the Partnership and shall be allocated:
