Default; Notice; Termination Clause Samples

The "Default; Notice; Termination" clause defines the process and consequences when one party fails to fulfill its contractual obligations. Typically, it outlines what constitutes a default, the requirement for the non-breaching party to provide written notice of the default, and a period during which the breaching party can remedy the issue. If the default is not cured within the specified timeframe, the clause allows the non-breaching party to terminate the agreement. This clause ensures that both parties have a clear, fair process for addressing breaches and provides a structured method for ending the contract if problems are not resolved.
Default; Notice; Termination. In accordance with Section 17.21.120 of the Fruita Municipal Code, in the event of any default or breach by the Developer of an applicable covenant, term, condition, or obligation under this Agreement, and if such default or breach continues after notice thereof and opportunity of a hearing as set forth in subsection 9.6 of this Agreement and subsection 17.21.100(E) of the Fruita Municipal Code, this Agreement may be forthwith terminated, at the option of the City. Any declaration of termination of the Agreement shall be effective only after and upon a resolution to that effect duly adopted by the City Council. All rights concerning remedies or attorney's fees shall survive any termination of this Agreement.
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Default; Notice; Termination. If BOOKNOOK fails to perform any of the obligations under this Agreement and does not cure such default within 30 days after notice for the Village of such failure, the Village may terminate this Agreement on not less than 7 days' written notice to BOOKNOOK, provided, however, if such default is of such a nature that it cannot be completely cured within 30 days, then BOOKNOOK shall have a reasonable additional period, not to exceed 30 days (60 days to cure in total), provided BOOKNOOK promptly: (i) gives notice to the Village that it cannot cure within the first 30 days, but intends to cure; (ii) commences cure within the 30 day notice period; and diligently pursues cure thereafter, BOOKNOOK shall have such additional time to cure its failure. The foregoing notwithstanding, if the failure is a breach of BOOKNOOK’s insurance obligations hereunder, or if the failure threatens imminent harm of bodily injury or material property damage, the cure period shall be 3 days, during which time BOOKNOOK shall take reasonable efforts to mitigate the condition giving rise to the default, and to protect the public from harm. If BOOKNOOK fails to cure its breach, the Village may terminate this Agreement by written notice to BOOKNOOK, effective 7 days from the date of that notice.
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Default; Notice; Termination. If the County defaults in the performance of any of the terms, covenants or conditions of this Agreement, the Village may give the County a written notice of such default, and if the County does not cure such default within thirty (30) days after the giving of such notice, or if such other default is of such nature that it cannot be completely cured within thirty (30) days, then Village may terminate this Agreement on not less than seven (7) days' prior written notice to the County, and on the date specified in said notice the term of this Agreement shall terminate, at which time Association shall then quit and surrender the Premises and Facilities to Village except that the Association shall remain and continue to remain liable as hereinafter provided. If this Agreement shall have been so terminated by Village may at any time thereafter resume and retake possession of the Premises and Facilities by any lawful means.
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Default; Notice; Termination. If the Book Nook Gardens defaults in the performance of any of the terms, covenants or conditions of this Agreement, the Village may give the Book Nook Gardens a written notice of such default, and if the Book Nook Gardens does not cure such default within thirty (30) days after the giving of such notice, or if such other default is of such nature that it cannot be completely cured within thirty (30) days, then Village may terminate this Agreement on not less than seven (7) days' prior written notice to the Book Nook Gardens, and on the date specified in said notice the term of this Agreement shall terminate, at which time Book Nook Gardens shall then quit and surrender the Premises and Facilities to Village except that the Book Nook Gardens shall remain and continue to remain liable as hereinafter provided. If the Village finds an alternate tenant to occupy this unit during this lease, the Village has the option to terminate this lease agreement by providing Book Nook Gardens with a thirty (30) day advance written notice. If this Agreement shall have been so terminated the Village may at any time thereafter resume and retake possession of the Premises and Facilities by any lawful means.
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Related to Default; Notice; Termination

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately. b. If the Purchaser defaults in complying with any of these Conditions of Sale or in payment of any sums payable, then the Assignee may (without prejudice to its rights for specific performance) treat such default as a repudiation of the contract and terminate the sale by giving the Purchaser written notice thereof, in which event all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately. c. In the event of the sale being set aside for any reason whatsoever by the Assignee or by an Order of Court (other than that due to any act of default and/or omission by the Purchaser), then such sale shall be cancelled and become null and void and of no further effect wherein only monies paid by the Purchaser towards the account of the purchase price shall be refunded to the Purchaser free of interest less costs and fees incurred by the Assignee in connection with or relating to the sale. The Purchaser shall not be entitled to an account thereof or any claim or demand whatsoever against the Assignee, the Assignee’s Solicitors, the Auctioneer or their respective servants or agents on the above. A certificate by an officer of the Assignee verifying such expenses and/or fees shall be final and conclusive and shall be binding on the Purchaser. Upon payment by the Assignee herein, the Purchaser shall have no other or further claims, or demands whatsoever in nature and howsoever caused against the Assignee, the Assignee’s Solicitors and the Auctioneer or their respective servants or agents. d. If in the meanwhile the Purchaser has entered into possession of the Property, then the Purchaser is liable at own costs to reinstate the Property and thereafter peaceably to yield up vacant possession of the Property to the Assignee within fourteen (14) days from the date of notification of such termination failing which the Purchaser shall pay the Assignee interest/compensation charges at the rate of 10% per annum on the total purchase price calculated on daily basis from the date of such notification to the date of actual delivery of vacant possession and the Assignee reserves its right to take all further necessary steps or actions to recover or resume possession of the Property at the Purchaser’s costs and expenses. In the event the sale is terminated for any reason whatsoever, the Assignee shall not be liable to the Purchaser for the cost of any improvements to the Property carried out by the Purchaser. The costs to reinstate the Property (if any damage is caused by the Purchaser in possession thereof) or expenses to recover possession of the Property from the Purchaser shall be deducted and set-off against the monies paid herein towards account of the purchase price and thereafter in the event there is any residue, the said residue shall be refunded to the Purchaser free of interest or if the monies paid are not sufficient to cover all such costs and expenses, the Purchaser shall then reimburse and pay the balance amount outstanding to the Assignee failing which the Assignee shall be entitled to take all further necessary steps or actions to recover the same. For this purpose a certificate duly signed by an officer of the Assignee verifying the amount of such costs and expenses shall be accepted by the Purchaser as correct and conclusive. It shall be deemed final and binding upon the Purchaser. e. Subject as aforesaid, the Purchaser shall not be entitled to nor have any or further reimbursements, claims, demands or legal recourses of action or remedies whatsoever in nature and howsoever caused against the Assignee, the Assignee’s Solicitors, the Auctioneer or their respective servants or agents or any other party on account thereof. f. The Purchaser or the Purchaser’s Solicitors shall return or cause to be returned the Assignment or the Memorandum of Transfer and other documents to the Assignee with the Assignee’s interest intact PROVIDED ALWAYS THAT if the Assignment or the Memorandum of Transfer has been adjudicated and stamped, the Purchaser or the Purchaser’s Solicitors shall surrender the same to the relevant authorities to obtain a refund of the stamp duty paid and for cancellation of the same. g. The Assignee shall be at liberty to put up the Property for sale again at a time, place and reserve price to be fixed by the Assignee at its sole discretion or to dispose of and/or otherwise deal with the Property in whatsoever manner the Assignee shall think fit without further reference to the Purchaser. The costs and expenses of in connection with and resulting from such resale together with any deficiency in the price resulting from the resale or the purchase price if there is no resale (as the case may be) shall be recoverable from the defaulting Purchaser. For this purpose a certificate duly signed by an officer of the Assignee verifying the amount of such costs and expenses shall be accepted by the Purchaser as correct and conclusive. It shall be deemed final and binding upon the Purchaser.

  • Termination Event; Notice The Purchase Contracts and all obligations and rights of the Company and the Holders thereunder, including, without limitation, the rights of the Holders to receive and the obligation of the Company to pay any Contract Adjustment Payments or any Deferred Contract Adjustment Payments, and the rights and obligations of the Holders to purchase shares of Common Stock, will immediately and automatically terminate, without the necessity of any notice or action by any Holder, the Purchase Contract Agent or the Company, if, on or prior to the Purchase Contract Settlement Date, a Termination Event shall have occurred. Upon the occurrence of a Termination Event, the Company shall promptly but in no event later than two Business Days thereafter give written notice thereof to the Purchase Contract Agent, the Collateral Agent, and to the Holders at their addresses as they appear in the Security Register. Upon and after the occurrence of a Termination Event, the Units shall thereafter represent the right to receive the Debentures underlying the Applicable Ownership Interest in Debentures or the Applicable Ownership Interest in the Treasury Portfolio, as the case may be, forming a part of such Units in the case of Corporate Units, or Treasury Securities in the case of Treasury Units, in accordance with the provisions of Section 4.3 of the Pledge Agreement.

  • Default Notice As soon as possible and in any event within two days after the occurrence of each Default or any event, development or occurrence reasonably likely to have a Material Adverse Effect continuing on the date of such statement, a statement of the chief financial officer of the Borrower setting forth details of such Default and the action that the Borrower has taken and proposes to take with respect thereto.

  • SUSPENSION & TERMINATION FOR DEFAULT Enterprise Services may suspend Contractor’s operations under this Contract immediately by written cure notice of any default. Suspension shall continue until the default is remedied to Enterprise Services’ reasonable satisfaction; Provided, however, that, if after thirty (30) calendar days from such a suspension notice, Contractor remains in default, Enterprise Services may terminate Contractor’s rights under this Contract. All of Contractor’s obligations to Enterprise Services and Purchasers survive termination of Contractor’s rights under this Contract, until such obligations have been fulfilled.

  • Additional Termination Event If any "Additional Termination Event" is specified in the Schedule or any Confirmation as applying, the occurrence of such event (and, in such event, the Affected Party or Affected Parties shall be as specified for such Additional Termination Event in the Schedule or such Confirmation).