Default Penalty. (a) Without limiting the remedies available to IFC under this Agreement or otherwise, if the Borrowers fail to make any payment of principal or interest (including interest payable pursuant to this Section) or any other payment when due:
Default Penalty. The Company may charge the Customer a Default Penalty on any moneys due but unpaid under the Contract which will be calculated on a daily basis at a rate of 1.5 per cent per month. The Default Penalty is payable from the date payment is due until the date the Company receives payment. The Company’s right to charge the Default Penalty is without prejudice to any of the Company’s rights, powers or remedies arising after the Customer’s payment default.
Default Penalty. 46. Any member agreed by the Group to be in default of these agreed rules and/or payments may, on the agreement of the other members at a notified quorate meeting, either lose their membership immediately or agree to pay any proven costs that may be incurred to correct their actions.
Default Penalty. 12.1 Partner acknowledges that Partner shall pay default penalty for breaching the Agreement for any reason attributable to Partner. Partner shall pay default penalty for any delay, non-contractual performance and/or non- performance, violation of HSE rules, failure to provide information and breach of confidentiality obligations.
Default Penalty. If any of the preceding cases of default occurred, the following shall be applied:
Default Penalty. For purposes of this Agreement an Event of Default shall occur if the Registration is not effective on or before the date that is 120 days from the date of Closing for any reason other than actions attributable to an Investor (provided such date shall be extended to 180 days after the date of Closing if the SEC elects to review the Registration Statement filed by the Company, and further provided that if the Company diligently pursues using all reasonable best efforts, as reasonably determined by the auditor, to complete an audit of its financial statements and such audit is not completed within 60 days of the date hereof, such period to complete the audit in excess of 60 days shall be added to the time periods set forth in this paragraph.) If an Event of Default occurs, each Holder (so long as such Holder has complied with its obligations hereunder and under any agreement it may have with the Company with respect to the Common Stock of the Company) shall be entitled to be issued Warrants to purchase shares of Common Stock at an exercise price of $0.01 per share and in an amount equal to 1% of the number of Registrable Securities owned (on an as-if converted basis) by such Holder per month (prorated for partial months) that such Default continues uncured.
Default Penalty. The default by the Client on the payment of the Installments on their respective Payment Date or any other amount owed to the Bank for any reason, payable on the occasion that may correspond under this Loan Agreement, or the configuration of any event that constitutes an Event of Default, shall result in the obligation of the Client to pay, until such time as the Event of Default has been rectified, where applicable, in addition to the compensatory interest agreed to, the Default Penalty, as well as any other additional concept agreed to, plus reimbursement for expenses, Fees accrued and enforceable, services and taxes applicable. For effects of the provisions established in the preceding paragraph, and in accordance with Article 1333, Section 1 of the Civil Code, the Client shall automatically be in default without the need for any request or notification whatsoever.
Default Penalty. If an institution's cohort default rate meets the following levels, a default penalty is imposed on the institution as follows:
Default Penalty. 12.1. Seller acknowledges that Seller shall pay default penalty for breaching the Agreement for any reason attributable to Seller. Seller shall pay default penalty for any delay, non-contractual performance, non- performance, violation of HSE rules, failure to provide information and breach of confidentiality obligations.
Default Penalty. LIEN: 2ND PARTY who remains beyond the date agreed upon in the USE AGREEMENT without the express WRITTEN permission of the 1ST PARTY or is in violation of any term of this agreement shall forfeit both all rights hereunder and all sums paid and shall be assessed a penalty of $2 per foot per day, and, at the option of the 1ST PARTY, the Boat may be removed and stored or otherwise disposed of by the 1ST PARTY for the payment of all sums due the 1st PARTY, including any other costs, Attorney’s fees, etc. incurred by the 1ST PARTY in enforcing this agreement or collecting any sums due hereunder, which costs, fees and expenses shall be a lien upon the Boat. All such charges, costs, debts, etc. shall bear the interest rate of one and one half percent (1.5%) per month from the date payment is due or incurred.
