Default Terms Sample Clauses

Default Terms. If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be a Base Rate Borrowing. If no Interest Period is specified with respect to any requested LIBO Rate Borrowing, then, subject to Section 2.3(4) below, the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with Section 2.3, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing.

Default Terms. 3.1 Subject to the remaining terms herein, all rights in and to the Technology shall revert back to the Corporation and the Purchaser shall promptly take all reasonable actions and comply with all reasonable requests of the Corporation to ensure such reversion, in the event that the Purchaser or any one of its affiliates has not commenced Commercial Operations in any one (1) Jurisdiction within two (2) years of the Closing Date. 3.2 The default terms specified at Article 3.1 herein shall be extend in the event that the Purchaser or any of its affiliates is not able to carry out its business activities due to any labour strikes, political upheaval, an act of god or any other similar event of frustration that materially interrupts the Purchaser’s attempts to commence Commercial Operations in any of the Jurisdictions where the Purchaser or any of its affiliates is actively pursing Commercial Operations.

Default Terms. Unless otherwise stated in the Supply Agreement, all Prices are [***] (Incoterms 2010). The transfer of risks and transfer of title shall take place at the place of delivery in accordance with the [***] (Incoterms 2010). 6 Forecast Purchase Orders and Volumes

Default Terms. In the event that it fails to register the Project Company within the period stipulated in the Investment Agreement due to reasons arising from Party B, Party B shall, in accordance with Party A’s instructions, perfect the organization, staffing, fund raising and others of the Project Company until the approval by Party A. Party B shall pay Party A a liquidated damages of RMB50,000 for each day of the registration extension of the Project Company. If the extension period exceeds 90 days and the Project Company remains unregistered, Party A has the right to terminate the Investment Agreement and confiscate its performance guarantee. If Party C fails to make contribution to the project capital as agreed under the Investment Agreement, Party C and Party A shall be deemed to be in breach of the agreement, and Party A or Party C should pay the liquidated damages of the amount representing 0.02% of the unpaid capital to Party B per day for each day of overdue exceeding 30 days. If Party B fails to make contribution to the project capital as agreed under the Investment Agreement, Party B should pay the liquidated damages of the amount representing 0.02% of the unpaid capital to Party C per day for each day of overdue exceeding 30 days. If the Project Company fails to submit a performance guarantee for the construction period during the period prescribed, or fails to enter into a franchise agreement due to reasons arising from the Project Company, Party B should pay Party A the liquidated damages of RMB50,000 for each day of extension. If the extension period exceeds 30 days, Party A has the right to terminate the Investment Agreement with Party B and confiscate its performance guarantee. As the applicable percentage ratios in respect of the capital contribution amount of CGGC under the Investment Agreement exceeds 5% but are less than 25%, the relevant transaction constitutes a discloseable transaction of the Company pursuant to the requirement under Chapter 14 of the Listing Rules, and is subject to the reporting and announcement requirements, but exempt from the shareholders’ approval requirement under Chapter 14 of the Listing Rules.

Default Terms. Failure of the Contractor to comply with the requirements of the Contracting Officer shall be grounds for a determination, by the Contracting Officer, that the Contractor is not prosecuting the work with sufficient diligence to ensure completion within the time specified in the contract. Upon making this determination, the Contracting Officer may terminate the Contractor's right to proceed with the work, or any separable part of it, in accordance with the default terms of the contract.

Default Terms. If the closing does not occur on or before the Closing Date, or if payment of the Commission to Advance Company does not occur, the Agent agrees to: (a) Pay Advance Company 20% of the Agent’s Commission from the next closed transaction if it occurs within 60 days of the original Closing Date. (b) The additional 5% fee (totaling the 20%) shall be paid out-of-pocket by the Agent at closing. (c) If the Agent does not have a closing within 60 days, the Agent must begin equal monthly repayments over 3 months totaling 120% of the original advanced amount.

Default Terms. 4.01 If the Purchaser does not commence Commercial Operations in any one (1) Jurisdiction within two (2) years of the Closing Date, then the Vendor shall have the option to repurchase the Technology from for one (1) dollar which option can be exercised by notice in writing, upon the delivery of which title to the Technology will automatically transfer back to the Vendor. 4.02 The two (2) year time period specified in Article 4.01 herein shall be extended in the event that the Purchaser or any of its affiliates is not able to carry out its business activities due to any labour strikes, political upheaval or an act of god that materially interrupts the Purchaser’s attempts to commence Commercial Operations in any of the Jurisdictions where the Purchaser or any of its affiliates is actively pursuing Commercial Operations. 4.03 The Purchaser must provide the Vendor with written notice of its intention to rely on section 4.02 to extend the two (2) year term set out in section 4.01 along with supporting material prepared by an unaffiliated third party confirming the occurrence of a labour strike, political upheaval or act of god that would materially interrupt the Purchaser’s attempts to commence Commercial Production in any one (1) Jurisdiction. 4.04 The Purchaser’s failure to provide the notice set out in section 4.03 precludes its ability to rely on the terms specified at Section 4.02 to extend the two (2) year term set out in section 4.01.

Default Terms. In event of non-payment in full of said fee by Student within twenty-one (21) days of date Invoice is sent, Student will be deemed in default and: (i) All of Student’s property and interest in property pledged as collateral by Student, as set forth in above ¶ “(2),” immediately becomes, i.e. is, property of Secured Party; (ii) Secured Party continues as Student’s Authorized Representative as set forth in ¶ “(8)”; (iii) Student consents and agrees that Secured Party may take possession of, as well as otherwise dispose of in any manner that Secured Party, in Secured Party’s sole discretion, deems appropriate, including, but not limited by, sale at auction, at any time following Student’s default, and without further notice, any and all of Student’s former property and interest in property formerly pledged as collateral by Student, as described above in ¶ “(2),” now property of Secured Party, in respect of this “Self- executing Security Agreement,” that Secured Party, again in Secured Party’s sole discretion deems appropriate.