DEFAULTS AND REMEDIES 16 Sample Clauses

DEFAULTS AND REMEDIES 16. 1 Subject to Sections 9.2, 16.3, and the Cover Standard the exclusive and sole remedy of the Parties in the event of a breach of the Firm Performance Obligation shall be recovery of the following Cover Costs: (a) in the event of a breach by Seller, payment by Seller to Buyer in an amount equal to (i) the difference, if positive, between the purchase price paid by Buyer for replacement Gas and the Contract Price, multiplied by the quantity of Gas agreed upon but not delivered by Seller to Buyer, plus (ii) Buyer's incremental transportation costs, plus (iii) any applicable Imbalance Charges ("Buyer's Cover Costs"); (b) in the event of a breach by Buyer, payment by Buyer to Seller in an amount equal to (i) the difference, if positive, between the Contract Price and the price received by Seller from the resale of such Gas, multiplied by the quantity of Gas not taken by Buyer, plus (ii) reasonable incremental transportation costs required for the resale of such gas, plus (iii) any applicable Imbalance Charges ("Seller's Cover Costs"); (c) in the event that Buyer has used commercially reasonable efforts to replace the Gas or Seller has used commercially reasonable efforts to sell the Gas to a third Party, and no such replacement or sale is available, then the exclusive remedy of the non-breaching Party shall be the difference between the Contract Price and the highest price in the range of the daily postings for the higher of (i) the Gas Day of non-delivery of Gas or (ii) the Gas Day after the Gas Day of non-delivery of Gas, such postings as published by Gas Daily under the heading Daily Price Survey under Citygates for Transco zone 6 non-N.Y. multiplied by the quantity of Gas agreed upon but not delivered by Seller or taken by Buyer, as the case may be; plus any applicable Imbalance Charges. 16.2 In the event either Party shall (i) make an assignment or any general arrangement for the benefit of creditors; (ii) default in the payment of any undisputed amount due to the other Party hereunder, which is not cured within 30 days after receipt of notice thereof; (iii) file a petition or otherwise commence, authorize, or acquiesce in the commencement of a proceeding or cause under any bankruptcy or similar law for the protection of creditors or have such petition filed or proceeding commenced against it, (iv) otherwise become bankrupt or insolvent (however evidenced); (v) be unable to pay its debts as they fall due; or (vi) in the case of Seller, fail to give adequat...
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DEFAULTS AND REMEDIES 16. Section 6.01 Events of Default. 16 Section 6.02 Acceleration. 17 TABLE OF CONTENTS (continued) Page Section 6.03 Other Remedies. 17 Section 6.04 Waiver of Past Defaults. 17 Section 6.05 Control by Majority. 18
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DEFAULTS AND REMEDIES 16. Section 16.1. Bankruptcy Defaults by Tenant 16 Section 16.2. Other Defaults by Tenant 16 Section 16.3. Remedies of Landlord 17 Section 16.4. Landlord’s Damages 18 ARTICLE XVII. MISCELLANEOUS 18 Section 17.1. Severability 18 Section 17.2. Notices 18 Section 17.3. Quiet Enjoyment 18 Section 17.4. Limitation of Landlord’s Liability 19 Section 17.5. Estoppel Certificate by Tenant 19 Section 17.6. Cumulative Remedies 19 Section 17.7. No Waiver 19 Section 17.8. Modifications of Lease 20 Section 17.9. Application of Tenant Deposits 20 Section 17.10. Successors and Assigns 20 Section 17.11. Recordation 20 Section 17.12. Priority 20 Section 17.13. Covenants as Conditions 20 Section 17.14. Captions 20 Section 17.15. Number and Gender 20 Section 17.16. Applicable Law 20 Section 17.17. Exhibits 20 Section 17.18. Intercompany Lease 20 INTERCOMPANY MASTER LEASE AGREEMENT BASIC LEASE INFORMATION Date of Lease: April 1, 2022 Commencement Date: April 1, 2022 Location and Square Feet: 500 Xxxxxxx Xxxx., Xxxxxxxxx, Xxxx 00000 (119,800 square feet) 500 Xxxxxxx Xxxx., Xxxxxxxxx, Xxxx 00000 (38,000 square feet) Landlord: QGC Landholdings, LLC, an Ohio limited liability company Tenant: Quality Gold, Inc., an Ohio corporation Landlord’s Notice Address: 500 Xxxxxxx Xxxx., Xxxxxxxxx, Xxxx 00000 Tenant’s Notice Address: 500 Xxxxxxx Xxxx., Xxxxxxxxx, Xxxx 00000 Initial Term: Five (5) Years Initial Termination Date: March 31, 2027 Extension Options: One (1) Three (3)-Year Extensions Rent: Initial Term Years Months Monthly Rent Amount Annual Rent Amount 1 April 1, 2022 – March 31, 2023 $ 89,900.00 $ 1,078,800.00 2 April 1, 2023 – March 31, 2024 $ 92,300.00 $ 1,107,600.00 3 April 1, 2024 – March 31, 2025 $ 94,800.00 $ 1,137,600.00 4 April 1, 2025 – March 31, 2026 $ 97,400.00 $ 1,168,800.00 5 April 1, 2026 – March 31, 2027 $ 100,000.00 $ 1,200,000.00 Extension Options Years Months Monthly Rent Amount Annual Rent Amount 6 April 1, 2027 – March 31, 2028 $ 102,700 $ 1,232,400 7 April 1, 2028 – March 31, 2029 $ 105,500 $ 1,266,000 8 April 1, 2029 – March 31, 2030 $ 108,300 $ 1,299,600
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Related to DEFAULTS AND REMEDIES 16

  • Defaults and Remedies Section 6.01.

  • RIGHTS AND REMEDIES ON DEFAULT If an Event of Default occurs under this Agreement, at any time thereafter, Lender may exercise any one or more of the following rights and remedies: Accelerate Indebtedness. Declare all Indebtedness, including any prepayment penalty which Grantor would be required to pay, immediately due and payable, without notice of any kind to Grantor.

  • Events of Default Rights and Remedies on Default 10.1 Events of Default 10.2 Acceleration of the Obligations

  • Limitations on Remedies 7.1 IN NO EVENT WHATSOEVER SHALL SELLER OR ANY OF THE TEKNI-PLEX COMPANIES OR ANY OF ITS OR THEIR EMPLOYEES, AGENTS OR SUPPLIERS HAVE ANY LIABILITY, WHETHER BASED ON BREACH OF CONTRACT, WARRANTY, BREACH OF STATUTORY DUTY, NEGLIGENCE, TORT, STRICT LIABILITY OR OTHERWISE, IN AN AMOUNT IN EXCESS OF THE AMOUNT ACTUALLY RECEIVED BY SELLER FROM BUYER AS PURCHASE PRICE FOR THE PRODUCTS OR SERVICES WHICH ARE THE SUBJECT OF A CLAIM OR SERIES OF RELATED CLAIMS. IN NO EVENT WHATSOEVER SHALL SELLER OR ANY OF ITS EMPLOYEES, AGENTS OR SUPPLIERS HAVE ANY LIABILITY FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, STATUTORY, PUNITIVE OR EXEMPLARY DAMAGES, EVEN IF SELLER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, INCLUDING BUT NOT LIMITED TO ANY DAMAGES ARISING FROM OR RELATING TO ANY INJURY TO PERSONS; LOSS OF VALUE OR USE (INCLUDING WITHOUT LIMITATION, DIMINUTION IN VALUE OR STIGMA DAMAGES); LOSS OF ANTICIPATED REVENUE OR PROFIT; COST OF CAPITAL; DAMAGE TO OR LOSS OF OTHER PROPERTY OR EQUIPMENT; CLAIMS MADE BY END-USERS; OR COST OF SUBSTITUTE SUPPLIES, FACILITIES OR SERVICES.

  • Waivers and Remedies The waiver by any of the parties hereto of any other party's prompt and complete performance, or breach or violation, of any provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach or violation, and the waiver by any of the parties hereto to exercise any right or remedy which it may possess hereunder shall not operate nor be construed as a bar to the exercise of such right or remedy by such party upon the occurrence of any subsequent breach or violation.

  • Defaults Remedies (a) It shall be an Event of Default:

  • Rights and Remedies Upon Default Upon occurrence of any Event of Default and at any time thereafter, the Secured Party shall have the right to exercise all of the remedies conferred hereunder and under the Notes, and the Secured Party shall have all the rights and remedies of a secured party under the UCC and/or any other applicable law (including the Uniform Commercial Code of any jurisdiction in which any Collateral is then located). Without limitation, the Secured Party shall have the following rights and powers:

  • Rights and Remedies Generally Upon the occurrence and during the continuance of any Event of Default, the Lender shall have, in addition to any other rights and remedies contained in this Agreement and in any of the other Financing Agreements, all of the rights and remedies of a secured party under the Code or other applicable laws, all of which rights and remedies shall be cumulative, and non-exclusive, to the extent permitted by law, including, without limitation, the right of Lender to sell, assign, or lease any or all of the Collateral or the Real Property. Upon notice to the Borrowers after an Event of Default and during the continuance thereof, Borrowers at their own expense shall assemble all or any part of the Collateral as determined by Lender and make it available to Lender at any location designated by Lender. In such event, the Borrowers shall, at their sole cost and expense, store and keep any Collateral so assembled at such location pending further action by Lender and provide such security guards and maintenance services as shall be necessary to protect and preserve such Collateral. In addition to all such rights and remedies, the sale, lease or other disposition of the Collateral, or any part thereof, by the Lender after an Event of Default and during the continuance thereof may be for cash, credit or any combination thereof, and the Lender may purchase all or any part of the Collateral at public or, if permitted by law, private sale, and in lieu of actual payment of such purchase price, may set-off the amount of such purchase price against the Liabilities of the Borrowers then owing. Any sales of such Collateral may be adjourned from time to time with or without notice. The Lender may, in its sole discretion, cause the Collateral to remain on any Borrower’s premises, at the Borrowers’ expense, pending sale or other disposition of such Collateral. The Lender shall have the right after an Event of Default and during the continuance thereof to conduct such sales on any Borrower’s premises, at the Borrowers’ expense, or elsewhere, on such occasion or occasions as the Lender may see fit.

  • Rights and Remedies Upon Breach If Executive breaches or threatens to commit a breach of any of the provisions of this Section 5 (the “Restrictive Covenants”), the Company shall have the following rights and remedies, each of which rights and remedies shall be independent of the other and severally enforceable, and all of which rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company under law or in equity:

  • Remedies for Default In the event either party is in default under this Contract, the non- defaulting party may, at its option, pursue any or all of the remedies available to it under this Contract, including termination for cause, and at law or in equity.

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