DEFAULTS AND TERMINATION RIGHTS Sample Clauses

DEFAULTS AND TERMINATION RIGHTS. 7.01 DEFAULT BY MANAGER Manager shall be deemed to be in default hereunder in the event Manager shall fail to keep, observe or perform any material covenant, agreement, term or provision of this Agreement to be kept, observed or performed by Manager, and such default shall (i) result from Manager's grossly negligent acts or omissions or willful misconduct; (ii) involve Manager's misappropriation or intentional misapplication of funds received or held by Manager hereunder; or (iii) continue for a period of ten (10) days after written notice thereof by Owner to Manager as to any default in payment of money or thirty (30) days after notice thereof by Owner to Manager as to any non-monetary default, or, if such non-monetary default cannot be cured within thirty (30) days, then such additional period as shall be reasonable provided that Manager is capable of curing same and has continuously attempted to cure such default.
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs
DEFAULTS AND TERMINATION RIGHTS. 7.01 DEFAULT BY MANAGER Manager shall be deemed to be in default hereunder in the event Manager shall fail to keep, observe or perform any material covenant, agreement, term or provision of this Agreement to be kept, observed or performed by Manager, and such default shall continue for a period of, in the case of any default which can be cured by the payment of a liquidated sum of money, ten (10) days and, in the case of all other defaults, thirty (30) days after notice thereof by Owner to Manager.
Sample 1Sample 2
DEFAULTS AND TERMINATION RIGHTS. 7.1 DEFAULT BY MANAGER Manager shall be deemed to be in default hereunder in the event Manager shall fail to keep, observe or perform any material covenant, agreement, term or provision of this Agreement to be kept, observed or performed by Manager, and such default shall (i) result from Manager's grossly negligent acts or omissions or willful misconduct; (ii) involve Manager's misappropriation or intentional misapplication of funds received or held by Manager hereunder; or (iii) continue for a period often (10) days after written notice thereof by Bluerock to Manager as to any default in payment of money or thirty (30) days after written notice thereof by Bluerock to Manager as to any non-monetary default, or, if such non-monetary default cannot be cured within thirty (30) days, then such additional period as shall be reasonable provided that Manager is capable of curing same and has continuously attempted to cure such default. Manager shall also be deemed to be in default hereunder if a petition for bankruptcy, reorganization or rearrangement is filed under state or federal insolvency statutes by Manage, or if any such petition is filed against Manager and not removed or discharged within sixty (60) days thereafter.
Sample 1
DEFAULTS AND TERMINATION RIGHTS. In the event (i) any conditions precedent, as set forth in Article 2 above, to the obligations of a party have not been satisfied (or waived in writing by the other party) on or before the Closing Date (as the same may be extended pursuant to this Agreement or by agreement of the parties), and any such conditions precedent remains unsatisfied for more than fifteen (15) days following receipt of notice thereof from the other party or (ii) of a failure by a party to perform any of its obligations hereunder in any material respect, which failure continues for more than fifteen (15) days following receipt of notice thereof from the other party, then the other party shall have the right to terminate its obligation to complete the transaction contemplated under this Agreement by delivery of notice thereof to the other party. In the event of a failure of a condition to a party's obligations under this Agreement, such party shall, as its sole and exclusive remedy (except as set forth in this Article below), subject to Transferee's right to return of the Deposit (as defined below), either elect to terminate its obligation to complete the transaction contemplated under this Agreement or to waive satisfaction of such condition, each by delivery of notice thereof to the other party. Subject to the terms of this Article below, upon any such termination or any termination otherwise permitted under this Agreement, all rights and obligations of the parties under this Agreement, other than those that by their terms survive termination, shall terminate without recourse, and this Agreement shall be of no further force or effect. Notwithstanding anything to the contrary contained in this Agreement, unless caused by fraud or willful breach by a Property Owner and/or any Existing Partner, the Xxxxxx Parties shall not be deemed to be in breach of its obligations under this Agreement with respect to any Prohibited Fee Properties if and for so long as the applicable Xxxxxx Parties (i) diligently and continuously comply with their respective obligations with respect to such Properties as set forth in Sections 1.1 and 1.3, including, without limitation, the obligation to use good faith efforts to cure any such breach or noncompliance (and to diligently and continuously pursue any applicable litigation, arbitration or other actions in connection with any Prohibited Fee Property) and upon such cure to cause the applicable Property (or the applicable Partnership Interests) to be convey...
Sample 1
DEFAULTS AND TERMINATION RIGHTS 
Sample 1Sample 2Sample 3See All (6)

Related to DEFAULTS AND TERMINATION RIGHTS

  • Suspension and Termination Schedule 6 shall have effect.

  • Default and Termination A. In the event of substantial failure by PROVIDER to perform in accordance with the terms hereof, A&M System may terminate this Agreement upon fifteen (15) days written notice of termination setting forth the nature of the failure (the termination shall not be effective if the failure is fully cured prior to the end of the fifteen-day period), provided that said failure is through no fault of A&M System.

  • Additional Termination Rights In addition to any right to terminate this Agreement under the provisions of this Section 16, either party shall have the further right to terminate this Agreement, upon delivery of written notice to the Agent, upon the occurrence of any of the following:

  • Termination Rights This Agreement may be terminated at any time prior to the Closing:

  • Other Termination Rights This Agreement may be terminated at any time prior to the Closing by the applicable party if and to the extent permitted in Part V of Appendix B.

  • Actions Upon Termination In the event of termination not the fault of the Contractor, the Contractor shall be paid for the services properly performed prior to termination, together with any reimbursable expenses then due, but in no event shall such compensation exceed the maximum compensation to be paid under the Contract. The Contractor agrees that this payment shall fully and adequately compensate the Contractor and all subcontractors for all profits, costs, expenses, losses, liabilities, damages, taxes, and charges of any kind whatsoever (whether foreseen or unforeseen) attributable to the termination of this Contract. Upon termination for any reason, the Contractor shall provide Seattle with the most current design documents, contract documents, writings and other product it has completed to the date of termination, along with copies of all project-related correspondence and similar items. Seattle shall have the same rights to use these materials as if termination had not occurred.

  • Obligations Upon Termination Upon termination of this Agreement, either party shall, at the request of the other party, return any document, material, database, equipment, or software containing the Confidential Information to the other party. If, for any reason, such document, material, database, equipment, or software cannot be returned, either party shall destroy all the Confidential Information belonging to the other party and delete such Confidential Information from any memory devices. No party shall be permitted to continue using the Confidential Information in any way after the termination of this Agreement.

Time is Money Join Law Insider Premium to draft better contracts faster.