Common use of Delayed Fulfillment Clause in Contracts

Delayed Fulfillment. In case the Seller decides not to act according with provisions 6.4.of this Part of the agreement, thus giving the right of choice (to take actions in accordance with either section 6.4. or 6.5.) it may take actions in accordance with the provisions of this section. Failure to invest in full or in part gives the right to the Seller to claim penalties to the amount of 10% (ten percent) of the amount that the Buyer has failed to invest in time on account of delayed fulfillment of obligations. Payment of penalties shall not release the Buyer from its obligation to complete the investment.

Appears in 2 contracts

Samples: Share Purchase Agreement, Share Purchase Agreement

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Delayed Fulfillment. In case the Buyer has fulfilled the investment obligation but with delay, the Seller decides not to act according with provisions 6.4.of this Part of has the agreementright, thus giving the right of choice (to take actions in accordance with either section 6.4. or 6.5.) it may take actions in accordance with the provisions of this sectionSection, to claim penalties to the amount of 10% (ten percent) of the amount that the Buyer has failed to invest in a timely fashion. Failure to invest in full or in part gives the right to the Seller to claim penalties to the amount of 10% (ten percent) of the amount that the Buyer has failed to invest in time on account of delayed fulfillment of obligations. Payment of penalties shall not release the Buyer from its obligation to complete the investment. In case the Seller decides not to take action in accordance with section 6.4 of this Part of the Agreement thus giving it the right of choice (to take action in accordance with either section 6.4 or 6.5) it may take action in accordance with the provisions of this section.

Appears in 2 contracts

Samples: Share Purchase Agreement, Share Purchase Agreement

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