Delayed Fulfillment. Should the Buyer be in delay with employment obligations and in this regard be allowed to execute an Annex to this Agreement, the Seller shall claim the fulfillment of obligation(s) and the Agreement Penalty payable by the Buyer. The Buyer is obliged for any delay of employment obligation according to the Employment Plan to pay the Seller the Agreement Penalty in the amount calculated by the following formula: *Number of employees: Number of employees for whom the employment obligation was not fulfilled according to the Employment Plan. *Number of months: The total number of months as from the first next day when the Employment Plan was supposed to be fulfilled for a specified period until the day determined by the Annex to the Agreement executed for fulfillment of this obligation. The Seller may recuperate the Agreement Penalty set out pursuant to these provisions from the Guarantee for performance of buyer’s obligations. Payment of penalties shall not relieve the Buyer from its obligation to perform employment obligations.
Appears in 3 contracts
Sources: Share Purchase Agreement, Share Purchase Agreement, Share Purchase Agreement