Enforcement of the Compensatory Penalty Sample Clauses

Enforcement of the Compensatory Penalty. If verified failure to comply with the Minimum Exploration Program, ANP shall summon the Concessionaire to pay the adjusted amount from the units of work which were not performed, as compensatory penalty, within thirty (30) days, without any discount for voluntary payment. In the absence of the voluntary payment, ANP shall register the debit in the overdue tax system and execute the amount due, plus applicable statutory charges, deducted from the debit the amount already executed from the corresponding financial guarantees. The amount of the imposition set forth in the penalty clause shall be adjusted by the IGP-DI until the date on which the effective payment is made. ANP’s representation of contract default has immediate effect and characterizes a cause sufficient to execute the bid bond offered, including performance bond. Suspension of the performance of the financial guarantee upon ANP’s decision, pursuant to item “m” of paragraph 34.5, or of the arbitration award or court decision in effect does not prevent communication of the loss by ANP to the insurance company, within the effective period of the corresponding guarantee. After the suspension is terminated with no reversal of the administrative decision referred to in paragraph 6.14.3, the effective performance of the financial guarantee shall come upon termination of the suspension, even if the original effective period of the guarantee is expired. Receipt of the amount corresponding to the compensatory penalty for failure to implement the Minimum Exploration Program: does not exempt the Concessionaire from performing the other obligations arising from the Agreement; does not affect ANP’s right to seek other remedies and impose any applicable sanctions for acts other than the mere failure to implement the Minimum Exploration Program; and does not allow the Concessionaire to advance to the Production Phase. For escrow deposit, the guarantee shall be performed upon withdrawal of the adjusted amount, through correspondence from ANP to the depositary, regardless of prior authorization of the depositor.
Sample 1See All (5)
AutoNDA by SimpleDocs
Enforcement of the Compensatory Penalty. If verified failure to comply with the Minimum Exploration Program, ANP shall summon the Contracted Parties to pay the adjusted amount corresponding to the parcel not implemented, as compensatory penalty, within thirty (30) days, with no discount for voluntary payment. In the absence of voluntary payment, ANP shall execute the respective financial guarantees. ANP’s representation of default in an administrative proceeding subject to adversary proceeding and legal defense has immediate effect and characterizes a cause sufficient to execute the bid bond offered, including performance bond. Any suspension of the execution depends on a decision made by ANP itself, pursuant to item “m” of paragraph 35.5, or on an arbitration or court decision in effect. In any case, such suspension does not preclude ANP from communicating the loss to the insurance company before expiration, as well as its effective execution when the suspension ends and the administrative decision was not reversed, even after the original term. Receipt of the amount corresponding to the compensatory penalty for failure to implement the Minimum Exploration Program: does not exempt the Consortium Members from performing the other obligations arising from the Agreement; does not affect ANP’s right to seek other remedies and impose any applicable sanctions for acts other than the mere failure to implement the Minimum Exploration Program; and does not entitle the Consortium Members to start the Production Phase.
Sample 1Sample 2Sample 3See All (4)
Enforcement of the Compensatory Penalty. 6.14. If verified failure to comply with the Minimum Exploration Program, ANP shall summon the Concessionaire to pay the adjusted amount from the units of work which were not performed, as compensatory penalty, within thirty (30) days, without any discount for voluntary payment.
Sample 1Sample 2Sample 3See All (4)
Enforcement of the Compensatory Penalty. 14.14. If verified failure to comply with the Initial Work Program, ANP shall summon the Concessionaire to pay the amount corresponding to the non-executed portion, as compensatory penalty, within thirty (30) days, without any discount for voluntary payment.
Sample 1Sample 2Sample 3
Enforcement of the Compensatory Penalty. If verified failure to comply with the Minimum Exploration Program, ANP shall summon the Concessionaire to pay the adjusted amount from the units of work which were not performed, as compensatory penalty, within thirty (30) days, without any discount for voluntary payment. In the absence of the voluntary payment, ANP shall register the debit in the overdue tax system and execute the amount due, plus applicable statutory charges, deducted from the debit the amount already executed from the corresponding financial guarantees. The amount of the imposition set forth in the penalty clause shall be adjusted by the IGP-DI until the date on which the effective payment is made. Receipt of the amount corresponding to the compensatory penalty for failure to implement the Minimum Exploration Program: does not exempt the Concessionaire from performing the other obligations arising from the Agreement; does not affect ANP’s right to seek other remedies and impose any applicable sanctions for acts other than the mere failure to implement the Minimum Exploration Program; and does not allow the Concessionaire to advance to the Production Phase. For escrow deposit, the guarantee shall be performed upon withdrawal of the adjusted amount, through correspondence from ANP to the depositary, regardless of prior authorization of the depositor.
Sample 1Sample 2
Enforcement of the Compensatory Penalty. If the Minimum Exploration Program is not complied with, the ANP will summon the Contracted Parties to pay, as a compensatory penalty clause, within 30 (thirty) days, the amount updated by the IGP-DI corresponding to the unfulfilled portion of the Minimum Exploration Program, without any discount for voluntary payment. In case of voluntary non-payment, the ANP will execute the amount due up to the limit guaranteed by the financial guarantees, and will register the remaining debt as an active debt, plus the applicable legal charges. The amount equivalent to the Minimum Exploratory Program not fulfilled will be updated by the IGP-DI until the date on which the effective payment is made. ANP’s manifestation on contract default has immediate effect and characterizes cause sufficient to execute the guarantee offered, including any performance bond Suspension of the execution of the financial guarantee by ANP, pursuant to item “m” of paragraph 36.5, or any arbitration award or court decision in effect, does not prevent communication of the loss by ANP to the insurance company within the effective period of the corresponding guarantee. After suspension is terminated with no reversal of the administrative decision referred to in paragraph 11.14.3, the financial guarantee shall be effectively executed upon termination of the suspension, even if the original effective period of the guarantee is expired. Receipt of the amount corresponding to the compensatory penalty for failure to implement the Minimum Exploration Program:
Sample 1

Related to Enforcement of the Compensatory Penalty

  • Law Enforcement Emergencies If a Party receives a request from a law enforcement agency to implement at its switch a temporary number change, temporary disconnect, or one-way denial of outbound calls for an end user of the other Party, the receiving Party will comply so long as it is a valid emergency request. Neither Party will be held liable for any claims or damages arising from compliance with such requests, and the Party serving the end user agrees to indemnify and hold the other Party harmless against any and all such claims.

  • Recoupment of Wage and Benefit Overpayments (a) In the event that an employee receives wages or benefits from the Agency to which the employee is not entitled, regardless of whether the employee knew or should have known of the overpayment, the Agency shall notify the employee in writing of the overpayment which will include information supporting that an overpayment exists and the amount of wages and/or benefits to be repaid.

  • EMPLOYMENT DISCRIMINATION BY CONTRACTOR PROHIBITED During the performance of this Contract, the Contractor agrees as follows:

  • Enforcement Expenses The Maker agrees to pay all costs and expenses of enforcement of this Note, including, without limitation, reasonable attorneys’ fees and expenses.

  • No Layoff to Compensate for Overtime Employees shall not be required to layoff during regular hours to equalize any overtime worked.

  • Independent Contractor Payment of Employment Taxes and Other Expenses Independent Contractor. For the purposes of this Section 4.4, "Contractor" shall be deemed to include not only Contractor, but also any agent or employee of Contractor. Contractor acknowledges and agrees that at all times, Contractor or any agent or employee of Contractor shall be deemed at all times to be an independent contractor and is wholly responsible for the manner in which it performs the services and work requested by City under this Agreement. Contractor, its agents, and employees will not represent or hold themselves out to be employees of the City at any time. Contractor or any agent or employee of Contractor shall not have employee status with City, nor be entitled to participate in any plans, arrangements, or distributions by City pertaining to or in connection with any retirement, health or other benefits that City may offer its employees. Contractor or any agent or employee of Contractor is liable for the acts and omissions of itself, its employees and its agents. Contractor shall be responsible for all obligations and payments, whether imposed by federal, state or local law, including, but not limited to, FICA, income tax withholdings, unemployment compensation, insurance, and other similar responsibilities related to Contractor’s performing services and work, or any agent or employee of Contractor providing same. Nothing in this Agreement shall be construed as creating an employment or agency relationship between City and Contractor or any agent or employee of Contractor. Any terms in this Agreement referring to direction from City shall be construed as providing for direction as to policy and the result of Contractor’s work only, and not as to the means by which such a result is obtained. City does not retain the right to control the means or the method by which Contractor performs work under this Agreement. Contractor agrees to maintain and make available to City, upon request and during regular business hours, accurate books and accounting records demonstrating Contractor’s compliance with this section. Should City determine that Contractor, or any agent or employee of Contractor, is not performing in accordance with the requirements of this Agreement, City shall provide Contractor with written notice of such failure. Within five (5) business days of Contractor’s receipt of such notice, and in accordance with Contractor policy and procedure, Contractor shall remedy the deficiency. Notwithstanding, if City believes that an action of Contractor, or any agent or employee of Contractor, warrants immediate remedial action by Contractor, City shall contact Contractor and provide Contractor in writing with the reason for requesting such immediate action.

  • Reciprocal Compensation Traffic Telecommunications traffic originated by a Customer of one Party on that Party’s network and terminated to a Customer of the other Party on that other Party’s network, except for Telecommunications traffic that is interstate or intrastate Exchange Access, Information Access, or exchange services for Exchange Access or Information Access. The determination of whether Telecommunications traffic is Exchange Access or Information Access shall be based upon Verizon’s local calling areas as defined by Verizon. Reciprocal Compensation Traffic does not include the following traffic (it being understood that certain traffic types will fall into more than one (1) of the categories below that do not constitute Reciprocal Compensation Traffic): (1) any Internet Traffic;

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

  • Compensatory Time for Overtime Eligible Employees A. Compensatory Time Eligibility Compensatory time off may be earned in lieu of cash only when an institution and the employee agree. Compensatory time must be granted at the rate of one and one half (1-1/2) hours of compensatory time for each hour of overtime worked.

  • No Lay-Off to Compensate for Overtime An employee shall not be required to lay-off during regular hours to equalize any overtime worked.

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