Fails to Deliver Sample Clauses
The "Fails to Deliver" clause defines the consequences and procedures that apply when one party does not fulfill its obligation to deliver goods, services, or payments as agreed in a contract. Typically, this clause outlines the steps the non-defaulting party can take, such as demanding performance, seeking compensation, or terminating the agreement. For example, if a supplier fails to deliver products by the specified date, the buyer may be entitled to claim damages or source the goods elsewhere. The core function of this clause is to allocate risk and provide a clear remedy in the event of non-performance, thereby protecting the interests of the parties and ensuring accountability.
Fails to Deliver. In the event (a) a “locate” was not obtained by your broker in connection with a sale for a short account notwithstanding your representation to the contrary, ▇▇ ▇▇▇▇▇▇ may buy the securities for your account and risk, and charge your account for all costs and expenses incurred by it and (b) you fail to make delivery of securities on a timely basis to enable ▇▇ ▇▇▇▇▇▇ to settle a sale for a long account, you shall pay to ▇▇ ▇▇▇▇▇▇ any losses, liability or expenses incurred by it.
Fails to Deliver. In the case of the failure of the Client’s counterparty (or other appropriate party) to deliver the expected consideration as agreed, State Street will make available to the Client on ▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ information regarding such failure to deliver.