Failure to pay or take the shipments Sample Clauses

Failure to pay or take the shipments. In the event that (i) the Buyer fails to pay any sum on the tenth (10) calendar day payment terms set forth in Section 5.1. hereof, or (ii) the Buyer fails to take delivery of two shipments of the Product, the Seller may after sending to the Buyer the notice describing the occurrences set out in this Section and without prejudice to any of the Seller’s other rights under this Agreement, at its own discretion and at any time: terminate this Agreement after sending of a termination written notice to the Buyer with termination effect from the date of sending such notice; deduct the amount outstanding from the Buyer from the unused portion of the prepayment with a consequent reduction in the amount of the prepayment available for payment in respect of later shipments of the Product; and/or suspend this Agreement in accordance to the following terms: The Seller shall notify the Buyer in writing of the suspension of the Agreement, indicating the commencement date for such suspension. Throughout the suspension period the Agreement shall continue to be in full force and effect, but any Seller’s obligations arising during the suspension period shall be cancelled. For the avoidance of doubt under no circumstances the Buyer’s obligations to pay any sum due under this Agreement may be deemed or considered cancelled under this Section. The suspension of the Agreement shall terminate at any time throughout the suspension period in which: (1) the Buyer makes the payment of the due amount; (2) the Buyer, if the Seller had used a portion of the prepayment to payment per Section 10.2.4(ii) above, transfers to the Seller to be held as the prepayment an amount equal to the portion of the prepayment used by the Seller per Section 10.2.4(ii) above. The suspension period shall terminate immediately on the later of (Y) the Business Day following payment in accordance with Section 10.2.4(iii)b.(1) or Section 10.2.4(iii)b.(2) above or, (Z) the Buyer notifying the Seller in writing of the payment or restoration of the prepayment per Sections 10.2.4(iii)b.(1) and 10.2.4(iii)b.(2) above. (3) If the period of suspension continues for more than three (3) months from the commencement date notified by the Seller, the Seller may in its own discretion and at any time after the suspension has exceeded three (3) months terminate this Agreement per Section 10.2.2.1. above. Upon termination of the suspension period per Section 10.2.4(iii)b.(1) or Section 10.2.4(iii)b.(2) above, the obligations ...
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Related to Failure to pay or take the shipments

  • STRIKES OR LOCKOUTS 5.01 During the term of this Agreement, or while negotiations for a further agreement are being held the Union will not permit or encourage any strike, slowdown, or any stoppage of work or otherwise restrict or interfere with the Employer's operation through its members.

  • NO STRIKES AND NO LOCKOUTS 5:01 The Employer undertakes that there will be no lockout as defined in the Labour Relations Act during the term of this Agreement. The Union undertakes that there will be no strike as defined in the Labour Relations Act during the term of this Agreement.

  • STRIKES AND LOCKOUTS The Union agrees during the term of this Agreement there will be no slowdown or strike, stoppage of work or refusal to work or to continue to work. The Employer agrees that during the term of this Agreement there will be no lockout.

  • NO STRIKES OR LOCKOUTS 5.01 The Union agrees there will be no strikes and the Employer agrees there will be no lockouts during the term of this Agreement. The term "strike" and "lockout" shall bear the meaning given them in the Ontario Labour Relations Act, as amended.

  • NO STRIKE OR LOCKOUTS 3.01 The Employer agrees that, during the term of this Agreement or any extension thereof, it will not cause or direct any lockouts of its employees and the Union agrees that during the lifetime of this Agreement or any extension thereof, there will be no strike, picketing, slowdown or stoppage of work, either complete or partial.

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  • CALAMITY DAYS A. All bargaining unit members shall be paid their appropriate rate of pay for all days or parts of a day when the school in which they are employed is closed due to an epidemic or other public calamity.

  • NO STRIKES - NO LOCKOUTS 13.01 In view of the orderly procedures established by this Agreement for the settling of disputes and the handling of grievances, the Union agrees that, during the life of this agreement, there will be no strike, picketing, slowdown or stoppage of work, either complete or partial, and the Corporation agrees that there will be no lockout.

  • NO STRIKES AND LOCKOUTS 5.01 The Union agrees there will be no strikes and the Employer agrees there will be no lockouts during the term of this Agreement. The term "strike" and "lockout" shall bear the meaning given them in the Ontario Labour Relations Act.

  • Act of God Days A. Scheduled days of student instruction which are not held because of conditions not within the control of school authorities, such as inclement weather, fires, epidemics, mechanical breakdowns, or health conditions (as defined by city, county, or state health authorities) will be rescheduled to ensure that there are a minimum number of days of student instruction as prescribed by Michigan law.

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