Financial Consequences of Termination Sample Clauses

Financial Consequences of Termination. 1. If this Agreement is terminated by the Eurosystem pursuant to Article 38(2)(a), (b) or (c), 38(3)(b) or by the Contracting CSD pursuant to Articles 38(1)(d), (3)(b) or 39(2), the Eu- rosystem shall be entitled to claim financial compensation from the Contracting CSD. The procedures for the exercise of compensation claims and for the determination of the amounts of compensation are detailed in Section 2 of Schedule 13 (Procedures for payment of Claims). In case of termination by the Contracting CSD pursuant to Article 38(1)(d), the financial compensation to be paid by the Contracting CSD in accordance with Section 2 of Schedule 13 is reduced by 50 percent.
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Financial Consequences of Termination. 42.2.1. In case of ahead of term termination of Agreement by the GRANTOR OF CONCESSION due to default on the part of CONCESSIONAIRE compensation under art. 37, liquidated damages under art. 38 shall be paid as well as indemnity for the actual size of damages suffered by the GRANTOR OF CONCESSION in case the compensation and the liquidated damages under the present Agreement may not cover the actual value of these damages. In case of termination of the present Concession Agreement due to a reason for which the CONCESSIONAIRE is liable and in case of non-fulfilment of obligations under the present Agreement the GRANTOR OF CONCESSION shall utilize the Performance bonds under art.14.1.
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Financial Consequences of Termination 
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Related to Financial Consequences of Termination

  • Consequences of Termination Upon the termination of this Agreement:

  • Financial Consequences The Department reserves the right to impose financial consequences when the Contractor fails to comply with the requirements of the Contract. The following financial consequences will apply for the Contractor’s non-performance under the Contract. The Customer and the Contractor may agree to add additional Financial Consequences on an as-needed basis beyond those stated herein to apply to that Customer’s resultant contract or purchase order. The State of Florida reserves the right to withhold payment or implement other appropriate remedies, such as Contract termination or nonrenewal, when the Contractor has failed to comply with the provisions of the Contract. The Contractor and the Department agree that financial consequences for non-performance are an estimate of damages which are difficult to ascertain and are not penalties. The financial consequences below will be paid and received by the Department of Management Services within 30 calendar days from the due date specified by the Department. These financial consequences below are individually assessed for failures over each target period beginning with the first full month or quarter of the Contract performance and every month or quarter, respectively, thereafter. Deliverable Performance Metric Performance Due Date Financial Consequence for Non-Performance Contractor will timely submit completed Quarterly Sales Reports All Quarterly Sales Reports will be submitted timely with the required information Reports are due on or before the 30th calendar day after the close of each State fiscal quarter $250 per Calendar Day late/not received by the Contract Manager Contractor will timely submit completed MFMP Transaction Fee Reports All MFMP Transaction Fee Reports will be submitted timely with the required information Reports are due on or before the 15th calendar day after the close of each month $100 per Calendar Day late/not received by the Contract Manager Failure to timely provide Quarterly Sales Reports, transaction fee reports, or other reports as required will result in the imposition of financial consequences and repeated failures or non- payment of financial consequences owed under this Contract may result in the Contractor being found in default and the termination of the Contract. No favorable action will be considered when Contractor has outstanding Contract Quarterly Sales Reports, MFMP Transaction Fee Reports, or any other documentation owed to the Department or Customer, to include fees / monies, that is required under this Contract.

  • Effects of Termination Upon the termination of this Agreement for any reason:

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