PENALTY CLAUSES. The penalties imposed for violation of service agreement clauses shall be notified by IIMC as per the terms indicated. The SERVICE PROVIDER shall be given 5 business working days to respond to the levying of penalties and submit representations if any. The representations shall be suitably considered by IIMC and decision taken shall be final and binding. The penalties imposed shall be deductible from payments due to service provider and/or from the Security Deposit. In the event the payments due to the SERVICE PROVIDER and the security deposit available with IIMC falls short of the total penalty recoverable from the SERVICE PROVIDER whether on account of the quantum of loss caused by the workmen of the SERVICE PROVIDER or otherwise, the SERVICE PROVIDER shall, on first written demand by IIMC pay to IIMC without demur or dispute the said sum as per IIMC’s demand notwithstanding the pendency of any investigation/inquiry/legal proceedings whatsoever before any Court/ Tribunal/Authority etc. The amount of loss determined by IIMC shall be final and binding on the SERVICE PROVIDER.
PENALTY CLAUSES i. Black listing from all Departmental tenders (called by the CMS or others) of the Tenderer, the Principals of the firm(s) and the In case of supply of the sub-standard items found in the quality test as per quality assurance norms, the detective batch /batches determined by the appropriate authority will be returned to the tenderers for replacement. The payment of the defective batches will not be made to the supplier till replacement or if paid in the meantime, is to be deducted from the pending bills of the tenderer or from performance bank guarantee.
PENALTY CLAUSES. 4.1 XGT assumes no liability arising from penalty or liquidated damage clauses of any kind, written or implied, unless approved in writing by XGT's duly authorized representative.
PENALTY CLAUSES. Further, DMRC can impose the fine on Licensee up to Rs.5,000/- per offence per instance on the following offenses: -
PENALTY CLAUSES. It is possible that a Luxembourg court (if having jurisdiction) would consider for instance Section 9.03 (c) of the Credit Agreement whereby the Company may be obliged to pay additional interest on the related Euro-Dollar loan at a rate per annum determined by the relevant Lender as a penalty clause (clause pénale). Penalty clauses (clauses pénales), and similar clauses on damages or liquidated damages, as governed by article 1152 and articles 1226 et seq. of the Luxembourg civil code are allowed to the extent that they provide for a reasonable level of damages. The Luxembourg judge (if competent) has however the right to reduce (or increase) the amount thereof if it is unreasonably high (or low). The provisions of article 1152 and articles 1226 et seq. of the Luxembourg civil code are generally considered to be a point of public policy under Luxembourg law. It is possible that a Luxembourg court would consider them to be a point of international public policy that would set aside the relevant foreign governing law.
PENALTY CLAUSES. The Agreement does not contain penalty clauses for the violation of commitments undertaken through the Agreement.
PENALTY CLAUSES. 14.1 In case the line is suspended due to the Subscriber, and in particular because the Subscriber fails to meet one of his obligations set forth in Article 7, the suspension fee should remain due until the end or termination of the present agreement.
PENALTY CLAUSES. The Company will not accept any penalty or liquidated damage clauses of any kind, written or implied, or any liabilities arising from such clauses, unless specifically approved in writing by a duly authorized representative of the Company.
PENALTY CLAUSES. 1. At an assessment of insufficiency (4), by the office-manager or Supervisor in Suriname, the contractor will have to pay a fine of Euro 50, -, to the client.
PENALTY CLAUSES. There are no penalty clauses in respect of failure to meet obligations under the Agreement.
