Penalty Provision. If either party has breached the terms of this contract and has not cured the breach, the non-breaching party may elect to pursue any available administrative, contractual, or legal remedy including, but not limited to, termination. [2 CFR 200 Appendix II(A)(B)]
Penalty Provision. 16.9.1. Penalties for violation of the Tax Code shall be applied in accordance with the legislation operating at the moment of that violation.
Penalty Provision. Customer shall be liable under the penalty provisions established in Company's Interruptible Transportation Service Schedule (if service is provided to Customer in Minnesota) or its Large Commercial Interruptible Transportation Service Schedule (if service is provided to Customer in North Dakota).
Penalty Provision. 11.1 The tenant and the landlord agree that, if the tenant fails to perform his obligation/s under the following provision/s, he will forfeit to the landlord an immediately payable penalty as stated below:
Penalty Provision. In the event the audit is not completed by the end of the first quarter of 2012, the CEO/President and majority shareholder of Team Sports will be penalized one million shares in this Stock Value Agreement. In order words, if the CEO/President and majority shareholder is entitled to receive 29,000,000 restricted common shares from Xx. Xxxxxxxx, if the audited financials are not completed by March 31, 2012, he will need to return 1,000,000 restricted shares to Xx. Xxxxxxxx. Every subsequent quarter where the audit financials are not completed for Team Sports, an additional 1,000,000 common share penalty will apply, whereby these shares will be returned to Xx. Xxxxxxxx.
Penalty Provision. The purchaser acknowledges that if he unilaterally elects not to proceed with the purchase of the unit for any reason whatsoever, after the loan referred to in clause 3 has been granted, then the purchaser agrees that the initial deposit/s referred to in 1.13, together with any interest earned thereon, shall be forfeited to the seller and/or the agent (less any costs incurred by the attorneys). Notwithstanding the aforegoing, the provisions of this clause shall not prejudice the seller's rights in terms of clause 12 hereof.
Penalty Provision. If the Company does not file a Registration Statement registering the resale of the Registrable Shares by December 31, 2013, other than as a result of the Commission being unable to accept such filings (a “Registration Default”), then each of Xxxx Xxxxxxxxxx and Xxxxxx Xxxxxxxxxx, if employed by the Company and at any time is owed an annual and/or discretionary bonus with respect to services performed in 2013, whether under an employment agreement with the Company, a bonus plan or any other bonus arrangement, including any bonus compensation for which payment would otherwise be deferred until after that fiscal year, shall forfeit fifty percent (50%) of the amount that would otherwise be payable to him or her in respect of such bonus, and shall thereafter forfeit an additional ten percent (10%) of the amount that would otherwise be payable to him or her in respect of such bonus for each complete calendar month any such Registration Default continues after December 31, 2013 until the Shelf Registration Statement is filed. The Company acknowledges and agrees that that no bonuses, compensation, awards, equity compensation or other amounts shall be payable or granted in lieu of or to make Xxxx Xxxxxxxxxx and Xxxxxx Xxxxxxxxxx whole for any such forfeited bonuses.
Penalty Provision. If the Company does not file a Registration Statement registering the resale of the Registrable Shares by May 19, 2014, other than as a result of the Commission being unable to accept such filings (a “Registration Default”), then the Manager shall forfeit fifty percent (50%) of the base management fee that would otherwise be payable to it pursuant to the Management Agreement for such period a Registration Default continues after May 19, 2014 until a Shelf Registration Statement is filed. The Company acknowledges and agrees that that no fees, compensation, bonuses, or other amounts shall be payable in lieu of, or to make the Manager whole for, any such forfeited amount of the base management fee.
Penalty Provision. 13.1. In the event of a breach of this processing agreement, the processor will forfeit a fine per violation and per day that the violation continues to the controller. Without prejudice to the right of the controller to claim (full) compensation. The total amount of compensations can never exceed the total value of the Contract.
Penalty Provision. In the event the Arrangement is not completed within 120 days from the date of issuance of the GSV Unit Subscription Receipts (the “Release Period”), the holders of GSV Unit Subscription Receipts will thereafter be entitled to receive an additional 0.05 of a GSV SR Unit for each GSV Unit Subscription Receipt held (excluding any GSV Unit Subscription Receipts previously exchanged for GSV SR Units upon release of the Partial Proceeds) upon completion of the Arrangement. For each additional 30 day period (or any portion thereof) commencing on the date that is three months following the expiry of the Release Period in which GSV fails to satisfy the Release Condition, holders of GSV Unit Subscription Receipts will thereafter be entitled to receive a further 0.05 of a GSV SR Unit for each GSV Unit Subscription Receipt held (excluding any GSV Unit Subscription Receipts previously exchanged for GSV SR Units upon release of the Partial Proceeds) upon completion of the Arrangement. If the Arrangement is not completed within one year following the closing of the Concurrent Financing, the Gross Proceeds of the Concurrent Financing, less any Partial Proceeds previously released from escrow, together with any accrued interest or other income earned thereon will be returned, on a pro rata basis, to the purchasers of GSV Unit Subscription Receipts and the GSV Unit Subscription Receipts will be cancelled.
