Rectification of Defaults Clause Samples

Rectification of Defaults. Franchisee shall promptly rectify all defaults or failures to perform any of its obligations under this Deed as specified elsewhere in this Deed upon receipt of written notice from Franchisor.

Rectification of Defaults. If within 10 business days after receiving notice to rectify any default, the Subcontractor fails to do so, then Systemax, at the cost of the Subcontractor, may without prejudice to any other rights that it may have under the agreement exercise all or any of the following: • Suspend all payments. • Engage another subcontractor to perform the works. • Terminate this Agreement. Upon termination the Subcontractor shall not be entitled to any damages or further payments whatsoever.

Rectification of Defaults. If in the opinion of KVIC there is a major breach by RII of the terms herein contained or for any reason RII is not in a position to continue the assignment, KVIC shall have the right to bring to the notice of RII the breach or the fact of its inability to successfully continue the assignment and upon the failure of RII to rectify the breach or successfully continue the assignment within 45 days thereof, this agreement shall be terminated by KVIC whereupon RII shall be removed from the assignment forthwith and shall refund the entire amount released by the KVIC.

Rectification of Defaults. If in the opinion of KVIC there is a major breach by Implementing Agency of the terms herein contained or for any reason Implementing Agency is not in a position to continue the assignment, KVIC shall have a right to bring to the notice of Implementing Agency the breach or the fact of its inability to successfully continue the assignment and upon the failure of Implementing Agency to rectify the breach or successfully continue the assignment within 45 days thereof, this agreement shall be terminated by KVIC whereupon Implementing Agency shall be removed from the assignment forthwith and shall refund the entire amount released by the KVIC.