Remedies of Servicer for Breach by Department Sample Clauses

Remedies of Servicer for Breach by Department. Upon the failure by the Department duly to observe or perform in any respect any of the covenants, conditions or agreements applicable to it in this Agreement, for a period of sixty (60) after written notice, specifying such failure and requesting that it be remedied, is given by the Servicer to the Department, unless the Servicer shall agree in writing to an extension of such time prior to its expiration then a breach of this Agreement shall have occurred; provided, however, if the failure stated in the notice is correctable and cannot be corrected within the applicable time period, the Servicer will not unreasonably withhold this consent to an extension of such time if corrective action is instituted by the Department within the applicable period and diligently pursued until the failure is corrected. Nothing in this paragraph shall limit the Servicer’s ability to suspend its purchases of Mortgages under the Origination Agreement in accordance with Article 3 of this Agreement. The Department acknowledges and agrees that the Servicer’s failure or refusal to purchase Mortgages in accordance the Origination Agreement during any period in which the entity designated by the Department in accordance with Appendix A is not purchasing MBS in accordance with Article 3 of this Agreement shall not constitute a default or breach of any obligation of the Servicer under this Agreement.
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Related to Remedies of Servicer for Breach by Department

  • Breach and Remedies for Breach 14 10.1 Liquidated Damages Schedule and Schedule Amendments.

  • Remedies for Contractor Breach Pertaining to contract-related issues, it is the responsibility of both the Agency and the Contractor to communicate with each in as clear and complete a manner as possible. If at any time during the term of this contract the Agency or the Contractor is not satisfied with any issue, it is the responsibility of that party to deliver to the other party communication, in writing, fully detailing the issue and corrective action (please note that the Agency has the right to issue unilateral addendums to this contract, but the Contractor does not have the same right). The other party shall, within 10 days, respond in writing to the other party (however, the Agency shall retain the right to, if conditions warrant, require the Contractor to respond in a shorter period of time). Further, the Agency shall, at a minimum, employ the following steps in dealing with the Contractor as to any performance issues:

  • REMEDIES FOR BREACH It is understood and agreed that all rights and remedies afforded below shall be in addition to all remedies or actions otherwise authorized or permitted by law:

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  • BREACH BY SELLER In the event Seller shall fail to fully and timely perform any of its obligations hereunder or shall fail to consummate the sale of the Property for any reason, except Purchaser’s default, Purchaser may: (1) enforce specific performance of this Contract; or (2) request that the Escrow Deposit, if any, shall be forthwith returned by the title company to Purchaser.

  • Remedy for Breach The Executive agrees that in the event of a material breach or threatened material breach of any of the covenants contained in this Paragraph 6, the Company will have the right and remedy to have such covenants specifically enforced by any court having jurisdiction, it being acknowledged and agreed that any material breach of any of the covenants will cause irreparable injury to the Company and that money damages will not provide an adequate remedy to the Company.

  • REMEDY FOR BREACH AND RIGHT TO CURE Notwithstanding anything else in this Agreement to the contrary, if Contractor fails to perform any obligation of this Agreement, the County may itself perform, or cause the performance of, such agreement or obligation. In that event, Contractor will, on demand, fully reimburse County for all such expenditures. Alternatively, County, at its option, may deduct from any funds owed to Contractor the amount necessary to cover any expenditures under this provision. This is in addition to any other remedies available to the County by law or as otherwise stated in this Agreement.

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  • Liability for Breach 10.1 Either Party’s direct or indirect violation of any provisions hereof or failure to assume its obligations hereunder or failure to assume such obligations in a timely and adequate manner shall constitute breach of this Agreement. The non-breaching Party (“Non-Breaching Party”) shall have the right to require the breaching Party (“Breaching Party”) by written notice to redress its breach and take adequate, effective and timely measures to eliminate the consequences of such breach, and indemnify against the losses incurred by the Non-Breaching Party due to the breach of the Breaching Party.

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