CARDINAL OBLIGATION definition

CARDINAL OBLIGATION means, in accordance with § 8 clause 2 of the GTC HOTLINE a material contractual obligation the fulfilment of which is a prerequisite for the proper perfor- mance of the CONTRACT or on the fulfilment of which the CUSTOMER regularly relies and may rely;
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CARDINAL OBLIGATION means, in accordance with § 5 clause 2 of the GTC COMMER- CIAL GOODS a material contractual obligation, the fulfilment of which makes the proper per- formance of the CONTRACT possible in the first place or on the compliance of which the CUS- TOMER regularly relies and may rely;
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CARDINAL OBLIGATION means an obligation whose fulfilment is a prerequisite for the proper execution of the contract and upon the adherence to which the contracting party relies and may rely;
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Examples of CARDINAL OBLIGATION in a sentence

  • HID OR ITS SUPPLIERS SHALL ONLY BE LIABLE FOR THE VIOLATION OF AN OBLIGATION, THE PARTICULAR FULFILLMENT OF WHICH IS OF PARTICULAR SIGNIFICANCE FOR THE ACHIEVEMENT OF THE CONTRACTUAL PURPOSE (CARDINAL OBLIGATION).

  • THIS SHALL NOT APPLY TO DAMAGES CAUSED INTENTIONALLY OR DUE TO GROSS NEGLIGENCE BY MA LIGHTING, ITS REPRESENTATIVES OR ITS AGENTS OR DAMAGES RESULTING FROM A VIOLATION OF CARDINAL OBLIGATIONS OR MAJOR CONTRACTIONAL MAIN DUTIES RESULTING FROM ORDINARY NEGLIGENCE WHEREBY A CARDINAL OBLIGATION IN THIS TERMS IS AN ESSENTIAL CONTRACTUAL OBLIGATION WHOSE VIOLATION WOULD ENDANGER THE PURPOSE OF THE AGREEMENT.

  • FOR VIOLATION OF A CARDINAL OBLIGATION LIABILITY IS FURTHER LIMITED TO THE FEES PAID AND/OR OWED (AS APPLICABLE) BY CUSTOMER FOR THE PLANS, PRODUCTS, OR SERVICES THAT ARE THE SUBJECT OF THE BREACH.

  • IF FM BREACHES A CARDINAL OBLIGATION MERELY BY SIMPLE NEGLIGENCE, THE AMOUNT OF DAMAGES IS LIMITED TO THE AMOUNT THAT IS TYPICAL AND FORESEEABLE.

  • FOR DAMAGES CAUSED BY ORDINARY NEGLIGENCE, LIABILITY IS LIMITED TO THE INFRINGEMENT OF A CARDINAL OBLIGATION AND TO SUCH DAMAGES, WHICH MUST BE ANTICIPATED TYPICALLY WITHIN THE LEASE OF SOFTWARE, IN SUCH CASES COMPANY IS LIABLE FOR EACH DAMAGE CASE UP TO AN AMOUNT FIVE TIMES THE CHARGES ACTUALLY PAID BY LICENSEE IN THE PRECEDING TWELVE MONTH PERIOD PRIOR TO THE OCCURRENCE OF THE CAUSE OF ACTION GIVING RISE TO THE CLAIM FOR THE USE OF THE LICENSED PROGRAM WHICH CAUSED THE DAMAGE IN THE EVENT.

  • A CARDINAL OBLIGATION SHALL MEAN A PRECISELY DELINEATED CONTRACTUAL OBLIGATION WHOSE FULFILMENT IS ESSENTIAL TO ACHIEVING THE PURPOSE OF THE CONTRACT HENCE WITHOUT ITS FULFILMENT THE ACHIEVEMENT OF THE CONTRACT’S PUPROSE WOULD BE ENDANGERED OR A CONTRACTUAL OBLIGATION WHOSE FULFILMENT PERMITS FOR THE PROPER EXECUTION OF THE CONTRACT AND ON WHOSE FULFILMENT THE CUSTOMER COULD REGULARTLY RELY.OBLIGATIONS THAT ARE NOT COMPRISED BY THAT DEFINION SHALL NOT BE CARDINAL OBLIGATIONS.

  • HID OR ITS SUPPLIERS SHALL ONLY BE LIABLE FOR THE VIOLATION OF AN OBLIGATION, THE PARTICULAR FULFILMENT OF WHICH IS OF PARTICULAR SIGNIFICANCE FOR THE ACHIEVEMENT OF THE CONTRACTUAL PURPOSE (CARDINAL OBLIGATION).

Related to CARDINAL OBLIGATION

  • Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of trust certificates or other instruments intended to be issued in compliance with the principles of Shari'ah, whether or not in return for consideration of any kind.

  • Additional Obligor means an Additional Borrower or an Additional Guarantor.

  • Municipal Obligation means municipal securities as described in the prospectus or other offering document for a Series.

  • Credit Improved Obligation means any Collateral Debt Obligation which, in the Investment Manager’s judgment, has significantly improved in credit quality and in respect of which one of the following is satisfied:

  • Financial Obligation means a (i) debt obligation; (ii) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or (iii) guarantee of (i) or (ii). The term Financial Obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with the Rule.

  • Net Obligation means the amount owed to PJMSettlement and PJM for purchases from the PJM Markets, Transmission Service, (under Tariff, Parts II and III , and other services pursuant to the Agreements, after applying a deduction for amounts owed to a Participant by PJMSettlement as it pertains to monthly market activity and services. Should other markets be formed such that Participants may incur future Obligations in those markets, then the aggregate amount of those Obligations will also be added to the Net Obligation.

  • Compliance obligation means the quantity of verified reported emissions or assigned emissions for which an entity must submit compliance instruments to ARB.

  • Relevant Sukuk Obligation means any undertaking or other obligation to pay any money given in connection with the issue of Islamic-compliant certificates, whether or not in return for consideration of any kind, which for the time being are, or are intended to be, or are capable of being, quoted, listed or ordinarily dealt in or traded on any stock exchange, over-the-counter or other securities market.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • U.S. Obligations means non-redeemable securities evidencing an obligation to timely pay principal and/or interest in a full and timely manner that are direct obligations of the United States of America for the payment of which its full faith and credit is pledged.

  • Legal financial obligation means a sum of money that is

  • Municipal Obligations means Municipal Bonds as described in the Offering Memorandum.

  • Senior Obligations is defined in Section 5.1 of this Agreement.