Default and Remedies definition

Default and Remedies. If either party defaults in any respect on any material obligations under this Contract, the non-defaulting party may elect to be released from all obligations under this Contract by canceling this Contract as provided in Lines 298-305 below. The non-defaulting party may thereafter proceed against the party indefault upon any claim or remedy which the non-defaulting party may have in law or equity. In the case of the Seller, because it would be difficult to fix actual damages in the event of Buyer's default, thx xxxunt of the earnest money may be xxxxxx a reasonable estimate of the damages; and Seller may at Seller's option retain the earnest money deposit, xxxxect to any compensation to Brokers, as Seller's sole right to damages. In the event that the non-defaulting party elects not to cancel this Contract, the non-defaulting party may proceed against the party in default for specific performance of this Contract or any of its terms, in addition to any claim or remedy which the non-defaulting party may have in law or equity. In the event that either party pursues specific performance of this Contract, that party does not waive the right to cancel this Contract pursuant to Lines ??? below at any time, and proceed against the defaulting party as otherwise provided herein, or in law or equity. If Buyer or Seller files suit against the other to enforce any provision of this Contract or for damages sustained by reason of its breach, all parties prevailing in such action, on trial and appeal, shall receive their reasonable attorneys' fees and costs as awarded by the court. In addition, both Seller and Buyer agree to indemxxxx and hold harmless all Brokers against all costs and expenses, which any Broker may incur or sustain in connection with any lawsuit arising from this Contract and will pay the same on demand unless the court shall grant judgment in such action against the party to be indemnified. Costs shall include, but not be limited to, attorneys' fees, expert witness fees, fees paid to investigators, and court costs.

Default and Remedies. Any of the following events will constitute cause for the State to declare Contractor in default of the contract 1. Nonperformance of contractual requirements; 2. A material breach of any term or condition of this contract. The State will issue a written notice of default providing a period in which Contractor will have an opportunity to cure. Time allowed for cure will not diminish or eliminate Contractor's liability for liquidated or other damages. If the default remains, after Contractor has been provided the opportunity to cure, the State may do one or more of the following: 1. Exercise any remedy provided by law; 2. Terminate this contract and any related contracts or portions thereof; 3. Impose liquidated damages; 4. Suspend contractor from receiving future bid solicitations.

Default and Remedies. Provisions governing default and remedies including the provisions described in Appendix “C”.

Examples of Default and Remedies in a sentence

• Notwithstanding the foregoing and section 2 on page 1, this section and the provisions of this agreement concerning insurance (Exhibit B), Funding Agency Requirements (as set forth in Exhibit D if applicable), Work Product and Records, Confidential Information, Responsibility of Consultant, Indemnification, Default and Remedies, Litigation, and Jurisdiction and Severability shall survive termination or expiration of this agreement.

• Notwithstanding the Liability and Indemnity Section or this Cancellation, Default and Remedies Section, the Consultant shall not be relieved of liability to the City for damages sustained by the City as a result of any breach of this Contract by the Consultant.

• The following provisions are incorporated into the Agreement: Default and Remedies.

• Events of Default and Remedies are set forth in Article 6 of the Indenture.

• Events of Default and Remedies are set forth in Article VI of the Indenture.

• This Contract shall be in full force and effect from through unless otherwise extended by the City or terminated earlier under Section XV, Cancellation, Default and Remedies.

• Failure to comply with this provision constitutes a default under Article XVI, Default and Remedies.

• Notwithstanding anything herein to the contrary, the Outstanding TIFIA Loan Balance and any accrued interest thereon shall be due and payable in full on the Final Maturity Date (or on any earlier date on which the maturity of the TIFIA Loan shall be accelerated pursuant to the provisions of Section 20 (Events of Default and Remedies)).

• ISO Recourse to Section 103.7 Financial Default and Remedies11 The failure of a market participant to comply with its obligations to provide financial security under this Section 103.3, or to keep the financial security in force and effect, is deemed to be a default event which will allow the ISO to have recourse to the rights and remedies of the ISO under Section 103.7 of the ISO rules, Financial Default and Remedies.

• The inclusion of the Performance Guarantees in this Contract is intended to address unsatisfactory performance in the context of ongoing operations without resort to the default provisions set forth in Section 8: Events of Default and Remedies.

More Definitions of Default and Remedies

Default and Remedies. The Lease contains customary default and remedy provisions