Failure to Perform definition

Failure to Perform. As defined Article 16.

Failure to Perform means the failure of a Party to complete a material act with respect to its delivery, payment or other obligation after the expiration of the period allowed for the late performance of such act;

Failure to Perform means a circumstance wherein the Owner or Contributor shall fail to perform a material obligation which is required to be performed by Contributor or Owner pursuant to this Agreement. If a Failure to Perform is in connection with, or causes, a financial obligation of the Project or Owner to result with respect to matters arising or occurring prior to the Contribution Date, the Failure to Perform shall be considered an Undisclosed Liability Representation for purposes of this Agreement.

Examples of Failure to Perform in a sentence

• If the Failure to Perform is without the defaulting party’s control, fault, or negligence, the termination shall be deemed to be a Termination for Convenience.

• The Total or Partial Failure to Perform the Scope of Supply section in the Terms and Conditions of Contract will not be applicable in these circumstances.

• If Vendor fails to perform any substantial obligation under this Contract, Purchaser shall give Vendor written notice of such Failure to Perform.

• See Subsection 641-3.04 Failure to Perform Work, for additional work and payment requirements.

• If after thirty (30) calendar days from the date of the written notice Vendor still has not performed, then Purchaser may withhold all monies due and payable to Vendor, without penalty to Purchaser, until such Failure to Perform is cured or otherwise resolved.

More Definitions of Failure to Perform

Failure to Perform means in respect of a Buyer Clearing Member or Seller Clearing Member, its failure or that of its Customer to perform its obligations for the purposes of making or taking delivery of Oil in accordance with the terms of the Contract other than as a result of a Force Majeure Event, and Failed to Perform shall be construed accordingly.

Failure to Perform means the failure of a buyer or seller to complete a material act with respect to a delivery obligation prior to the expiration of the period allowed for the late performance of such act.

Failure to Perform means that either:

Failure to Perform. As defined in Section 16.1.

Failure to Perform. As defined in Section 10.

Failure to Perform means the failure of the short position holder to make, or the long position holder to receive, delivery of crude oil in accordance with the requirements set forth in these rules.

Failure to Perform has the meaning given in paragraph 3 of Schedule 3.