DEFAULT 6 Sample Clauses

DEFAULT 6. 1 If Boral Energy fails to pay any of the costs at the times required under this Agreement then Indo-Pacific and/or Moondance may after giving Boral Energy 14 days notice to remedy the default, pay such costs and recover the sum (if applicable) not so paid as a liquidated debt, together with interest on the amount outstanding at the rate charged from time to time by Indo-Pacific's or Moondance's bankers on overdrafts in excess of $100,000 such interest being calculated on a daily basis from the date of payment by Indo-Pacific or Moondance until the date of recovery from Boral Energy, capitalised on the last day of each month. 6.2 In the event that Boral Energy fails to remedy the default in clause 6.1 after a further 30 days then Indo-Pacific or Moondance may require Boral Energy to forthwith assign to Indo-Pacific and Moondance the Indo-Pacific Assigned Interest and the Moondance Assigned Interest as the case may be assigned to Boral Energy under this Agreement for no consideration other than the complete discharge of all liability of Boral Energy under, and in respect of, this Agreement. 6.3 The Parties acknowledge and agree that the provisions of clause 6.1 and 6.2 arise out of a genuine attempt to compensate Indo-Pacific and Moondance for any loss and damage estimated by the Parties to be suffered by Indo-Pacific and Moondance as a result of an unremedied default of Boral Energy and Boral Energy shall not be liable for any costs charges or damages whether direct indirect or consequential.
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DEFAULT 6. 7.1 No Default shall exist where such failure to discharge an obligation (other than the payment of money) is the result of a Force Majeure Event as defined in this Agreement or the result of an act or omission of the other Party. Upon a Default, the non-Defaulting Party shall give written notice of such Default to the Defaulting Party. Except as provided in article 6.7.2, the defaulting Party shall have sixty (60) calendar days from receipt of the Default notice within which to cure such Default; provided, however, if such Default is not capable of cure within sixty (60) calendar days, the defaulting Party shall commence such cure within twenty (20) calendar days after notice and continuously and diligently complete such cure within six months from receipt of the Default notice; and, if cured within such time, the Default specified in such notice shall cease to exist. 6.7.2‌ If a Default is not cured as provided in this article, or if a Default is not capable of being cured within the period provided for herein, the non-defaulting Party shall have the right to terminate this Agreement by written notice at any time until cure occurs, and be relieved of any further obligation hereunder and, whether or not that Party terminates this Agreement, to recover from the defaulting Party all amounts due hereunder, plus all other damages and remedies to which it is entitled at law or in equity. The provisions of this article will survive termination of this Agreement.
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Related to DEFAULT 6

  • Repayment on Event of Default When there is an Event of Default, Borrower will, if Bank demands (or, upon the occurrence of an Event of Default under Section 8.5, immediately without notice or demand from Bank) repay all of the Advances. The demand may, at Bank’s option, include the Advance for each Financed Receivable then outstanding and all accrued Finance Charges, the Early Termination Fee, Collateral Handling Fee, attorneys’ and professional fees, court costs and expenses, and any other Obligations.

  • Event of Default; Waiver The Holders of a Majority in Liquidation Amount of the Preferred Securities may, on behalf of the Holders, waive any past Event of Default and its consequences. Upon such waiver, any such Event of Default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have been cured, for every purpose of this Guarantee Agreement, but no such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent therefrom.

  • Event of Default; Notice (a) The Guarantee Trustee shall, within 90 days after the occurrence of an Event of Default, transmit by mail, first class postage prepaid, to the Holders, notices of all Events of Default known to the Guarantee Trustee, unless such defaults have been cured before the giving of such notice, provided, that, except in the case of a default in the payment of a Guarantee Payment, the Guarantee Trustee shall be protected in withholding such notice if and so long as the Board of Directors, the executive committee or a trust committee of directors and/or Responsible Officers of the Guarantee Trustee in good faith determines that the withholding of such notice is in the interests of the Holders.

  • Event of Default Remedies 8.1 Any one or more of the following acts or omissions of the Contractor shall constitute an event of default hereunder (“Event of Default”):

  • Post-Default Interest Upon the occurrence, and during the continuance, of any Event of Default, the unpaid principal amount of each Advance shall bear interest at a rate per annum equal at all times to 2% per annum above the rate per annum otherwise required to be paid on such Advance in accordance with subsection (a), (b) or (c) above; provided that any amount of principal which is not paid when due (whether at stated maturity, by acceleration or otherwise) shall bear interest, from the date on which such amount is due until such amount is paid in full, payable on demand, at a rate per annum equal at all times to the greater of (x) 2% per annum above the Base Rate in effect from time to time and (y) 2% per annum above the rate per annum required to be paid on such Advance immediately prior to the date on which such amount became due.

  • Events of Default, Etc During the period during which an Event of Default shall have occurred and be continuing:

  • Event of Default Defined Acceleration of Maturity; Waiver of Default. "Event of Default" with respect to Securities of any series wherever used herein, means each one of the following events which shall have occurred and be continuing (whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body):

  • Default or Event of Default No Default or Event of Default hereunder has occurred or is continuing or will occur as a result of the giving effect hereto.

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