Failure attributable? Sample Clauses

Failure attributable?. The question of failure is separate from the question whether such failure can also be attributed to the debtor. The debtor may argue that the failure cannot be attributed to him, however, this is irrelevant for the question if failure has occurred at all. In order to terminate an agreement, the existence of failure in itself is sufficient (attributability is therefore not a requirement). If there is also attributable failure, the creditor is entitled to damages as well. The question is then what damages he is suffering due to the fact that the performance is not delivered. Take, for instance, the profit the manufacturer could have realised if he had sold machinery that would have been (but now is not) produced by him.
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Related to Failure attributable?

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  • How Do I Correct an Excess Contribution? If you make a contribution in excess of your allowable maximum, you may correct the excess contribution and avoid the 6% penalty tax for that year by withdrawing the excess contribution and its earnings on or before the date, including extensions, for filing your tax return for the tax year for which the contribution was made (generally October 15th). Any earnings on the withdrawn excess contribution may also be subject to the 10% early distribution penalty tax if you are under age 59½. In addition, although you will still owe penalty taxes for one or more years, excess contributions may be withdrawn after the time for filing your tax return. Excess contributions for one year may be carried forward and applied against the contribution limitation in succeeding years. An individual who is partially or entirely ineligible to make contributions to a Xxxx XXX may transfer amounts of up to the yearly contribution limits to a non-deductible Traditional IRA (subject to reduction for amounts remaining in the Xxxx XXX plus other Traditional IRA contributions).

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  • Ineligible Costs ‘Ineligible costs’ are:

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