Termination and Default definition

Termination and Default if the Contractor fails to fulfill its obligations under this contract, the Board, in consultation with the New Haven Early Childhood Council may: • Temporarily Withhold payments until the obligation is fulfilled to the satisfaction of the Board; • Temporarily or permanently discontinue services under the Agreement; • Require that unexpended funds be returned to the Board; • Assign appropriate personnel to execute the Agreement until such time as corrections have been made to the satisfaction of the Board; • Require that this contract be assigned to an agency or person designated by the Board to bring the program into contractual compliance. • Terminate this Agreement; or • Take such other action, as the Board believes necessary.
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Termination and Default if the Contractor fails to fulfill its obligations under this contract, the Board may:  Temporarily Withhold payments until the obligation is fulfilled to the satisfaction of the Board;  Temporarily or permanently discontinue services under the Agreement;  Require that unexpended funds be returned to the Board;  Assign appropriate personnel to execute the Agreement until such time as corrections have been made to the satisfaction of the Board;  Require that this contract be assigned to an agency or person designated by the Board to bring the programintocontractual compliance.  Terminate this Agreement; or  Take such other action, as the Board believes necessary.
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Examples of Termination and Default in a sentence

  • Clauses 4 (Warranties and Indemnities), 7 (Termination and Default), 8 (Consequences of Termination), 9 (Loss or Damage), 10 (Exclusions and Limitations), 15 (Confidentiality), 17 (General) and 18 (Definitions and Interpretation) survive the termination or expiry of the Contract.

  • Failure to safeguard and mitigate the damages of a breach of information as set forth herein shall constitute a default pursuant to Section 20 (Termination and Default) under this Agreement.

  • Failure of the Vendor to comply with these requirements will be sufficient grounds for the Department to declare the Agreement in default subject to the terms of Section 6, Termination and Default, of the Standard Written Agreement.

  • Failure of the Vendor to comply with these requirements will be sufficient ground for the Department to declare the contractor in default and subject to the terms of Chapter 6, Termination and Default, of the Standard Written Agreement.

  • Failure to comply with the requirements of this Section 10 (Copyrights and Patents) of this Agreement shall constitute a default pursuant to Section 20 (Termination and Default) under this Agreement.

  • This Section 19 (Termination and Default) of the Agreement shall survive the expiration or sooner termination of this Agreement.

  • The VENDOR shall be paid through the Fiscal Sponsor within thirty (30) days of completion of each item listed in the above payment schedule, unless there is a dispute as it pertains to the Scope of Services as set forth in this Section 3 (Compensation and Billing) of this Agreement and/or the Vendor or Fiscal Sponsor is in default as set forth in Section 20 (Termination and Default) of this Agreement.

  • In addition, any obligation to pay the Vendor through the Fiscal Sponsor as set forth hereunder is contingent on the Vendor and Fiscal Sponsor not being in default as set forth under Section 20 (Termination and Default) of this Agreement.

  • Failure of the Vendor to comply with these requirements will be sufficient ground for the Department to declare the Contract in default subject to the terms of Section 6, Termination and Default, of the Standard Written Agreement.

  • Failure of the Vendor to comply with these requirements will be sufficient grounds for the Department to declare the Vendor in default and subject to the terms of Section 6, Termination and Default, of the Standard Written Agreement.

Related to Termination and Default

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration 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.

  • Event of Termination has the meaning specified in Section 7.01.

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Forbearance Termination Date means the earlier to occur of (i) the closing of a Transaction; (ii) October 31, 2001, or (iii) the date upon which the Forbearance Default occurs.

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • Specified Default means a Default under Section 8.01(a), (f) or (g).

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Termination Events means each of the events specified in Clause 10.3 of this Contract.

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Specified Defaults means, collectively, the Existing Defaults and the Anticipated Defaults.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.