What is the name of your state (only U.S. law)? Illinois
Hi,
I'm a consultant and I plan to do work for a client. I was reading the contract and I saw this:
Both parties shall have the right upon the happening of any Default, providing written notice to the other party to
proceed at any time or from time to time to protect and enforce all rights and remedies available to each
party, by suit or any other appropriate proceedings, whether for specific performance of any covenant, term or
condition set forth in this Agreement, or for damages or other relief, or proceed to take any action authorized or
permitted under applicable law or regulations, in equity or pursuant to this Agreement.
So what does the above mean?
The word Default I assume is referring to this:
“Default” shall mean any of the following: (i) if any representation or warranty, expressed or implied, contained in this
Agreement shall prove at any time to be incorrect or misleading in any material respect, and CONSULTANT fails
to correct such breach of misrepresentation or warranty within ten (10) days of CLIENT’s written notice thereof;
(ii) if CONSULTANT shall fail to comply with the terms of any covenant, condition, agreement or any express or
implied warranty contained in this Agreement, and CONSULTANT fails to correct such non-compliance within
ten (10) days of CLIENT’s written notice thereof; or (iii) if the services hereunder are not performed in good
faith and in accordance with the provisions of this Agreement, and CONSULTANT fails to correct such failure in
performance within ten (10) days of CLIENT’s written notice thereof.
Thanks for your help!
Hi,
I'm a consultant and I plan to do work for a client. I was reading the contract and I saw this:
Both parties shall have the right upon the happening of any Default, providing written notice to the other party to
proceed at any time or from time to time to protect and enforce all rights and remedies available to each
party, by suit or any other appropriate proceedings, whether for specific performance of any covenant, term or
condition set forth in this Agreement, or for damages or other relief, or proceed to take any action authorized or
permitted under applicable law or regulations, in equity or pursuant to this Agreement.
So what does the above mean?
The word Default I assume is referring to this:
“Default” shall mean any of the following: (i) if any representation or warranty, expressed or implied, contained in this
Agreement shall prove at any time to be incorrect or misleading in any material respect, and CONSULTANT fails
to correct such breach of misrepresentation or warranty within ten (10) days of CLIENT’s written notice thereof;
(ii) if CONSULTANT shall fail to comply with the terms of any covenant, condition, agreement or any express or
implied warranty contained in this Agreement, and CONSULTANT fails to correct such non-compliance within
ten (10) days of CLIENT’s written notice thereof; or (iii) if the services hereunder are not performed in good
faith and in accordance with the provisions of this Agreement, and CONSULTANT fails to correct such failure in
performance within ten (10) days of CLIENT’s written notice thereof.
Thanks for your help!