Non-Performance


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Non-Performance

The state of not doing the work one was hired to do. For example, suppose a video editor is hired to produce five 10-minute videos. If the client does not receive the videos in the allotted time and there is no evidence that the editor has done any work, he may be liable for non-performance on the contract. Non-performance may be actionable.
References in periodicals archive ?
Fitch did not apply additional notching for incremental non-performance risk relative to the VR given that any loss absorption would only occur once the bank reaches the point of non-viability.
Chapters address the scope of application of general contract principles, the concept of non-performance, the force majeure excuse, and hardship, along the way examining such elements as contractual risk allocations, unforseeability of an impediment, impediments beyond the typical sphere of risk and control of the obligor, responsibility for third parties, legal impediments, involvement of states or state enterprises, the hardship threshold test, frustration of purpose, irreconcilable differences, and comparison with exemptions under domestic legal systems.
ACGL's hybrid securities ratings could be lowered by one notch to reflect non-performance risk should Fitch view Bermuda's regulatory environment as becoming more controlling in its supervision of (re)insurers.
in case of late payment after each start of the delay, 1% of the fee, but up to 30% of the fee, in case of non-execution 30% of the fee, in case of non-performance of a given drawdown 30% of the fee settlement; in the event of non-performance of the entire contract (if the client terminates the entire contract by extraordinary notice or terminates the entire contract) 30% of the contractual value left unanswered.
Additional Tier 1 securities are rated five notches below Nordea's VR to reflect the higher-than-average loss severity risk of these securities (two notches from the VR) as well as the high risk of non-performance (an additional three notches).
In case of non-performance of the entire contract (if the Customer cancel the entire contract extraordinary notice or withdraws from the entire contract) 30% of the contract value remained without fulfillment;
Awards such as these are often questioned as pay for non-performance," said Steven Hall, Managing Director of Steven Hall & Partners.
We expect to apply a baseline recovery assumption of 'poor' to the proposed notes, reflecting the level of subordination, and our assessment of 'moderate' non-performance risk due to the notes' mandatory interest and redemption deferral features.
Subsequently, the company received from the Trustee, on behalf of Laurus, Notice of Trustee's Sale and Statement of Breach of Non-Performance and Notice of Election to Sell the Company's property and fixtures at 3910 East Weir Avenue, Phoenix, Arizona, at an auction to be held on March 2, 2006.
We have applied to the Tier 2 notes a baseline recovery assumption of 'poor', reflecting the level of subordination, and a non-performance risk assessment of 'moderate', reflecting the mandatory interest deferral feature.
performance or non-performance by Calpine Corporation and applicable subsidiaries of contracts with Calpine Power Income Fund and its applicable subsidiaries or investees, legislative or regulatory developments, competition, general economic conditions and other risks identified in the management discussion and analysis of Calpine Power Income Fund for the fiscal year ended December 31, 2005 and the fiscal quarter ended September 30, 2005, each of which is available on www.
We do not notch the notes for non-performance risk because there is no coupon flexibility included in their terms.