Additional Seller Events of Default Sample Clauses
The "Additional Seller Events of Default" clause defines specific circumstances, beyond the standard defaults, under which the seller is considered to be in default under the agreement. This may include events such as the seller's insolvency, failure to maintain required licenses, or breaches of particular representations and warranties. By clearly outlining these extra triggers for default, the clause ensures that the buyer has explicit grounds to take remedial action if the seller fails to meet certain critical obligations, thereby allocating risk and providing greater certainty in the contractual relationship.
Additional Seller Events of Default. An “Event of Default” shall also mean with respect to Seller the occurrence of any of the following:
Additional Seller Events of Default. An “Event of Default” shall also
13.2.1 if Seller, on behalf of the Facility, receives, or has received, a grant or rebate from Connecticut Green Bank or either of its predecessors CEFIA or CCEF, or any successor agency or fund (subject to the clarifications set forth in Section 4.1.6), or a contract for the sale of the output of the facility to either of the Electric Distribution Companies; or, if Seller fails to satisfy any and all of the conditions set forth in Article 4 within twelve (12) months of the Delivery Term Start Date; or,
13.2.2 if Seller fails to deliver any RECs from the Facility to Buyer for twenty- four (24) consecutive months.
Additional Seller Events of Default. Any of the following events shall constitute an Event of Default of Seller.
(a) In the event that the Initial Delivery Date occurs more than one-hundred hundred eighty (180) days after the Guaranteed Initial Delivery Date, excluding any number of days associated with extensions of the Guaranteed Initial Delivery Date for Force Majeure Events as provided by the definition of Guaranteed Initial Delivery Date;
(b) The failure by Seller to deliver to Buyer in accordance with this Agreement any Products required to be delivered hereunder or delivery or sale of any such Products to any Person other than Buyer if not expressly permitted under this Agreement and such failure is not remedied within five (5) Business Days after written notice thereof is received;
(c) PJM shall have declared Seller to have committed an event of default under any provision of the PJM Agreements (after the applicable cure periods therein) if such default is not remedied within thirty (30) days after the declaration is made;
(d) The failure by Seller to provide a Guaranty or other Performance Assurance as Required by Article 10;
(e) The failure by Seller to comply with Section 6.7 if such failure is not remedied as soon as practicable (and no more than thirty (30) days) after Seller becomes aware of such failure;
(f) The failure by Seller to obtain and maintain insurance as required under Section 6.16 if such failure is not remedied within ten (10) Business Days after written notice thereof is received; and
(g) The failure by Seller to maintain the Availability Requirement, as required under Section 6.12, for two Contract Years (including two non-consecutive Contract Years).
Additional Seller Events of Default. An “Event of Default” shall also mean with respect to Seller the occurrence of any of the following: if Seller fails to satisfy any and all of the conditions set forth in Section 4.1.1 through Section 4.1.5 by the fortieth (40th) Business Day after the Guaranteed Energized Date or any approved extension thereof; or, if Seller fails to satisfy Section 4.1.6 by the Date of Initial REC Delivery; or, for Systems that are Energized and registered with PJM-EIS GATS or M-RETS after the Effective Date of this Agreement, if Seller fails to Deliver any REC pursuant to this Agreement from the System to Buyer within 90 calendar days (or 180 calendar days if the Final System Size is equal to or less than 5kW) of when System is Energized and registered with PJM-EIS GATS or M-RETS, or any approved extension thereof; or for Systems that are Energized and registered with PJM-EIS GATS or M-RETS on or prior to the Effective Date of this Agreement, if Seller fails to Deliver any REC pursuant to this Agreement from the System to Buyer within 90 calendar days (or 180 calendar days if the Final System Size is equal to or less than 5kW) of the Effective Date of this Agreement, or any approved extension thereof; or if Seller fails to Deliver any RECs pursuant to this Agreement from the System for a consecutive period of six (6) months during the Delivery Term, unless extended by Buyer at its sole discretion, which shall be exercised reasonably.
Additional Seller Events of Default. An “Event of Default” shall also mean with respect to Seller the occurrence of any of the following: if Seller fails to satisfy any and all of the conditions set forth in Section 4.1.1 through Section 4.1.5 by the twentieth (20th) Business Day after the Guaranteed Energized Date or any approved extension thereof; or, if Seller fails to satisfy Section 4.1.6 by the Date of Initial REC Delivery; or, if Seller fails to Deliver any RECs from the System to Buyer within 90 calendar days of the System’s Energized Date or any approved extension thereof, if the System Energized Date occurred prior to the Effective Date of this Agreement, then within 90 calendar days of the Effective Date of this Agreement or any approved extension thereof. if Seller fails to Deliver any RECs from the System for a consecutive period of six (6) months during the Delivery Term, unless extended by Buyer at its sole discretion.
Additional Seller Events of Default. An “Event of Default” shall also mean with respect to Seller the occurrence of any of the following: if Seller, on behalf of the Facility, receives, or has received, a grant or rebate from CEFIA or its predecessor CCEF, or any successor agency or fund (subject to the clarifications set forth in Section 4.1.8); or, if Seller fails to satisfy any and all of the conditions set forth in Article 4 within twelve (12) months of the Delivery Term Start Date; or, if Seller fails to deliver any LRECs or ZRECs from the Facility to Buyer for twenty-four (24) consecutive months.
Additional Seller Events of Default. Any of the following events shall constitute an Event of Default of Seller:
(a) the failure by Seller to deliver to Buyer in accordance with this Agreement any Products required to be delivered hereunder or the delivery or sale of any such Products to any Person other than Buyer if not expressly permitted under this Agreement;
(b) PJM or any other RTO shall have declared such Party to be in default of any provision of such RTO’s agreements or procedures if such default is not remedied within thirty (30) days after the declaration is made;
(c) the failure by Seller to provide a Letter of Credit or Guaranty as required by Article 16 [Security];
(d) the failure by Seller to comply with Section 6.7 [PJM Membership] or 6.8 [Market-Based Rate Authority] if such failure is not remedied as soon as practicable after Seller becomes aware of such failure;
(e) except as permitted by Section 17.10 [Assignment], the transfer by Seller of all or substantially all of its assets to another Person without the prior written consent of Buyer; and
(f) the failure by Seller to satisfy the requirements of Section 6.13 [Mechanical Availability Percentage].
Additional Seller Events of Default. Any of the following events shall constitute a Seller Event of Default.
(a) The failure by Seller to deliver to Buyer in accordance with the Agreement any Products required to be delivered hereunder or the delivery or sale of any such Products to any Person other than Buyer if not expressly permitted under the Agreement;
(b) PJM or any other RTO shall have declared such Party to be in default of any provision of such RTO's agreements or procedures;
(c) the failure by Seller to provide a Letter of Credit or Guaranty as required by Article 16 [Security Requirements];
(d) the failure by Seller to comply with Article 3.1 [Conditions Precedent], Article 8.4 [PJM Membership] or 8.5 [Market-Based Rate Authority]; and
(e) the transfer by Seller of all or substantially all of its assets to another Person without the prior written consent of Buyer.