Critical Events Clause Samples

The 'Critical Events' clause defines specific incidents or occurrences that are deemed significant within the context of the agreement, often triggering particular rights, obligations, or procedures for the parties involved. These events might include things like a party's insolvency, a material breach, or the occurrence of force majeure, and the clause will typically outline the steps to be taken if such an event arises. Its core practical function is to ensure that both parties are prepared for and understand the consequences of major disruptions, thereby allocating risk and providing a clear roadmap for handling unforeseen or impactful situations.
Critical Events. The Contractor's failure to timely schedule a Filled Appointment for three Critical Events during a three consecutive month period shall give DSHS the right to terminate this Contract.
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Critical Events. Critical Events [This list is subject to change based on the Critical Events and Deliverables in the Response and negotiations] Description [This list is subject to change based on the Critical Events and Deliverables in the Response and negotiations] Critical Events [This list is subject to change based on the Critical Events and Deliverables in the Response and negotiations] Description [This list is subject to change based on the Critical Events and Deliverables in the Response and negotiations]
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Critical Events. Critical Event Acceptance Date Critical Event Acceptance Date A. The Software as described in Proposal Sections , including, but not limited to, all Interfaces listed in RFP and all necessary Interfaces between Contractor supplied Software and Third Party Software (such as ) B. Contractor’s Software, called [Product(s) name] C. [Insert additional information following contract negotiations.]
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Critical Events. Critical Event Acceptance Date I. Equipment: The Equipment shall be as described in Proposal Section(s) [X] and as otherwise agreed upon in writing between the parties during the term.
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Critical Events. Critical Event", wherever used herein, means any one of the following events: (
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Related to Critical Events

  • Material Events any other event occurs or circumstance arises which, in the opinion of the Agent (following consultation with the Banks), is likely materially and adversely to affect either (i) the ability of any Security Party to perform all or any of its obligations under or otherwise to comply with the terms of any of the Security Documents or (ii) the security created by any of the Security Documents; or

  • Special Events For the purposes of this Agreement, “special events” are defined as:

  • Reporting of Non-Force Majeure Events Each Party (the “Notifying Party”) shall notify the other Parties when the Notifying Party becomes aware of its inability to comply with the provisions of this Agreement for a reason other than a Force Majeure event. The Parties agree to cooperate with each other and provide necessary information regarding such inability to comply, including the date, duration, reason for the inability to comply, and corrective actions taken or planned to be taken with respect to such inability to comply. Notwithstanding the foregoing, notification, cooperation or information provided under this Article shall not entitle the Party receiving such notification to allege a cause for anticipatory breach of this Agreement.

  • Notice of Material Events The Borrower will notify the Administrative Agent, for distribution to the LC Issuer and each Lender, promptly, and not later than five (5) Business Days in the case of subsection (b) below and not later than ten (10) Business Days in the case of any other subsection below, after any Responsible Officer or general counsel of the Borrower has knowledge thereof, stating that such notice is being given pursuant to this Agreement, of: (a) the occurrence of any event or circumstance that has had, or could reasonably be expected to have, a Material Adverse Effect, (b) the occurrence of any Default, (c) the acceleration of the maturity of any Indebtedness owed by the Borrower or any of its Subsidiaries or of any default by the Borrower or any of its Subsidiaries under any Contractual Obligation of the Borrower or such Subsidiary, if such acceleration or default has had or could reasonably be expected to have a Material Adverse Effect, (d) the occurrence of any Termination Event, (e) the filing of any suit or proceeding, or the assertion in writing of a claim against the Borrower or any Material Subsidiary or with respect to the Borrower’s or any Material Subsidiary’s properties which could reasonably be expected to result in liability to Borrower or such Material Subsidiary in excess of $50,000,000; (f) the occurrence of any event of default by the Borrower or any of its Subsidiaries in the payment or performance of (i) any material obligations such Person is required to pay or perform under the terms of any indenture, mortgage, deed of trust, security agreement, lease, and franchise, or other agreement, contract or other instrument or obligation to which it is a party or by which it or any of its properties is bound, or (ii) any Indebtedness, to the extent, in the case of clauses (i) and (ii), such event of default could reasonably be expected to have a Material Adverse Effect; and (g) any announcement of any change in a Rating. Each notice pursuant to this Section shall be accompanied by a statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to herein and stating what action the Borrower, Subsidiary or Material Subsidiary, as applicable, has taken and proposes to take with respect thereto. Each notice pursuant to Section 6.03(b) shall describe with particularity any all provisions of this Agreement and if, applicable, other Loan Documents, that have been breached.

  • Indirect Political Event An Indirect Political Event shall mean one or more of the following acts or events: (a) an act of war (whether declared or undeclared), invasion, armed conflict or act of foreign enemy, blockade, embargo, riot, insurrection, terrorist or military action, civil commotion or politically motivated sabotage; (b) industry-wide or State-wide strikes or industrial action for a continuous period of 24 (twenty four) hours and exceeding an aggregate period of 7 (seven) days in an Accounting Year; (c) any civil commotion, boycott or political agitation which prevents collection of Fee by the Concessionaire for an aggregate period exceeding 7 (seven) days in an Accounting Year; (d) any failure or delay of a Contractor to the extent caused by any Indirect Political Event and which does not result in any offsetting compensation being payable to the Concessionaire by or on behalf of such Contractor; (e) any Indirect Political Event that causes a Non-Political Event; or (f) any event or circumstances of a nature analogous to any of the foregoing.