Customer Event of Default Clause Samples
A Customer Event of Default clause defines the specific circumstances under which a customer is considered to be in default under an agreement. Typically, this includes situations such as failure to make payments on time, breach of material obligations, insolvency, or providing false information. When triggered, this clause allows the service provider or counterparty to take remedial actions, such as suspending services, demanding immediate payment, or terminating the contract. Its core function is to clearly outline what constitutes default, thereby protecting the provider’s interests and ensuring both parties understand the consequences of non-compliance.
Customer Event of Default. Without prejudice to any other rights and remedies of PLL under this Agreement or at law, PLL may terminate this Agreement by serving a prior 7 Days written notice to the Customer upon the occurrence of any of the following events (“Customer Default”):
(a) the Customer:
(i) any assignment or transfer of rights and obligations under this Agreement in violation of the terms of this Agreement.
(ii) the occurrence of any of the following events: (i) the passing of a resolution by the shareholders of the Customer for winding up, (ii) the appointment of a provisional liquidator in case of bankruptcy adjudged by a court of competent jurisdiction, which appointment has not been set aside or stayed within ninety (90) days of such appointment, or (iii) the making of an order winding up the Customer by a court of competent jurisdiction; and
(iii) any statement, representation or warranty made by the Customer herein proving to have been incorrect, in any respect, when made or when deemed to have been made and the circumstances that cause such failure or incorrect statement, representation or warranty to be incorrect having a material adverse effect the Customer’s ability to perform its obligations under this Agreement.
(iv) any material breach by the Customer of this Agreement including due to failure to supply LNG or unreasonable delay in supply of LNG or persistent failure to off-take RLNG or delivery of off-spec LNG that leads to failure to supply LNG which is not remedied within thirty (30) days after notice from the PLL, which notice (i) states that a material breach of this Agreement has occurred and is continuing which could result in the termination of this Agreement, (ii) identifies the breach in question in reasonable detail, and (iii) demands remedy thereof. Material breaches by the Customer include but are not limited to:
(A) Failure to supply LNG as per Schedule 1 (Inventory Management);
(B) Delay in supplying LNG as per Schedule 1 (Inventory Management);
(C) Delivery of off-spec LNG that may be consider a failure to supply LNG by PLL;
(D) Persistent failure to off-take RLNG; and
(E) Failure to provide the written confirmation from SSGC and SNGPL as per Section 17.3.
(v) the revocation, withdrawal, or cancellation of regulatory approvals and/or licenses required by the Customer, under the laws of Pakistan, to fulfil its obligations under this Agreement.
(b) the Customer fails to comply with its obligations to maintain or replace the Security Deposit or fa...
Customer Event of Default. If the Generator exercises a valid termination of this Agreement, Generator may remove the System from the Premises. Customer shall reimburse Generator of actual cost of removal. In addition, upon such termination, Customer shall pay the Termination Fee as identified in Schedule C.
Customer Event of Default. In addition to any other events set out in this Agreement, the occurrence of any one or more of the following events shall constitute a default by Customer under this Agreement and shall be considered an event of default (a “Customer Event of Default”) if such default is not remedied prior to the expiry of the relevant notice period (if any) or the relevant cure period (if any) applicable to such default as hereinafter set out:
(i) if Customer fails to make any payment or payments of the Service Fees or any other sums owing under the Agreement, and where such default continues for thirty (30) days after written notice has been issued to Customer by Company stating the nature of the default;
(ii) if Customer fails to perform any covenant or obligation that Customer was required to perform under this Agreement and where such default is capable of being cured using reasonable diligence and shall continue unremedied: (i) for a period of thirty (30) days after written notice has been issued to Customer by Company stating the nature of the default; or (ii) such longer period as may be reasonably necessary to cure such failure, provided that Customer has demonstrated that: (1) it is proceeding with all due diligence to cure or cause to be cured such failure, (2) its proceedings can be reasonably expected to cure or cause to be cured such failure within a reasonable time frame acceptable to Company, acting reasonably, and
Customer Event of Default. Upon the occurrence of a Customer Event of Default, CMH may, without recourse to legal process and without limiting any other rights or remedies which it may have at law or otherwise, terminate this Agreement by delivery of a notice of termination to Customer. In the event that the Customer disputes whether a Customer Event of Default, other than an Insolvency Event, has occurred by the Customer, CMH shall continue to provide Electric Energy pursuant to this Agreement and the Customer shall continue to pay the Monthly Charges and all interest and other charges contemplated by this Agreement until the question is finally resolved by agreement or by the Dispute Resolution Procedure.
Customer Event of Default. Any one of the following constitutes a Customer event of default (Customer Event of Default) under this Agreement:
a) Failure to pay any undisputed amount due under this Agreement on or before the Payment Due Date if Customer does not cure the failure within five business days after Supplier provides written notice.
b) Failure to comply with any other material provision of this Agreement within 30 calendar days after Supplier provides written notice and demand to cure or a longer period not to exceed 90 calendar days in the aggregate if the default is not reasonably susceptible of cure within 30 calendar days so long as Customer diligently pursues cure of the default.
Customer Event of Default. Each of the following events or conditions shall constitute an “Event of Default” by Customer:
9.2.1 Customer’s refusal or failure to sign authorizations reasonably required by Developer to obtain any Incentive contemplated in Section 4.1 above (Identification and Application for Incentives);
9.2.2 Customer’s refusal or failure to sign or comply with any material term of the approved interconnection agreement required by the Local Utility for interconnection of the Solar Facility; and
9.2.3 Customer’s refusal or failure to sign or comply with any material term of any Applicable Law, including, without limitation, zoning, permitting or safety regulations.
Customer Event of Default. The following events shall constitute a Customer Event of Default:
(a) Customer shall fail or refuse to pay any ▇▇▇▇ for service rendered under this Power Purchase Agreement for Electricity on which payment is due in accordance with the terms of this Power Purchase Agreement, within forty-five (45) days of Service Provider’s written demand therefor.
(b) Customer shall fail to comply with any other provision of the Agreement or their Local Unit License Agreement (including any failure to comply that constitutes a Licensor Event of Default as defined in the Local Unit License Agreement) and such failure shall continue for a period of sixty (60) days after receipt of written notice of such failure provided, that if such failure cannot be cured within sixty (60) days, then within a reasonable time so long as Customer diligently seeks to cure such failure.