Default by the Authority Clause Samples
Default by the Authority. If the Authority materially breaches or defaults on its obligations under this Agreement or any of the documents incorporated herein or in the reasonable judgment of Louisville there has been a substantial decrease in the Authority's capacity to undertake the obligations required by this Agreement, Louisville may give written notice (with a copy of said notice being given to the Office) that remedial action must be taken within thirty (30) calendar days. The Authority shall correct such breach or default within thirty (30) days after receipt of such notice. However, if the default is not reasonably curable within thirty (30) days, then the Authority may continue to cure the default or breach so long as Louisville is reasonably satisfied that sufficient progress is being made toward a cure. If such corrective action is not taken, Louisville may terminate the Agreement by giving written notice to the Authority at least ten (10) days prior to the effective date of termination and shall and be entitled to any remedy and damages available to it at law or in equity, including specific performance.
Default by the Authority. In the event of any default by the Authority under any covenant, agreement, or obligation of this Loan Agreement, the Governmental Agency's remedy for such default shall be limited to injunction, special action, action for specific performance, or any other available equitable remedy, designed to enforce the performance or observance of any duty, covenant, obligation, or agreement of the Authority hereunder, as may be necessary or appropriate. The Authority shall on demand pay to the Governmental Agency the reasonable fees and expenses of attorneys, and other reasonable expenses, in the enforcement of such performance or observation.
Default by the Authority. In the event of any default by the Authority under any covenant, agreement or obligation of this Contract, the Customer’s remedy for such default shall be limited to injunction, special action, action for specific performance or any other available equitable remedy designed to enforce any covenant, obligation or agreement of the Authority hereunder as may be necessary or appropriate.
Default by the Authority. 20.2.1. Subject to Article 18, the Authority shall be deemed to be in breach of this Agreement (“Authority Default”) in the event of any of the following:
a) failure to make payments to the Concessionaire as per the terms of this Agreement;
b) material default in complying with any of the provisions of this Agreement and such default has a Material Adverse Effect on the Concessionaire;
c) any representation made or warranties given by the Authority under this Agreement is found to be false or misleading and such default has a Material Adverse Effect on the Concessionaire;
d) the Authority repudiates this Agreement or otherwise takes any action that amounts to or manifests an irrevocable intention not to be bound by this Agreement;
e) Other such default event as specified in the Agreement and such default has a Material Adverse Effect on the Concessionaire.
Default by the Authority. In the event of any default by the Authority in any duty, covenant, agreement or obligation described in this Agreement, the Local Borrower’s remedy for such default shall be limited to injunction, special action, action for specific performance or any other available equitable remedy designed to enforce the performance or observance of any duty, covenant, obligation or agreement of the Authority described herein as may be necessary or appropriate. The Authority shall on demand pay to the Local Borrower the reasonable fees and expenses of attorneys and other reasonable expenses in the enforcement of such performance or observance.
Default by the Authority. The Authority shall not be in default under this Agreement unless the Authority fails to perform an obligation required by the Authority under this Agreement and the Authority fails to cure same within thirty (30) days after receipt of written notice from Tenant of such obligation. If the nature of the Authority’s obligation hereunder is such that more than thirty (30) days are reasonably required for performance or cure, the Authority shall not be in default if the Authority commences performance or cure within such thirty (30) day period and thereafter diligently prosecutes the same to completion. In the event the Authority fails to cure such obligation within the aforesaid period, Tenant shall have the right to terminate this Agreement upon written notice to the Authority.
Default by the Authority. The following events are “Events of Default” by the Authority:
A. Failure of the Authority to pay principal and interest on any Obligations issued for the Project or obtained by the Authority pursuant to this Agreement when due;
B. If the Authority is for any reason rendered incapable of performing any of its material obligations under this Agreement;
C. The Authority makes an assignment of all or a substantial portion of its Obligations under this Agreement without the prior consent of all the Participating Members;
D. The Authority defaults on any of its material obligations under any agreement pursuant to which any Obligation issued for the Project is obtained by the Authority pursuant to this Agreement and such default is not cured within any applicable cure period;
E. Any proceeding is instituted, with the consent or acquiescence of the Authority, for the purpose of effecting a composition between the Authority and its creditors or for the purpose of adjusting the claims of such creditors pursuant to any state or federal statute now or hereafter in effect, if the claims of such creditors are under any circumstances payable from the funds of the Authority; or
F. The Authority defaults in the due and punctual performance of any other of the covenants, conditions, agreements, and provisions contained in this Agreement.
Default by the Authority. Default by the Authority under the Agreement shall mean one or more of the following events: The Authority fails to observe or perform any covenant or obligation required of it under this Agreement or any representation or warranty made by Authority under this Agreement is materially false when made. If any Default is not cured within the time provided in Section 10.3, then the Developer may exercise any remedy available under Section 10.4 and 10.5.
Default by the Authority. If the Authority fails to perform any of its obligations under this Agreement, and fails to cure such default after ninety (90) days’ written notice of such default, then in such case Developer may (i) declare the termination of this Agreement and re-enter and take possession of the Easement Premises or (ii) pursue all available remedies at law and in equity. In such case, or at such time as this Agreement is terminated pursuant hereto, the Authority agrees to execute and deliver to Developer a written termination of this Agreement in recordable form, which termination agreement will be filed in the official records of Hennepin County, Minnesota.
Default by the Authority. In the event of any default by the Authority under any covenant, agreement or obligation of this Contract, the Customer’s remedy for such default shall be limited to injunction, special action, action for specific performance or any other available equitable remedy designed to Author Final Draft Power Sales Contract – June 29, 2016 enforce any covenant, obligation or agreement of the Authority hereunder as may be necessary or appropriate.