Defaults Defined Clause Samples
Defaults Defined. The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following events:
(a) Failure by the Company to pay any amount required to be paid under Section 4.02(a) or (d) hereof.
(b) Failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section 8.01(a) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected.
(c) The dissolution or liquidation of the Company, except as authorized by Section 2.02 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due.
(d) The occurrence and continuance of a Default under the Indenture.
Defaults Defined. The following shall be "Defaults" under this Agreement and the term "Default" shall mean, whenever it is used in this Agreement, any one or more of the following events:
Defaults Defined. IX-1 Section 9.2. Trustee's Remedies on Default.................. IX-3 Section 9.3. Issuer's Remedies on Default................... IX-4 Section 9.4. Specific Performance........................... IX-5 Section 9.5. No Remedy Exclusive............................ IX-5 Section 9.6. Agreement to Pay Attorneys' Fees and Expenses...................................... IX-6 Section 9.7. No Additional Waiver Implied by One Waiver........................................ IX-6 ARTICLE X OPTIONS TO TERMINATE AGREEMENT.............................. X-1 ARTICLE XI MISCELLANEOUS
Defaults Defined. The following shall be "Defaults" under this agreement and the term "Default" shall mean, whenever it is used in this Agreement, any one or more of the following events:
Defaults Defined. 24 Section 8.2. Remedies on Default..........................................25 Section 8.3. No Remedy Exclusive..........................................25 Section 8.4. Agreement to Pay Attorneys' Fees and Expenses................26 Section 8.5. No Additional Waiver Implied by One Waiver...................26 ARTICLE IX
Defaults Defined. 47 Sec. 7.02. Declaration of maturity of principal on default............................48 Waiver of declaration of maturity........
Defaults Defined. 19 SECTION 8.2
Defaults Defined. XI-1 Section 11.2. Issuer's Remedies on Default . . . . . XI-2 Section 11.3. [Intentionally Omitted] . . . . . . . . XI-3 Section 11.4. Specific Performance . . . . . . . . . XI-3 Section 11.5. No Remedy Exclusive . . . . . . . . . . XI-4 Section 11.6. Agreement to Pay Attorneys' Fees and Expenses . . . . . . . .. . . . . . . . XI-4 Section 11.7. No Additional Waiver Implied by One Waiver . . . . . . . . . . . . . . . . XI-4 ARTICLE XII OPTIONS TO PREPAY RENT AND TERMINATE OBLIGATIONS HEREUNDER . . . . .XII-1
Defaults Defined. IX-1 Section 9.2. Trustee's Remedies on Default . . . . . .
Defaults Defined. Each of the following constitutes default (a “Default”) by the Contractor under this Agreement:
(a) Any material misrepresentation, whether negligent or willful and whether in the inducement or in the performance, made by the Contractor to the City;
(b) The Contractor admits in writing its inability or unwillingness to pay its debts as they become due;
(c) The breach of any material representation or warranty made by the Contractor herein;
(d) The Contractor’s failure to perform any of its obligations under this Agreement including, without limitation, the following:
(i) A material failure to perform the Work in accordance with the requirements of this Agreement;
(ii) Failure to pay the City amounts due in accordance with the terms of this Agreement;
(iii) Failure to correct Work that is materially defective within the earliest reasonable practical opportunity pursuant to Section 3.8;
(iv) Discontinuance of the Work for more than (fifteen) 15 consecutive days for reasons within the Contractor’s reasonable control;
(v) Failure of the Contractor or the Work to comply with a material term of this Agreement, including, but not limited to, the provisions concerning insurance, nondiscrimination and minority and women’s business enterprises commitment;
(vi) Failure to materially comply with the Installation Schedule, maintenance standards and schedule of availability set forth in Exhibits 1C, 1D and 7, respectively, subject to the City's obligation to cooperate in good faith and in a timely manner in identifying replacement sites pursuant to Section 4.3, to the Excusable Event provisions, and to any other provisions of this Agreement expressly providing for an extension of time for performance;
(vii) Any change in majority ownership or control of the Contractor (a “Change of Control of Contractor”), without the prior written consent of the CFO, which consent shall be in the CFO’s sole discretion. Notwithstanding the foregoing,
(A) an acquisition, merger or consolidation of the Contractor’s business operations by or into an Approved Transferee, (B) an initial public offering of the securities of the Contractor, (C) the admission of a minority member, stockholder, partner or owner, who does not acquire (and who, in aggregate with any other persons or parties acquiring minority interests, does not acquire), a majority or controlling interest in the Contractor, or (d) a transfer of ownership interests by either member of the Contractor to an entity or personal trust ...