Department Default Clause Samples

Department Default. The occurrence of any one or more of the following events or conditions shall constitute a Department Default: (a) the Department fails to make any payment due to the Development Entity under this PPA when due; provided, that such payment is not subject to a good faith Dispute; (b) any representation or warranty made by the Department under Section 21.2 (Department Representations and Warranties) is false or materially misleading or inaccurate when made in each case in any material respect or omits material information when made; (c) the Department or any other Governmental Entity confiscates, sequesters, condemns or appropriates any of the Project Facilities, or the Development Entity’s Interest or any material part thereof, excluding the exercise of any right set out in this PPA; (d) the Department has ceased to perform substantially all of its obligations under this PPA, which substantially frustrates or renders it substantially impossible for the Development Entity to perform its obligations under this PPA for a continuous period of two (2) months; or (e) any failure by the Department to comply with Article 29 (Assignment and Transfer; Fundamental Changes).
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Department Default. Because of the limited nature of this Agreement, an Event of Default by the Department shall mean the failure to accept, and reimburse Contractors for, Phase Deliverables in accordance with this Agreement.
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Department Default. The occurrence of any one or more of the following events or conditions shall constitute a Department Default: (a) the Department fails to make any payment due to the Development Entity under this PPA when due; provided, that such payment is not subject to a good faith Dispute; (b) any representation or warranty made by the Department under Section 21.2 (Department Representations and Warranties) is false or materially misleading or inaccurate when made in each case in any material respect or omits material information when made;
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Department Default. Department shall be in default under this Agreement upon the occurrence of any of the following events: a. Department fails to perform, observe or discharge any of its covenants, agreements, or obligations set forth herein; or b. Any representation, warranty or statement made by Department herein or in any documents or reports made by Department in connection herewith that are reasonably relied upon by LPHA to measure performance by Department is untrue in any material respect when made.
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Department Default. Department shall be in default under this Agreement upon the occurrence of any of the following events: a. Department fails to perform, observe, or discharge any of its covenants, agreements, or obligations set forth herein and does not correct such failure within 90 days of written notice thereof, in accordance with a corrective action plan submitted to DA within 30 days after the written notice; or b. Any representation, warranty, or statement made by Department herein is untrue in any material respect when made and Department does not correct such inaccuracy, and address any consequences thereof within 90 days of written notice thereof, in accordance with a corrective action plan submitted to DA within 30 days after the written notice.
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Department Default. The Department shall be in breach of this Agreement upon the occurrence of any one or more of the following events or conditions (each a “Department Default”): 18.3.1.1 The Department fails to make any payment due Developer under this Agreement when due and to provide with such payment any Milestone Payment Certificate or Quarterly Payment Certificate, as applicable, required in connection with the payment in accordance with Section 11.5.7 or 11.5.8, as applicable, provided that such payment is not subject to a Dispute. If Developer receives any payment from the Department for which the Milestone Payment Certificate or a Quarterly Availability Payment Certificate is required but not provided, Developer shall have the right to (a) decline the entire payment and thereupon declare a Department Default under this Section 18.3.1.1 or (b) retain the entire payment, in which case no Department Default shall exist under this Section 18.3.1.1 unless the Department does not cure the failure to deliver the applicable certificate within 30 days after the payment due date, whereupon Developer shall return the payment to the Department and may declare a Department Default under this Section 18.3. 1.1. If Developer does not choose the option under clause (a) above within ten days after receiving the payment, then such option shall expire and Developer shall be deemed to have chosen the option under clause (b) above. For the avoidance of doubt, ▇▇▇▇▇▇▇▇▇ shall have no right to decline a payment or declare a Department Default under this Section 18.3.1.1 solely due to a failure of the Department to deliver an Annual Availability Payment Certificate; 18.3.1.2 Subject to Section 17.4, any representation or warranty made by the Department under Section 17.2 of this Agreement is false, misleading or inaccurate in any material respect when made or omits material information when made; 18.3.1.3 The Department or any other Governmental Entity confiscates, sequesters, condemns or appropriates the Project or any material part thereof, or Developer’s Interest or any material part thereof, excluding a Termination for Convenience or any other exercise of a right of termination set forth in this Agreement; 18.3.1.4 The Department fails to prioritize any payments under this Agreement in accordance with Section 11.5; or 18.3.1.5 The Department fails to deliver when due an Annual Availability Payment Certificate in accordance with Section 11.5.9 and the Department does not cure such failu...
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Department Default. The Department shall be in breach of this Agreement upon the occurrence of any one or more of the following events or conditions (each a “Department Default”): 18.3.1.1 The Department fails to make any payment due Developer under this Agreement when due; provided that such payment is not subject to a Dispute; 18.3.1.2 Any representation or warranty made by the Department under Section 17.2 of this Agreement is false or materially misleading or inaccurate when made in any material respect or omits material information when made; or 18.3.1.3 The Department or any other Governmental Entity confiscates, sequesters, condemns or appropriates the Project or any material part thereof, or Developer’s Interest or any material part thereof, excluding a Termination for Convenience or any other exercise of a right of termination set forth in this Agreement.
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Department Default. The occurrence of any one or more of the following events during the Term will constitute a “Department Default” pursuant to this Agreement: (a) any representation or warranty made by the Department in this Agreement or in any other Project Agreement to which the Department and the Concessionaire are parties is false or misleading in any respect on the date made and a material adverse effect upon the Project or the Concessionaire’s rights or obligations under such Project Agreements results therefrom, and such circumstance continues without cure for a period of 90 Days following the date the Concessionaire delivers to the Department written notice thereof, with cure regarded as complete only when the adverse effects are remedied; ▇▇▇ ▇▇▇▇▇▇ #▇▇▇▇▇▇▇▇ ▇▇▇ (▇) the Department fails to comply with, perform or observe any material obligation, covenant, agreement, term or condition in this Agreement or any other Project Agreement to which it is a party, which failure materially adversely affects the Concessionaire’s Interest, and such failure continues without cure for a period of 90 Days following the date the Concessionaire delivers to the Department written notice thereof (giving particulars of the failure in reasonable detail) or for such longer period as may be reasonably necessary to cure such failure up to a maximum cure period of 180 Days; provided, that in the latter case, (i) the Department is proceeding with all due diligence to cure or cause to be cured such failure, (ii) the failure is capable of being cured within a reasonable period of time and (iii) such failure is in fact cured within such period of time; or (c) subject to Section 25.19, the Department fails to pay to the Concessionaire when due any undisputed amount in excess of $100,000, adjusted annually by the percentage increase in CPI, payable to the Concessionaire pursuant to this Agreement, and such failure continues without cure for a period of 90 Days following the date on which the Concessionaire delivers to the Department written notice thereof.
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Department Default. 155 Section 19.05 Concessionaire Remedies upon Department Default ....................................156 Section 19.06 395 Concessionaire Breach ............................................................................156 Section 19.07 Limitations on 395 Concessionaire Breach ...................................................158 Section 19.08 Department Remedies upon 395 Concessionaire Breach ..............................158
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Related to Department Default

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • Payment Defaults Tenant shall fail to pay any installment of Rent or any other payment hereunder when due; provided, however, that Landlord will give Tenant notice and an opportunity to cure any failure to pay Rent within 3 days of any such notice not more than once in any 12 month period and Tenant agrees that such notice shall be in lieu of and not in addition to, or shall be deemed to be, any notice required by law.

  • Other Payment Default The Borrower shall default in the payment when and as due (whether at maturity, by reason of acceleration or otherwise) of interest on any Loan or Reimbursement Obligation or the payment of any other Obligation, and such default shall continue for a period of three (3) Business Days.

  • No Payment Default Except for payment delinquencies that have been continuing for a period of not more than 29 days, no payment default under the terms of any Receivable exists as of the Cutoff Date.

  • Covenant Default (a) Borrower fails or neglects to perform any obligation in Sections 6.2, 6.5, 6.7, 6.8, 6.9, 6.10(b), 6.12, 6.13 or violates any covenant in Section 7; or (b) Borrower fails or neglects to perform, keep, or observe any other term, provision, condition, covenant or agreement contained in this Agreement or any Loan Documents, and as to any default (other than those specified in this Section 8) under such other term, provision, condition, covenant or agreement that can be cured, has failed to cure the default within ten (10) days after the occurrence thereof; provided, however, that if the default cannot by its nature be cured within the ten (10) day period or cannot after diligent attempts by Borrower be cured within such ten (10) day period, and such default is likely to be cured within a reasonable time, then Borrower shall have an additional period (which shall not in any case exceed thirty (30) days) to attempt to cure such default, and within such reasonable time period the failure to cure the default shall not be deemed an Event of Default (but no Credit Extensions shall be made during such cure period). Cure periods provided under this section shall not apply, among other things, to financial covenants or any other covenants set forth in clause (a) above;