Events of Default by the Authority Sample Clauses
Events of Default by the Authority. Each of the following constitutes an Event of Default on the part of the Authority:
(a) The Authority fails to pay any amount it is required to pay under this Agreement within thirty (30) days after receipt by the Authority of written demand from the Company accompanied by written notice stating that unless the delinquent amount is paid within thirty (30) days the failure will constitute an Event of Default;
(b) The persistent or repeated failure or refusal by the Authority substantially to fulfill any of its material obligations under this Agreement. No failure or refusal on the part of the Authority described in this clause (b) constitutes an Event of Default unless and until:
(i) the Company has given prior written notice to Authority stating that in its opinion a particular default or defaults (described in reasonable detail in such notice) exists and unless corrected, constitute a material breach of this Agreement on the part of the Authority; and
(ii) the Authority has neither corrected such default nor initiated steps to correct it within a reasonable period of time (which in any event must be not less than five (5) days from the date of the notice given pursuant to clause (i) of this Section 10.3(b), provided that if the Authority has commenced to take reasonable steps to correct such default within such reasonable period of time, the default shall not constitute an Event of Default for as long as the Authority is continuing to take reasonable steps to correct it.
Events of Default by the Authority. “Default” or an “Event of Default” by the Authority under this Agreement shall mean, subject to the grace period described in Section 11.4, the Authority fails to observe or perform any material and substantial covenant, obligation or agreement required of it under this Agreement.
Events of Default by the Authority. The events described below shall be deemed “Authority Events of Default”:
i. The Authority fails to keep, perform, or observe any term, covenant, or condition herein contained, to be kept, performed, or observed by the Authority and such failure continues for thirty (30) days after receipt of written notice of such failure from Rail Company; or, if by its nature such default cannot be cured within such thirty (30) day period, the Authority shall not commence to cure such default within said thirty (30) days and thereafter to cure or remove the same as promptly as reasonably practicable.
ii. The Airport is permanently closed as an multimodal transportation facility by act of any federal, state, or local government agency having competent jurisdiction; or Rail Company is unable to use Airport for a period of at least forty-five (45) consecutive days due to any law or any order, rule or regulation of any governmental authority having jurisdiction over the operations of the Airport; or any court of competent jurisdiction issues an injunction preventing the Authority or Rail Company from using Airport for airport purposes, for reasons other than those circumstances within Rail Company’s control or resulting from Rail Company’s actions, and such injunction remains in force for a period of at least forty-five (45) consecutive days.
iii. The United States Government or any authorized agency thereof (by executive order or otherwise) assumes the operation, control, or use of the Airport in such a manner as to substantially restrict Rail Company from conducting its operations, if such restriction continues for a period of sixty (60) consecutive days or more.
Events of Default by the Authority. Default or an Event of Default by the Authority under the Agreement shall mean one or more of the following events:
(a) the Authority fails to observe or perform any material and substantial covenant, obligation or agreement required of it under the Agreement; and if such Event or Events of Default are not cured within the time provided in section 14.3 then the Redeveloper may exercise any remedy available under section 14.4 of the Agreement.
Events of Default by the Authority. The failure or refusal by the Authority to fulfill any of its material obligations to the County in accordance with this Agreement shall constitute an Event of Default on the part of the Authority, unless such failure or refusal is excused or justified pursuant to this Agreement, or unless the failure to fulfill material obligations is caused by the failure of the County to perform its obligations. No failure or refusal on the part of the Authority shall constitute an “Event of Default” unless and until: (A) the County has given Notice to the Authority specifying with particularity the existence of such default; and (B) The Authority has failed to cure such default within thirty (30) days after receipt of such Notice.
Events of Default by the Authority. Each of the following constitutes an "Event of Default" by the Authority under this Agreement:
Events of Default by the Authority. The following shall be "events of default" by the Authority under this Lease, and the term "events of default" or "default" shall mean, wherever they are used in this Lease, any one or more of the following events:
Events of Default by the Authority