Common use of EVENTS OF DEFAULT BY THE COMPANY Clause in Contracts

EVENTS OF DEFAULT BY THE COMPANY. The following shall constitute Events of Default under this Agreement: (a) if default shall be made in the due and punctual payment of any MCP Payments due under the Greenville/▇▇▇▇▇▇▇▇ Multi-County Park Agreement, which default shall continue for a period of thirty (30) days following receipt by the Company of written notice of such default from the County; (b) if default shall be made by the Company in the due performance of or compliance with any of the terms hereof, other than those referred to in the foregoing paragraph (a), and such default shall continue for ninety (90) days after the County shall have given the Company written notice of such default; provided, the County may, in its discretion, grant the Company a longer period of time as necessary to cure such default if the Company proceeds with due diligence to cure such default; provided however, that no Event of Default shall exist under this agreement during any period when there is pending, before any judicial or administrative tribunal having jurisdiction, any proceeding in which the Company has contested the occurrence of such default. The failure of the Company to reach the Company Commitments shall not constitute an event of default by the Company, but shall give the County the right to adjust or terminate prospectively the Special Source Credits pursuant to Section 3.04 hereof .

EVENTS OF DEFAULT BY THE COMPANY. The (a) Any one or more of the following events (herein called an “Event of Default” or collectively, “Events of Default”) shall constitute Events an Event of Default under this Agreement:(but solely with respect to the defaulting entity): (a1) if default shall be made by the Company in the due and punctual payment of any MCP Payments FILOT Payments; (2) if default shall be made by the Company in the due under the Greenville/▇▇▇▇▇▇▇▇ Multi-County Park Agreementand punctual payment of any indemnification payments or Administration Expenses, which default shall continue for a period of not have been cured within thirty (30) days following receipt by the Company of written notice of such default thereof from the CountyCounties; (b3) if default shall be made by the Company in the due performance of or compliance with any of the terms hereof, including payment, other than those referred to in the foregoing paragraph paragraphs (a1) and (2), and such default shall continue for ninety sixty (9060) days after the County shall have given the Company written notice of such default; , provided, the County may, in its discretion, grant the Company a shall have such longer period of time as necessary to cure such default if the Company proceeds with due diligence promptly to cure such defaultdefault and thereafter to prosecute the curing of such default with due diligence; and provided howeverfurther, that no Event of Default shall exist under this agreement paragraph (3) during any period when there is pending, before any judicial or administrative tribunal having jurisdiction, any proceeding in which the Company has contested the occurrence of such default. The . (b) Notwithstanding anything herein to the contrary, failure of the Company to reach the Company Commitments meet any investment requirements, thresholds, or levels set forth in this Agreement shall not constitute be deemed to be an event Event of default by the Company, but shall give the County the right to adjust or terminate prospectively the Special Source Credits pursuant to Section 3.04 hereof Default under this Agreement.