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

EVENTS OF DEFAULT BY THE COMPANY. Each of the following events or conditions shall constitute an "Event of Default" by the COMPANY for purposes of this Agreement with respect to obligations of the COMPANY: (i) The COMPANY’s failure to furnish and install the ECMs in accordance with the provisions of this Agreement and within the time specified by this Agreement. (ii) Failure by the COMPANY to pay any amount owing to the INSTITUTION due to the COMPANY’s failure to achieve its Energy Savings Guaranty during any Guaranty Year throughout the term of this Agreement or to perform any obligation under the Energy Savings Guaranty. (iii) The standards of comfort and service set forth in Schedule I are not provided due to failure of the COMPANY to properly design, install, maintain, repair or adjust the ECMs except that such failure if corrected or cured within thirty (30) days after written notice to the COMPANY demanding that such failure be cured shall be deemed cured for purposes of this Agreement. (iv) Failure to perform its obligations in accordance with the terms of this Agreement, including failure to provide sufficient personnel, equipment or material to ensure the performance required and failure to meet the Project Installation Schedule provided for in Schedule K, due to a reason or circumstance within the COMPANY’s reasonable control. (v) The COMPANY’s failure to promptly re-perform within a reasonable time Work or services that were rejected as defective or nonconforming. (vi) The COMPANY’s discontinuance of the required performance for reasons not beyond the COMPANY’s reasonable control. (vii) Any lien or encumbrance upon the ECMs by any subcontractor, laborer, materialman or other creditor of the COMPANY. (viii) Any change in ownership or control of the COMPANY without the prior approval of the INSTITUTION, which shall not be unreasonably withheld. (ix) Default under any other agreement the COMPANY may presently have or may enter into with the INSTITUTION during the term of this Agreement. The COMPANY acknowledges and agrees that in the event of a default under this Agreement the INSTITUTION may also declare a default under any such other agreements. (x) Any material misrepresentation, whether negligent or willful and whether in the inducement or in the performance, made by the COMPANY to the INSTITUTION, the INSTITUTION or a third party. (xi) The filing of a bankruptcy petition whether by the COMPANY or its creditors against the COMPANY which proceeding shall not have been dismissed within sixty (60) days of its filing, or an involuntary assignment for the benefit of creditors or the liquidation or insolvency of the COMPANY. (xii) Any failure by the COMPANY to perform or comply with the terms and conditions of this Agreement, including breach of any covenant contained herein except that such failure, if corrected or cured within thirty (30) days after notice to the COMPANY demanding that such failure to perform be cured, shall be deemed cured for purpose of this Agreement.

EVENTS OF DEFAULT BY THE COMPANY. Each of the following events or conditions shall constitute an "Event of Default" by the COMPANY for purposes of this Agreement with respect to obligations of the COMPANY: (i) The COMPANY’s failure to furnish and install the ECMs in accordance with the provisions of this Agreement and within the time specified by this Agreement.; (ii) Failure by the COMPANY to pay any amount owing to the INSTITUTION CUSTOMER due to the COMPANY’s failure to achieve its Energy Savings Guaranty during any Guaranty Year throughout the term of this Agreement or to perform any obligation under the Energy Savings Guaranty.; (iii) The standards of comfort and service set forth in Schedule I are not provided due to failure of the COMPANY to properly design, install, maintain, repair or adjust the ECMs except that such failure if corrected or cured within thirty (30) days after written notice to the COMPANY demanding that such failure be cured shall be deemed cured for purposes of this Agreement.; (iv) Failure to perform its obligations in accordance with the terms of this Agreement, including failure to provide sufficient personnel, equipment or material to ensure the performance required and failure to meet the Project Installation Schedule provided for in Schedule K, due to a reason or circumstance within the COMPANY’s reasonable control.; (v) The COMPANY’s failure to promptly re-perform within a reasonable time Work or services that were rejected as defective or nonconforming. (vi) The COMPANY’s discontinuance of the required performance for reasons not beyond the COMPANY’s reasonable control.the (vii) Any lien or encumbrance upon the ECMs by any subcontractor, laborer, materialman or other creditor of the COMPANY.; (viii) Any change in ownership or control of the COMPANY without the prior approval of the INSTITUTIONCUSTOMER, which shall not be unreasonably withheld.; Tab stops: 0.56", Left + ▇", ▇▇▇▇ + 1.69", Left + Not at 0.88" + 1.38" + 1.63" (ix) Default under any other agreement the COMPANY may presently have or may enter into with the INSTITUTION CUSTOMER during the term of this Agreement. The COMPANY acknowledges and agrees that in the event of a default under this Agreement the INSTITUTION CUSTOMER may also declare a default under any such other agreements.; (x) Any material misrepresentation, whether negligent or willful and whether in the inducement or in the performance, made by the COMPANY to the INSTITUTIONCUSTOMER, the INSTITUTION CUSTOMER or a third party.; (xi) The filing of a bankruptcy petition whether by the COMPANY or its creditors against the COMPANY which proceeding shall not have been dismissed within sixty (60) days of its filing, or an involuntary assignment for the benefit of creditors or the liquidation or insolvency of the COMPANY.; (xii) Any failure by the COMPANY to perform or comply with the terms and conditions of this Agreement, including breach of any covenant contained herein except that such failure, if corrected or cured within thirty (30) days after notice to the COMPANY demanding that such failure to perform be cured, shall be deemed cured for purpose of this Agreement.

EVENTS OF DEFAULT BY THE COMPANY. Each of the following events or conditions shall constitute an "Event of Default" by the COMPANY for purposes of this Agreement with respect to obligations of the COMPANY: (i) The COMPANY’s failure to furnish and install the ECMs in accordance with the provisions of this Agreement and within the time specified by this Agreement.; (ii) Failure by the COMPANY to pay any amount owing to the INSTITUTION CUSTOMER due to the COMPANY’s failure to achieve its Guaranteed Energy Savings Guaranty during any Guaranty Year throughout the term of this Agreement or to perform any obligation under the Energy Savings Guaranty.; (iii) The standards of comfort and service set forth in Schedule I (Operating Parameters for ECMs/Standards of Comfort & Service) are not provided due to failure of the COMPANY to properly design, install, maintain, repair repair, or adjust the ECMs except that such failure if corrected or cured within thirty (30) days after written notice to the COMPANY demanding that such failure be cured shall be deemed cured for purposes of this Agreement.; (iv) Failure to perform its obligations in accordance with the terms of this Agreement, including failure to provide sufficient personnel, equipment or material to ensure the performance required and failure to meet the Project Installation Schedule provided for in Schedule KK (Project Installation Schedule), due to a reason or circumstance within the COMPANY’s reasonable control.; (v) The COMPANY’s failure to promptly re-perform perform, within a reasonable time time, Work or services that were rejected as defective or nonconforming. (vi) The COMPANY’s discontinuance of the required performance for reasons not beyond the COMPANY’s reasonable control.; (vii) Any lien or encumbrance upon the ECMs by any subcontractor, laborer, materialman material supplier or other creditor of the COMPANY.; (viii) Any change in ownership or control of the COMPANY without the prior approval of the INSTITUTIONCUSTOMER, which shall not be unreasonably withheld.; (ix) Default under any other agreement the COMPANY may presently have or may enter into with the INSTITUTION CUSTOMER during the term of this Agreement. The COMPANY acknowledges and agrees that in the event of a default under this Agreement the INSTITUTION CUSTOMER may also declare a default under any such other agreements.; (x) Any material misrepresentation, whether negligent or willful and whether in the inducement or in the performance, made by the COMPANY to the INSTITUTION, the INSTITUTION or a third party.CUSTOMER; (xi) The filing of a bankruptcy petition whether by the COMPANY or its creditors against the COMPANY which proceeding shall not have been dismissed within sixty (60) days of its filing, or an involuntary assignment for the benefit of creditors or the liquidation or insolvency of the COMPANY.; (xii) Any failure by the COMPANY to perform or comply with the terms and conditions of this Agreement, including breach of any covenant contained herein except that such failure, if corrected or cured within thirty (30) days after notice to the COMPANY demanding that such failure to perform be cured, shall be deemed cured for purpose of this Agreement.