Events of Release Sample Clauses

Events of Release. This Deed will terminate on the earlier of: (a) immediately upon: (i) all Owner Guarantees being cancelled; or (ii) the Relevant Group Member being released from its obligations under the all Owner Guarantees; or (b) where the Related Corporations of the Indemnifier cease to hold the largest Participating Share * * *, on the later of: (i) 30 days after such Related Corporations have ceased to hold such Participating Share; or (ii) when the contemporaneous acquirer of its Participating Interest which has the largest Participating Share * * * has provided the required support for the Owner Guarantees in accordance with clause 4.2(j) of the Joint Venture Agreement in replacement of this Deed.
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Events of Release. Ericsson will be entitled to request release and delivery of the Material if one or more of the following circumstances (“Events of Release”) have occurred: 9.5.1. if Calix becomes the subject of any proceeding under any bankruptcy, receivership, insolvency or similar laws instituted by or against Calix, which proceedings are not dismissed as to Calix within 60 days of being instituted; or 9.5.2. if Calix is in material breach of the Maintenance and Support Appendix (Exhibit B) which is not cured within 60 days of Calix's receipt of notice of such material breach from Ericsson.
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Events of Release. Upon the occurrence of any of the following Events of Release, the Licensee shall give notice to the Escrow Agent of such Event: (i) The Licensor becomes insolvent, makes a general assignment for the benefit of creditors, files a voluntary petition in bankruptcy, suffers or permits the appointment of a receiver for its business or assets, becomes subject to any valid proceeding under any bankruptcy or insolvency law, or has wound up or liquidated its business voluntarily or otherwise and Licensee has compelling reasons to believe that such event will cause Licensor to fail to meet its warranty and maintenance obligations in the foreseeable future. Licensee shall give written notice of such Event to the Escrow Agent.
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Events of Release. Events of Release are as follows: (a) A material breach of this Agreement by Nortel, including, without limitation, a consistent and material failure or refusal, or an intentional refusal at any time when Avici is not in material breach of this Agreement, to provide Products as required pursuant to this Agreement for any reasons within control of Nortel, where such failure or refusal has been the subject of a notice in writing to Nortel that its continued failure or refusal would cause Avici to invoke its rights under this Section 16 forty-five (45) Days after the receipt by Nortel of such notice; (b) An intentional refusal to accept a conforming Purchase Order from Avici, where such refusal has been the subject of a notice in writing to Nortel that its continued refusal would cause Avici to invoke its rights under this Section 16 forty-five (45) Days after the recipient by Nortel of such notice of breach under Section 15.2(i)(a), or thirty (30) Days after the receipt by Nortel of such notice of breach under Section 15.2(i)(b); (c) Nortel makes an assignment, or enters into an arrangement with or for the general benefit of its creditors, or files a notice of intention to make a proposal under any applicable bankruptcy or other similar laws, is subject to the appointment of a trustee, custodian, receiver, or receiver manager of itself or of any substantial part of its assets, or otherwise ceases to carry on normal business operation.
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Related to Events of Release

  • Waiver of Servicer Events of Default The Holders representing at least 66% of the Voting Rights evidenced by all Classes of Certificates affected by any default or Servicer Event of Default hereunder may waive such default or Servicer Event of Default; provided, however, that a default or Servicer Event of Default under clause (i) or (vii) of Section 7.01 may be waived only by all of the Holders of the Regular Certificates. Upon any such waiver of a default or Servicer Event of Default, such default or Servicer Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Servicer Event of Default or impair any right consequent thereon except to the extent expressly so waived.

  • Waiver of Events of Default The Holders representing at least 66% of the Voting Rights affected by a default or Event of Default hereunder may waive such default or Event of Default; provided, however, that (a) a default or Event of Default under clause (i) of Section 7.01 may be waived only by all of the Holders of Certificates affected by such default or Event of Default and (b) no waiver pursuant to this Section 7.04 shall affect the Holders of Certificates in the manner set forth in Section 11.01(b)(i) or (ii). Upon any such waiver of a default or Event of Default by the Holders representing the requisite percentage of Voting Rights affected by such default or Event of Default, such default or Event of Default shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other default or Event of Default or impair any right consequent thereon except to the extent expressly so waived.

  • EVENTS OF DEFAULTS AND CONSEQUENCES Subject to the Force Majeure clause, the Promoter shall be considered under a condition of Default, in the following events: (i) Promoter fails to provide ready to move in possession of the [Apartment/Plot] to the Allottee within the time period specified. For the purpose of this clause, 'ready to move in possession' shall mean that the apartment shall be in a habitable condition which is complete in all respects; (ii) Discontinuance of the Promoter's business as a developer on account of suspension or revocation of his registration under the provisions of the Act or the rules or regulations made thereunder. In case of Default by Promoter under the conditions listed above, Allottee is entitled to the following: (i) Stop making further payments to Promoter as demanded by the Promoter. If the Allottee stops making payments, the Promoter shall correct the situation by completing the construction milestones and only thereafter the Allottee be required to make the next payment without any penal interest; or (ii) The Allottee shall have the option of terminating the Agreement in which case the Promoter shall be liable to refund the entire money paid by the Allottee under any head whatsoever towards the purchase of the apartment, along with interest at the rate specified in the Rules within forty-five days of receiving the termination notice: Provided that where an Allottee does not intend to withdraw from the project or terminate the Agreement, he shall be paid, by the promoter, interest at the rate specified in the Rules, for every month of delay till the handing over of the possession of the [Apartment/Plot]. The Allottee shall be considered under a condition of Default, on the occurrence of the following events: (i) In case the Allottee fails to make payments for consecutive demands made by the Promoter as per the Payment Plan annexed hereto, despite having been issued notice in that regard the allottee shall be liable to pay interest to the promoter on the unpaid amount at the rate specified in the Rules. (ii) In case of Default by Allottee under the condition listed above continues for a period beyond consecutive months after notice from the Promoter in this regard, the Promoter shall cancel the allotment of the [Apartment/ Plot] in favour of the Allottee and refund the amount money paid to him by the allottee by deducting the booking amount and the interest liabilities and this Agreement shall thereupon stand terminated.

  • Additional Events of Default In addition to the Events of Default set forth in the Indenture, the term “Event of Default,” whenever used in the Indenture or this Supplemental Indenture with respect to the Senior Notes, means any one of the following events (whatever the reason for such Event of Default and whether it may be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree, or order of any court or any order, rule, or regulation of any administrative or governmental body): (a) the failure to redeem the Senior Notes when required pursuant to the terms and conditions thereof or to pay the repurchase price for Senior Notes to be repurchased in accordance with Section 3.2 of this Supplemental Indenture; (b) any nonpayment at maturity or other default under any agreement or instrument relating to any other Indebtedness of the Company or any of its Restricted Subsidiaries (the unpaid principal amount of which is not less than $100.0 million), and, in any such case, such default (i) continues beyond any period of grace provided with respect thereto and (ii) results in such Indebtedness becoming due prior to its stated maturity or occurs at the final maturity of such Indebtedness; provided, however, that, subject to the provisions of Section 9.01 and 8.08 of the Indenture, the Trustee shall not be deemed to have knowledge of such nonpayment or other default unless either (1) a Responsible Officer of the Trustee has actual knowledge of nonpayment or other default or (2) the Trustee has received written notice thereof from the Company, from any Holder, from the holder of any such Indebtedness or from the trustee under the agreement or instrument, relating to such Indebtedness; (c) the entry of one or more final judgments or orders for the payment of money against the Company, the Guarantor or any of their respective Restricted Subsidiaries, which judgments and orders create a liability of $100.0 million or more in excess of insured amounts and have not been stayed (by appeal or otherwise), vacated, discharged, or otherwise satisfied within 60 calendar days of the entry of such judgments and orders; (d) the Guarantee ceases to be in full force and effect (except as contemplated by the terms of the Indenture) or is declared in a judicial proceeding to be null and void, or the Guarantor denies or disaffirms in writing its obligation under the Guarantee; and (e) Events of Default of the type and subject to the conditions set forth in clauses (vii) and (viii) of Section 8.01(a) of the Indenture in respect of any Significant Subsidiary or, in related events, any group of Subsidiaries of the Company or Guarantor which, if considered in the aggregate, would be a Significant Subsidiary of the Company or Guarantor.

  • Definition of Events of Default “Event of Default” means the occurrence of any of the following: