EVENTS OFDEFAULT Clause Samples

EVENTS OFDEFAULT. If any of the following events (any such event, an “Event of Default”) shall occur: (a) any Loan Party shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; (b) any Loan Party shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in paragraph (a) of this Section) payable under any Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five Business Days; (c) any representation or warranty made or deemed made by or on behalf of Holdings, the Borrower or any of its Restricted Subsidiaries in or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, shall prove to have been incorrect in any material respect when made or deemed made; (d) Holdings, the Borrower or any of its Restricted Subsidiaries shall fail to observe or perform any covenant, condition or agreement contained in Sections 5.02, 5.04 (with respect to the existence of Holdings, the Borrower or such Restricted Subsidiaries), 5.10 or in Article 6 (other than Section 6.09); provided that any Event of Default under the Financial Performance Covenants is subject to the cure period provided in Section 7.02; (e) Holdings, the Borrower or any of its Restricted Subsidiaries shall fail to observe or perform any covenant, condition or agreement contained in any Loan Document (other than those specified in paragraph (a), (b) or (d) of this Section), and such failure shall continue unremedied for a period of 30 days after notice thereof from the Administrative Agent to the Borrower; 154 (f) Holdings, the Borrower or any of its Restricted Subsidiaries shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of any Material Indebtedness, when and as the same shall become due and payable (after giving effect to any applicable grace period); (g) any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables or permits (with all applicable grace periods ...

EVENTS OFDEFAULT. 28 Section 9.2.

EVENTS OFDEFAULT. Each ofthe following shall constitute an "Event ofDefault" by Borrower under this Agreement: (a) to A A failure by the Borrower to acquire the Park within the time set forth in Section 3.1.

EVENTS OFDEFAULT. LTC/MTC’s Default: The occurrence of any of the following events at any time during the term of this Agreement shall constitute an Event of Default by the LTC/MTC: 1. Failure or refusal by the LTC/MTC to perform any of its obligations agreed under this Agreement. 2. Failure by the Generating Facility to generate and inject and failure by LTC/MTC to wheel and/or transmit energy continuously for a period of six months in a Financial Year, as the case maybe. 3. Non-payment of charges as specified in this agreement within the time specified in clause G(1) of this Agreement.

EVENTS OFDEFAULT. ‌ 26.1 The occurrence of any one or more of the following in respect of either party ("Defaulting Party") shall be an Event of Default: 26.1.1 either party does not make any payment when due under the Transaction and these Terms and such failure is not remedied on or before the third Business Day after notice of such failure is given to the party; 26.1.2 either party shall be in default of any other obligation under the Transaction and these Terms), which if capable of remedy is not remedied within 30 days after notice by the other party; 26.1.3 any representation or warranty given by you, us or any Credit Support Provider of either party in clause 41 of these Terms or otherwise is, when given, incorrect or misleading in any materialrespect; 26.1.4 either party or its Credit Support Provider: 26.1.4.1 is dissolved (other than pursuant to a consolidation, amalgamation or merger); 26.1.4.2 becomes insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due; 26.1.4.3 makes a general assignment, arrangement or composition with or for the benefit of its creditors; 26.1.4.4 institutes or has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors' rights, or a petition is presented for its winding-up or liquidation, and, in the case of any such proceeding or petition instituted or presented against it. Such proceeding or petition: (a) results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation; or (b) is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution or presentation thereof; 26.1.4.5 has a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger); 26.1.4.6 has a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger); 26.1.4.7 seeks or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or for all or substantially all its assets; 26.1.4.8 has a secured party take possession of all or substantially all its assets or has a distress, execution, attachment, sequestration or other le...