Common use of Private Partner Event of Default Clause in Contracts

Private Partner Event of Default. 15.1.1 A "Private Partner Event of Default" shall mean any of the following: 15.1.1.1 non-fulfilment of Investment Obligations during the period set in Clause 16.1.4; 15.1.1.2 Group 1 Breach of Technical Requirements, which (i) has been confirmed based on the monitoring, control and reporting procedures set by Section 13 or based on the Independent Expert's decision and (ii) has not been cured by the Private Partner within the rectification period set in Clause 16.3.1.1; 15.1.1.3 systematic Group 2 Breach of Technical Requirements, confirmed and not cured as indicated in Clause 16.3.1.2; 15.1.1.4 withdrawal of the entire amount of the Operation Security before the end of the Project Period under the conditions specified in Clause 9.2.11; 15.1.1.5 failure to provide and/or maintain the validity of the Operation Security during the period set in Clause 9.2.11; 15.1.1.6 failure to provide and/or maintain the validity of the Handback Security during the period set in Clause 9.3.3; 15.1.1.7 failure to provide and/or maintain the validity of the insurance required under Clause 11.2 during the period set in Clause 16.5.2; 15.1.1.8 non-fulfilment of terms and conditions of Financing Documents, which led to Lenders exercising their Step-In Right according to Direct Agreement; 15.1.1.9 initiation of the liquidation procedure in relation to the Private Partner, judicial bankruptcy proceedings or any other proceedings related to insolvency of the Private Partner; 15.1.1.10 breach of any obligations specified in Clause 27.2 in relation to change of ownership structure which result in Change of Control; 15.1.1.11 non-fulfilment of obligations regarding the appointment of the Independent Expert or prepayment to the Independent Expert during the period set in Clause 16.4.2; 15.1.1.12 systematic non-fulfilment of the Private Partner’s obligations on reporting specified in Section 13 of the Agreement, as well as systematic reporting of knowingly wrong or incomplete data in the reporting documents provided to the Public Partner under this Agreement; 15.1.1.13 material breach of the Private Partner’s obligations, warranties and representations under this Agreement or any Financing Documents, except where such breach is a consequence of the Public Partner Event of Default, Force Majeure Event, or Political Force Majeure Event (as the case may be). 15.1.2 The fact of occurrence of a Private Partner Event of Default specified in Clause 15.1 and the amount of penalties for breach of obligations in connection with a relevant Private Partner Event of Default (as may be applicable) shall be confirmed by the consent of the Private Partner or, if there is no such consent, by the decision of the Independent Expert or the arbitration settlement under Section 26, subject to the following conditions: 15.1.2.1 confirmation of Private Partner Events of Default provided in Clauses 15.1.1.8, 15.1.1.11, 15.1.1.13, as well as confirmation of the amount of sanctions envisaged by this Agreement for breach of obligations in connection with such Private Partner Events of Default (as may be applicable), may be established exclusively on the basis of the arbitration settlement; 15.1.2.2 confirmation of Private Partner Events of Default provided in Clauses 15.1.1.1-15.1.1.7, 15.1.1.10, 15.1.1.12, as well as confirmation of the amount of sanctions envisaged by this Agreement for breach of obligations in connection with such Private Partner Events of Default (as may be applicable), may be set exclusively on the basis of the Independent Expert's decision; 15.1.2.3 confirmation of Private Partner Event of Default provided in Clause 15.1.1.9 shall be performed in accordance with the procedure specified in the Applicable Law. 15.1.3 Private Partner Event of Default shall not be the ground for imposition of penalties and early Termination in accordance with this Agreement as long as such Private Partner Event of Default results from illegal actions of the Public Partner, breach of obligations under this Agreement by the Public Partner, or Force Majeure Event or Political Force Majeure Event.