Common use of Seller Events of Default Clause in Contracts

Seller Events of Default. The occurrence of any one or more of the following shall constitute an Event of Default of Seller (“Seller Event of Default”): (a) The Actual Commercial Operation Date has not occurred by the Expected Commercial Operation Date unless such failure is caused by a Force Majeure Event or Purchaser Event of Default; (b) The failure by Seller to perform any material obligations under this Agreement, unless such failure is caused by a Force Majeure Event or Purchaser Event of Default; provided, however, such failure continues for ninety (90) Business Days (or such additional reasonable period of time if the claimed default cannot be substantially cured through reasonable efforts) after Purchaser shall have given Notice demanding such failure to perform be cured;

Appears in 2 contracts

Sources: Solar Power Purchase Agreement Services, Solar Power Purchase Agreement Services

Seller Events of Default. The occurrence of any one or more of the following shall constitute an Event of Default of Seller (“Seller Event of Default”):Default”):‌ (a) The Actual Commercial Operation Date has not occurred by the Expected Commercial Operation Date unless such failure is caused by a Force Majeure Event or Purchaser Event of Default; (b) The failure by Seller to perform or comply with any material obligations under this Agreement, unless such failure is caused by a Force Majeure Event or Purchaser Event of Default; provided, however, such failure continues for ninety (90) Business Days (or such additional reasonable period of time if the claimed default cannot be substantially cured through reasonable efforts) after Purchaser shall have given Notice demanding such failure to perform be cured;

Appears in 1 contract

Sources: Solar Power Purchase Agreement