Supplier Defaults. The following events shall be defaults of Supplier (each, a “Supplier Default”): (a) Supplier is Bankrupt; (b) Supplier breaches any material term of this Agreement and such breach remains uncured for sixty (60) days after Host’s notice to Supplier of such breach, if curable within sixty (60) days, or Supplier fails to commence and pursue diligently a cure to such breach within sixty (60) days of receiving such notice if a longer cure period is needed, and, in any event, fails to cure within ninety (90) days of receiving such notice; or (c) Supplier fails to achieve Commercial Operation by the date in the schedule as proposed in Exhibit B, unless the Parties agree to an extension thereof.
Appears in 2 contracts
Sources: Commercial Power Purchase Agreement, Commercial Power Purchase Agreement