Termination Due to an Event of Default Clause Samples

Termination Due to an Event of Default. (a) Each of the following shall be an Event of Default by Countrywide if it shall occur and, if applicable, be continuing for the period of time set forth therein: (i) any failure by Countrywide to remit to the Purchaser any payment required to be made under the terms of this Agreement which such failure continues unremedied for a period of two (2) Business Days after the date upon which written notice of such failure, requiring the same to be remedied, shall have been given to Countrywide by the Purchaser; or (ii) any failure on the part of Countrywide to duly observe or perform in any material respect any of the covenants or agreements on the part of Countrywide set forth in this Agreement, Purchase Agreement or in the Custodial Agreement, if any, which continues unremedied for a period of thirty (30) days (except that such number of days shall be fifteen (15) in the case of a failure to pay any premium for any insurance policy required to be maintained under this Agreement) after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to Countrywide by the Purchaser; or (iii) a decree or order of a court or agency or supervisory authority having jurisdiction for the appointment of a conservator or receiver or liquidator in any insolvency, bankruptcy, readjustment of debt, marshaling of assets and liabilities or similar proceedings, or for the winding-up or liquidation of its affairs, shall have been entered against Countrywide and such decree or order shall have remained in force undischarged or unstayed for a period of sixty (60) days; or (iv) Countrywide shall consent to the appointment of a conservator or receiver or liquidator in any insolvency, bankruptcy, readjustment of debt, marshaling of assets and liabilities or similar proceedings of or relating to Countrywide or of or relating to all or substantially all of its property; or (v) Countrywide shall admit in writing its inability to pay its debts generally as they become due, file a petition to take advantage of any applicable insolvency or reorganization statute, make an assignment for the benefit of its creditors, or voluntarily suspend payment of its obligations. (vi) Countrywide shall cease to be an Agency approved servicer; or (vii) Countrywide attempts to assign its right to servicing compensation hereunder, except as permitted under this Agreement or to any Countrywide affiliate or to assign this Agreement or the servicing responsibilitie...

Termination Due to an Event of Default. If the Agreement is terminated by Buyer in accordance with this Agreement after the Commercial Operations Date due to an Event of Default where Seller is the Defaulting Party, Buyer shall be entitled to Termination Damages equal to the remainder of the Contract Total.

Termination Due to an Event of Default. Each of the following shall be an Event of Default by Countrywide if it shall occur and, if applicable, be continuing for the period of time set forth therein:

Termination Due to an Event of Default. If the Agreement is terminated by Company in accordance with this Agreement due to an Event of Default where Seller is the Defaulting Party, Company shall be entitled to Termination Damages calculated by multiplying the ▇▇▇▇ Contract Capacity by $75/kW. Company may assess Termination Damages under Section 16.1 (Termination Due to Failure to Meet a Guaranteed Project Milestone Date) or Section 16.2 (Termination Due to an Event of Default), as applicable, but may not assess Termination Damages under both Section 16.1 (Termination Due to Failure to Meet a Guaranteed Project Milestone Date) and Section 16.2 (Termination Due to an Event of Default).

Termination Due to an Event of Default due to a Company Event of Default, the Agency shall allow the Lenders to enforce their rights under the Financing Agreements. If the Lenders do not exercise their rights under the Financing Agreements or if the Financing Agreements are no longer effective, the Agency shall have the right in its sole discretion to take over and purchase all of the Company’s right, title, and interest in the Facilities and the Project for the purchase price and in accordance with the procedures set forth in Schedule 23 (Termination Buy-­‐Out and Transfer Provisions). The Agency may require the Company to continue performing it obligations under this Agreement for a reasonable fee until the Agency has procured suitable arrangements to continue the Project.

Termination Due to an Event of Default. (a) If a Government Event of Default occurs with respect to a Sub Project, the relevant Sponsor shall have the right to terminate the relevant Concession and any other rights of such Sponsor under this Agreement that are associated with the relevant Sub Project with effect from the relevant Termination Date by delivering a Termination Notice to each other Party; provided that such Termination Notice must be delivered (i) within ninety (90) days of such Sponsor becoming aware of the occurrence of such Government Event of Default, or (ii) with respect to any Government Event of Default that is related to a breach by any Government Entity of any payment obligation, at any time so long as such Government Event of Default is continuing. (b) If a Sponsor Event of Default occurs with respect to a Sub Project, the Government shall have the right to terminate the relevant Concession and any other rights of the relevant Sponsor under this Agreement that are associated with the relevant Sub Project with effect from the relevant Termination Date by delivering a Termination Notice; provided that such Termination Notice must be delivered within ninety (90) days of the Government becoming aware of the occurrence of such Sponsor Event of Default; provided, further that, in any such instance, the Government shall deliver a copy of such Termination Notice to the relevant Sub Project Finance Parties' representative(s) in accordance with the relevant Direct Agreement. (c) Notwithstanding anything to the contrary in this Clause 15, the rights of the Government under this Agreement and under any applicable Consent following a Sponsor Event of Default are subject to the rights of such Sub Project Finance Parties as set out in such Direct Agreement (including (i) to remedy any default by such Sponsor within any applicable cure period, and (ii) to assume the rights, benefits and obligations of such Sponsor under this Agreement or any applicable Consents, in part or in whole, during the period required for exercise of such rights as provided in such Direct Agreement). (d) No termination of any Concession by the Government shall be valid or binding on any Sub Project Finance Parties until the expiration of any cure period or any extended cure period set out in the relevant Direct Agreement.

Termination Due to an Event of Default