Termination for Concessionaire Event of Default Sample Clauses

Termination for Concessionaire Event of Default i. Without prejudice to any other right or remedy which NNR may have in respect thereof under this Agreement, upon theoccurrence of a Concessionaire Event of Default, NNR shall subject to the provisions of the Lenders’ Step-in Rights entitled to terminate this Agreement in the manneras. Provided however that upon the occurrence of a Concessionaire Event of Default as specified , NNR may immediately terminate this Agreement by issue of Termination Notice in the manner ii. If NNR decides to terminate this Agreement pursuant topreceding clause (i), it shall in the first instance issue Preliminary Notice to the Concessionaire. Within 30 days of receipt of the Preliminary Notice, the Concessionaire shall submit to NNR in sufficient detail, the manner in which it proposes to cure the underlying Event of Default (the “Concessionaire's Proposal to Rectify”). In case of non- submission of the Concessionaire's Proposal to Rectify within the said period of 30 days, NNR shall be entitled to terminate this Agreement by issuing Termination Notice, and to appropriate the Performance Security, ifsubsisting. iii. If the Concessionaire's Proposal to Rectify is submitted within the period stipulated therefor, the Concessionaire shall have further period of 30 days (“Cure Period”) to remedy/ cure the underlying Event of Default. If, however the Concessionaire fails to remedy/ cure the underlying Event of Default within such further period allowed, NNR shall be entitled to terminate this Agreement, by issue of Termination Notice and to appropriatePerformance Security, if subsisting.
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Termination for Concessionaire Event of Default. (a.) Without prejudice to any other right or remedy which the Authority may have in respect thereof under this Agreement, upon the occurrence of a Concessionaire Event of Default, the Authority shall, be entitled to terminate this Agreement in the manner as set out under Article 14.4.1(b) and Article 14.4.1 (c). Provided however that upon the occurrence of a Concessionaire Event of Default as specified under Article 14.2, the Authority may terminate this Agreement by issue of Termination Notice in the manner set out under Article
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Termination for Concessionaire Event of Default. (i) Without prejudice to any other right or remedy which MCD may have in respect thereof under this Agreement, upon the occurrence of a Concessionaire Event of Default, MCD may subject to the provisions of the Substitution Agreement, terminate this Agreement in the manner as set out under Clause 9.2(a)(ii) and Clause 9.2(a)(iii). (ii) If MCD decides to terminate this Agreement pursuant to preceding clause (i), it shall in the first instance issue Preliminary Notice to the Concessionaire. Within thirty
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Termination for Concessionaire Event of Default i. Without prejudice to any other right or remedy which CoC may have in respect thereof under this Agreement, upon the occurrence of a Concessionaire Event of Default, CoC shall be entitled to terminate this Agreement in the manner as set out under Article 12.2 (a)(ii) ii. If CoC decides to terminate this Agreement pursuant to preceding clause (i), it shall in the first instance issue Preliminary Notice to the Concessionaire. Within 60 (sixty) days of receipt of the Preliminary Notice, the Concessionaire shall submit to CoC in sufficient detail, the manner in which it proposes to cure the underlying Event of Default if any (the “Concessionaire's Proposal to Rectify”). In case of non-submission of the Concessionaire's Proposal to Rectify within the said period of 60 days, the CoC shall be entitled to terminate this Agreement by issuing Termination Notice, and to appropriate the Performance Security, if subsisting. If the Concessionaire's Proposal to Rectify is submitted within the period stipulated thereof, the Concessionaire shall have further period of 30 days to remedy / cure the underlying Event of Default (“Cure Period”). If, however the Concessionaire fails to remedy / cure the underlying Event of Default within such further period allowed, CoC shall be entitled to terminate this Agreement, by issue of Termination Notice and to appropriate the, Performance Security, if subsisting.
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Termination for Concessionaire Event of Default. 18.2.1 Without prejudice to any other rights or remedies which the SDMC may have under this Agreement, upon occurrence of a Concessionaire Event of Default, the SDMC shall be entitled to terminate this Agreement by issuing a Termination Notice to the Concessionaire; provided that before issuing the Termination Notice, the SDMC shall by a notice inform the Concessionaire of its intention to issue such Termination Notice and grant 15 (fifteen) days to the Concessionaire to make a representation, and may after the expiry of such 15 (fifteen) days, whether or not it is in receipt of such representation, issue the Termination Notice, subject to the provisions of Clause 18.2.2. 18.2.2 The SDMC shall, if there be Lenders, send a copy of its notice of intention to issue a Termination Notice referred to in Clause 18.2.1 inform the Lenders’ Representative and grant 15 (fifteen) days to the Lenders’ Representative, for making a representation on behalf of the Lenders stating the intention to substitute the Concessionaireor take over Project Facilities and the implement the Project under this Agreement in accordance with the Substitution Agreement. In the event, the SDMC receives such representation on behalf of Lenders, it shall, in its discretion, either withhold Termination for a period not exceeding 180 (one hundred and eighty) days from the date of such representation or exercise its right of Suspension, as the case may be, for enabling the Lenders’ Representative to exercise the Lenders’ right of substitution in accordance with the Substitution Agreement: Provided that the Lenders’ Representative may, instead of exercising the Lenders’ right of substitution, procure that the default specified in the notice is cured within the aforesaid period of 180 (one hundred and eighty) days, and upon such curing thereof, the SDMC shall withdraw its notice referred to above and restore all the rights of the Concessionaire. 18.2.3 In the event the SDMC give a Termination Notice to the Concessionaire pursuant to clause18. 2.1 owing to a Concessionaire Default and the Lenders do not exercise their right to Substitute the Concessionaire within the timeperiod given in clause 18.2.2 or in the event there are no Lenders on account of the Debt in terms of the Financing Documents having been repaid by the Concessionaire, the SDMC shall have the right to Issue the Takeover Notice to the Concessionaire and require the Concessionaire to transfer, within a period of 6 (six) months thereo...
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Termination for Concessionaire Event of Default a. Without prejudice to any other right or remedy which the Authority may have in respect thereof under this Agreement, upon the occurrence of a Concessionaire Event of Default, the Authority may immediately terminate this Agreement by issue of Termination Notice in the manner set out under Clause 15.3.1 (b). b. If the Authority decides to terminate this Agreement pursuant to preceding Clause 15.3.1 (a), it shall in the first instance issue notice of intention to terminate to the Concessionaire. Within 30 days of receipt of the notice of intention to terminate, the Concessionaire shall submit to the Authority in sufficient detail, the manner in which it proposes to cure the underlying Event of Default (the “Concessionaire's Proposal to Rectify”). In case of non-submission of the Concessionaire's Proposal to Rectify within the said period of 30 days, the Authority shall be entitled to terminate this Agreement by issuing termination notice ("Termination Notice"). c. If the Concessionaire's Proposal to Rectify is submitted within the period stipulated there for, the Authority shall have further period of 60 days (the “Cure Period”) to remedy/ cure the underlying Event of Default. If, however the Concessionaire fails to remedy/ cure the underlying Event of Default within such further period allowed, the Authority shall be entitled to terminate this Agreement, by issue of Termination Notice.
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Termination for Concessionaire Event of Default. (a.) Without prejudice to any other right or remedy which the Authority may have in respect thereof under this Agreement, upon the occurrence of a Concessionaire Event of Default, the Authority shall, be entitled to terminate this Agreement in the manner as set out under Article 14.4.1(b) and Article 14.4.1 (c). Provided however that upon the occurrence of a Concessionaire Event of Default as specified under Article 14.2, the Authority may terminate this Agreement by issue of Termination Notice in the manner set out under Article 14.4.3 after giving the Concessionaire an opportunity of hearing.
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Termination for Concessionaire Event of Default. Without prejudice to any other right or remedy which ITEL may have in respect thereof under this Agreement, upon the occurrence of a Concessionaire Event of Default, ITEL shall, be entitled to terminate this Agreement by issuing a Termination Notice to the Concessionaire, provided that before issuing the Termination Notice, ITEL shall by a notice in writing inform the Concessionaire of its intention to issue the Termination Notice (the "Preliminary Notice"). In case the underlying breach/default is not cured within a period of 60 (sixty) days from the date of the Preliminary Notice (Cure Period) ITEL shall be entitled to terminate this Agreement by issuing the Termination Notice. Provided further, that
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Termination for Concessionaire Event of Default 
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Related to Termination for Concessionaire Event of Default

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay any installment of principal and interest on any Equipment Note, the Mortgagee shall give prompt written notice thereof to each Note Holder. Subject to the terms of Sections 5.06, 6.02 and 6.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 6.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 6.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; provided, however, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Mortgagee shall not be deemed to have knowledge of a Default or an Event of Default (except, the failure of Owner to pay any installment of principal or interest within one Business Day after the same shall become due, which failure shall constitute knowledge of a Default) unless notified in writing by the Owner or one or more Note Holders.

  • Termination for Default The Commonwealth may terminate this Agreement by notice where it reasonably believes the Grantee: (a) has breached this Agreement; or (b) has provided false or misleading statements in their application for the Grant; or (c) has become bankrupt or insolvent, entered into a scheme of arrangement with creditors, or come under any form of external administration.