Licensor Event of Default definition

Licensor Event of Default means: (A) the non-recurring occurrence of any of the following which is not cured by Licensor within thirty (30) days of Licensor’s receipt of written notice from Licensee of such occurrence: (x) Licensor fails to timely perform or breaches any of its material obligations hereunder or otherwise materially breaches this Agreement, or (y) Licensor assigns or otherwise transfers this Agreement in violation of this Agreement; or (B) upon the following: (i) Licensor becoming unable to pay its debts; (ii) a petition being presented or a meeting being convened for the purpose of considering a resolution for the making of an administration order, the winding-up, bankruptcy or dissolution of Licensor; (iii) Licensor becoming insolvent; (iv) a petition under any bankruptcy or analogous act being filed by or against Licensor (which petition, if filed against Licensor, shall not have been dismissed by the relevant authority within thirty (30) days thereafter); (v) Licensor executing an assignment for the benefit of creditors; (vi) a receiver being appointed for the assets of Licensee; or (vii) Licensor taking advantage of any applicable bankruptcy, insolvency or reorganization or any other like statute.
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Licensor Event of Default shall have the meaning as set forth in Clause 31.2.1;
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Licensor Event of Default means: (a) the non-recurring occurrence of any of the following which is not cured by Licensor within thirty (30) days of Licensor’s receipt of written notice from Licensee of such occurrence: (x) Licensor fails to timely perform or breaches any of its material obligations hereunder or otherwise materially breaches this Agreement, or (y) Licensor assigns or otherwise transfers this Agreement in violation of this Agreement; or (b) upon the following:
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Examples of Licensor Event of Default in a sentence

  • Notwithstanding the foregoing, if there is an Action or Proceeding pending or commenced between the Parties with respect to the particular Licensor Event of Default or Licensee Event of Default, as applicable, covered by such Final Notice, the foregoing thirty (30)-day period shall be tolled until a final non-appealable judgment or award, as the case may be, is entered with respect to such Action or Proceeding.

  • Notwithstanding anything contained herein to the contrary, Licensee acknowledges and agrees that a breach of the representation and warranty contained in Section 11.1(a)(iii) above shall not be deemed to be a breach of this Agreement or to constitute a Licensor Event of Default, provided that Licensor shall nonetheless be required to indemnify Licensee in accordance with Section 11.1(b) for any Claims arising from such breach.

  • Subject to Section 16.4, if Licensor fails to cure a Licensor Event of Default within thirty (30) days after delivery by Licensee to Licensor of written notice of such Licensor Event of Default, then Licensee’s rights will be limited to an action at law for damages as a result thereof, and in no event will Licensee be entitled to injunctive or other equitable relief of any kind requiring delivery of the Programs.

  • Provided that in case of termination due to a Licensor Event of Default, the Licensor shall pay to the Licensee the Final Compensation Paya ble within 180 days of the date of transfer of the Leased Premises to the Licensor.

  • Subject to Section 15.4, if Licensor fails to cure a Licensor Event of Default within thirty (30) days after delivery by Licensee to Licensor of written notice of such Licensor Event of Default, then Licensee’s rights will be limited to an action at law for damages as a result thereof, and in no event will Licensee be entitled to injunctive or other equitable relief of any kind requiring delivery of the Programs.

  • Provided if the termination is on account of Licensor Event of Default, the cost of such transfer shall be borne/ reimbursed by the Licensor.

  • In the event of a Licensor Event of Default or Licensee Event of Default (“Event of Default”) the termination procedure as set out in this Clause shall apply.

  • If Licensor fails to cure a Licensor Event of Default specified in (a) above that is curable within thirty days from receipt of written notice from Licensee of such default or upon a Licensor Event of Default under (a) above that is not curable or under (b) above, Licensee shall have the right to terminate this Agreement with respect to such license.

  • If Licensor fails to cure a Licensor Event of Default specified under (a) above that is curable within thirty days from receipt of written notice from Licensee of such default or upon a Licensor Event of Default under (a) above that is not curable or under (b) above, Licensee shall have the right to terminate this Agreement.

  • The Licensee shall entirely at its cost, terminate all such Project Contracts which are not transferred/ assigned to the Licensor provided, if the termination is on account of the Licensor Event of Default the Licensor shall compensate the Licensee to the extent of the termination payments, if any, made or to be made by the Licensee to the counter parties to such contracts.


More Definitions of Licensor Event of Default

Licensor Event of Default shall have the meaning set forth in Section 31.1(b). “Licensor Indemnified Persons” shall mean Licensor and its Related Parties. “Licensor Regulations” shall have the meaning set forth in Article 24.
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Licensor Event of Default means the occurrence of any of the following: (A) Licensor fails to timely perform or breaches any of its material obligations hereunder or (B) upon (i) Licensor becoming unable to pay its debts; (ii) a petition being presented or a meeting being convened for the purpose of considering a resolution for the making of an administration order, the winding-up, bankruptcy or dissolution of Licensor; (iii) Licensor becoming insolvent; (iv) a petition under any bankruptcy or analogous act being filed by or against Licensor (which petition, if filed against Licensor, shall not have been dismissed by the relevant authority within thirty (30) days thereafter); (v) Licensor executing an assignment for the benefit of creditors; (vi) a receiver being appointed for the assets of Licensor; (vii) Licensor taking advantage of any applicable bankruptcy, insolvency or reorganization or any other like statute; or (viii) the occurrence of any event analogous to the foregoing. As used herein, “Licensor Termination Event” means (I) the occurrence of a curable Licensor Event of Default described in subclause (A) above that Licensor has failed to cure within thirty (30) days written notice from Licensee of the occurrence of such default, or (II) the occurrence of a non-curable Licensor Event of Default described in subclause (A) above or (III) the occurrence of a Licensee Event of Default described in subclause (B) above. Notwithstanding anything to the contrary contained in Sections 17.1 or 17.2 hereof, no termination of this Agreement for any reason shall relieve or discharge, or be deemed or construed as relieving or discharging, any party hereto from any duty, obligation or liability hereunder which was accrued as of the date of such termination (including, without limitation, the obligation to pay any amounts payable hereunder accrued as of such date of termination).
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Licensor Event of Default shall have the meaning specified in Section 15(C).
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Licensor Event of Default shall have the meaning ascribed to the term in Section 11.1 hereof;
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Related to Licensor Event of Default

  • PTC Event of Default Means any failure to pay within 10 Business Days of the due date thereof: (i) the outstanding Pool Balance on the Final Legal Distribution Date or (ii) interest due on the Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or Drawings (as defined in the Intercreditor Agreement), or a withdrawal or withdrawals pursuant to Section 3.6(f) of the Intercreditor Agreement, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee).

  • Event of Default has the meaning specified in Section 8.01.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.