Examples of Event of Default in a sentence
In the event of termination of PPA/PSA on account of Event of Default by the Buying Entity, any damages or charges payable to the STU/ CTU, for the connectivity of the plant, shall be borne by the Buying Entity.
Upon an Event of Default as defined in Section 23.1 (Event of Default), SRTA may, in its sole discretion, terminate this Contract, in whole or in part.
An Event of Default shall also constitute Xxxxxxx’s instituting or has instituted against it a proceeding for insolvency or bankruptcy, or other similar relief.
Upon the occurrence of an Event of Default, SRTA may, in addition to and without prejudice to all other contractual remedies and/or remedies allowed at law or in equity, proceed to take any or all of the following actions: Withhold any money then due and/or thereafter due to Contractor; Perform or cause to be performed for the account of Contractor any contractual obligation, the performance of which the Contractor is in default, or make any payment for which the Contractor is in default.
Network Rail shall notify the Train Operator promptly on becoming aware of the occurrence of a Network Rail Event of Default.