AMISP EVENT OF DEFAULT Sample Clauses

AMISP EVENT OF DEFAULT. 11.1.1. AMISP Event of Default means any of the following events arising out of any acts or omission of AMISP, its representative, sub-contracts, employees and which have not occurred solely as a result of any breach of this Contract by the Utility or due to Force Majeure, and where AMISP has failed to remedy these events within a period of 90 (ninety) days of issuance of a notice by Utility requiring AMISP to remedy such event.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
AMISP EVENT OF DEFAULT. AMISP Event of Default means any of the following events arising out of any acts or omission of AMISP, its representative, sub-contracts, employees and which have not occurred solely as a result of any breach of this Contract by the Utility or due to Force Majeure, and where AMISP has failed to remedy these events within a period of 90 (ninety) days of issuance of a notice by Utility requiring AMISP to remedy such event. XXXXX has failed to procure and arrange requisite finances for the implementation of the Project; AMISP abandons the implementation of the Project or repudiates this Contract or otherwise takes any action, or evidences or conveys an intention not to be bound by the Contract; AMISP, in the judgment of [Utility] has engaged in corrupt, fraudulent, collusive, or coercive practices, in competing for or in executing the Contract; or AMISP is adjudged bankrupt or insolvent, or if a trustee or receiver is appointed for AMISP or for the whole or material part of its assets that has a material bearing on its ability to implement the Project; AMISP has been, or is in the process of being liquidated, dissolved, wound-up, amalgamated or reconstituted in a manner that in the reasonable opinion of [Utility] would adversely affect AMISP’s ability to implement the Project; A resolution for winding up of AMISP is passed, or any petition for winding up of AMISP is admitted by a court of competent jurisdiction and a provisional liquidator or receiver is appointed and such order has not been set aside within 90 (Ninety) days of the date thereof or AMISP is ordered to be wound up by a court of competent jurisdiction; In the event AMISP fails to cure the default as indicated in the SLA Default Notice within the time period specified therein; Failure of AMISP to furnish Performance Security in accordance with the provisions of this Contract; Failure of AMISP to provide Solution in accordance with Specifications as mentioned in the Schedule F; Any representation or warranty made by the AMISP during the term of the Contract is found to be false and/or misleading; Failure on account of AMISP to abide by Applicable Laws and regulations; The shareholding of the AMISP ceases to be in accordance with the provisions of this Contract; No person having System Integration (SI) experience in terms of the RFP remains a shareholder of the AMISP; In the event equipment installed or proposed to be installed by the AMISP is found to have any embedded malware/ trojans/ cyber thre...
Sample 1

Related to AMISP EVENT OF DEFAULT

  • Developer Event of Default Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer:

  • Event of Default Any of the following shall constitute an “Event of Default”:

  • No Event of Default No Default or Event of Default has occurred and is continuing.

  • Authority Event of Default Any of the following events shall constitute an event of default by the Authority ("Authority Event of Default”), when not caused by a Developer 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 Rent, the Mortgagee shall give prompt written notice thereof to the Owner Trustee, the Owner Participant, Lessee, and each Note Holder. Subject to the terms of Sections 2.13, 4.03, 4.04, 4.08, 5.02 and 5.03 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 5.03, 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 5.01, 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 Owner Trustee or the Owner Participant, the Mortgagee, the Owner Trustee or the Owner Participant, as the case may be, shall not be deemed to have knowledge of a Default or an Event of Default (except, in the case of the Mortgagee, the failure of Lessee to pay any installment of Basic Rent within one Business Day after the same shall become due, if any portion of such installment was then required to be paid to the Mortgagee, which failure shall constitute knowledge of a Default) unless notified in writing by Lessee, the Owner Trustee, the Owner Participant or one or more Note Holders.

  • Termination due to Event of Default (a) Termination due to Parties Event of Default

  • Rights Upon Event of Default (a) As long as an Event of Default under this Agreement remains unremedied, Holders of not less than 50% of the outstanding Class Principal Balance of the Original Notes (in each case the outstanding Class Principal Balance of the Original Notes will be determined without regard to any exchanges of Class M Notes for MAC Notes) to which such Event of Default relates may, by written notice to Freddie Mac, declare such Notes due and payable and accelerate the maturity of such Notes. In the event that Class M Notes have been exchanged for MAC Notes, Holders of such MAC Notes will be entitled to exercise all the voting or direction rights that are allocated to such exchanged Class M Notes as described herein. Upon such acceleration, the Class Principal Balance of such Notes and the interest accrued thereon shall be due and payable.

  • EVENT OF DEFAULT/REMEDIES 8.1 Any one or more of the following acts or omissions of the Contractor shall constitute an event of default hereunder (“Event of Default”):

  • Effect of Event of Default If any Event of Default described in Section 13.1.4 shall occur in respect of the Company, the Commitments shall immediately terminate and the Loans and all other Obligations hereunder shall become immediately due and payable and the Company shall become immediately obligated to Cash Collateralize all Letters of Credit, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, the Administrative Agent may (and, upon the written request of the Required Lenders shall) declare the Commitments to be terminated in whole or in part and/or declare all or any part of the Loans and all other Obligations hereunder to be due and payable and/or demand that the Company immediately Cash Collateralize all or any Letters of Credit, whereupon the Commitments shall immediately terminate (or be reduced, as applicable) and/or the Loans and other Obligations hereunder shall become immediately due and payable (in whole or in part, as applicable) and/or the Company shall immediately become obligated to Cash Collateralize the Letters of Credit (all or any, as applicable), all without presentment, demand, protest or notice of any kind. The Administrative Agent shall promptly advise the Company of any such declaration, but failure to do so shall not impair the effect of such declaration. Any cash collateral delivered hereunder shall be held by the Administrative Agent (without liability for interest thereon) and applied to the Obligations arising in connection with any drawing under a Letter of Credit. After the expiration or termination of all Letters of Credit, such cash collateral shall be applied by the Administrative Agent to any remaining Obligations hereunder and any excess shall be delivered to the Company or as a court of competent jurisdiction may elect.

  • Default Events (a) Any material breach of the Funding Agreement by the Recipient, including those set out below, will be an event of default (“Default Event”):

Time is Money Join Law Insider Premium to draft better contracts faster.