Common use of AMISP EVENT OF DEFAULT Clause in Contracts

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. a) AMISP has failed to procure and arrange requisite finances for the implementation of the Project; b) 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; c) AMISP, in the judgment of APDCL has engaged in corrupt, fraudulent, collusive, or coercive practices, in competing for or in executing the Contract; or d) 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; e) 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 APDCL would adversely affect AMISP’s ability to implement the Project; f) 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; g) In the event AMISP fails to cure the default as indicated in the SLA Default Notice within the time period specified therein; h) Failure of AMISP to furnish Performance Security in accordance with the provisions of this Contract; i) Failure of AMISP to provide Solution in accordance with Specifications as mentioned in the Schedule F; j) Any representation or warranty made by the AMISP during the term of the Contract is found to be false and/or misleading; k) Failure on account of AMISP to abide by Applicable Laws and regulations; l) The shareholding of the AMISP ceases to be in accordance with the provisions of this Contract; m) No person having System Integration (SI) experience in terms of the RFP remains a shareholder of the AMISP; n) In the event equipment installed or proposed to be installed by the AMISP is found to have any embedded malware/ trojans/ cyber threat; o) AMISP fails to comply with the local content requirement as specified in the Bid Submission; p) AMISP fails to comply with any of its material obligations under this Contract.

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. a) AMISP has failed to procure and arrange requisite finances for the implementation of the Project; b) 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; c) AMISP, in the judgment of APDCL [Utility] has engaged in corrupt, fraudulent, collusive, or coercive practices, in competing for or in executing the Contract; or d) 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; e) 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 APDCL [Utility] would adversely affect AMISP’s ability to implement the Project; f) 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; g) In the event AMISP fails to cure the default as indicated in the SLA Default Notice within the time period specified therein; h) Failure of AMISP to furnish Performance Security in accordance with the provisions of this Contract; i) Failure of AMISP to provide Solution in accordance with Specifications as mentioned in the Schedule F; j) Any representation or warranty made by the AMISP during the term of the Contract is found to be false and/or misleading; k) Failure on account of AMISP to abide by Applicable Laws and regulations; l) The shareholding of the AMISP ceases to be in accordance with the provisions of this Contract; m) No person having System Integration (SI) experience in terms of the RFP remains a shareholder of the AMISP; n) In the event equipment installed or proposed to be installed by the AMISP is found to have any embedded malware/ trojans/ cyber threat; o) AMISP fails to comply with the local content requirement as specified in the Bid Submission; p) AMISP fails to comply with any of its material obligations under this Contract.

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. a) AMISP . XXXXX has failed to procure and arrange requisite finances for the implementation of the Project; b) ; 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; c) ; AMISP, in the judgment of APDCL [Utility] has engaged in corrupt, fraudulent, collusive, or coercive practices, in competing for or in executing the Contract; or d) 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; e) ; 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 APDCL [Utility] would adversely affect AMISP’s ability to implement the Project; f) ; 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; g) ; In the event AMISP fails to cure the default as indicated in the SLA Default Notice within the time period specified therein; h) ; Failure of AMISP to furnish Performance Security in accordance with the provisions of this Contract; i) ; Failure of AMISP to provide Solution in accordance with Specifications as mentioned in the Schedule F; j) ; Any representation or warranty made by the AMISP during the term of the Contract is found to be false and/or misleading; k) ; Failure on account of AMISP to abide by Applicable Laws and regulations; l) ; The shareholding of the AMISP ceases to be in accordance with the provisions of this Contract; m) ; No person having System Integration (SI) experience in terms of the RFP remains a shareholder of the AMISP; n) ; In the event equipment installed or proposed to be installed by the AMISP is found to have any embedded malware/ trojans/ cyber threat; o) ; AMISP fails to comply with the local content requirement as specified in the Bid Submission; p) ; AMISP fails to comply with any of its material obligations under this Contract.