Common use of APP Ineligibility Following Default Clause in Contracts

APP Ineligibility Following Default. The Producer acknowledges and agrees that in the event the Producer defaults under this Agreement, the Producer shall not be eligible to apply for or to receive future Advances from the Administrator for the following ineligibility periods: 9.3.1. No ineligibility period where the Advance in Default is repaid within six (6) months from the date of Default; 9.3.2. An ineligibility period of one (1) year from the date of full repayment where the defaulted Advance is repaid beyond six (6) months of being declared in Default 9.3.3. An ineligibility period of two (2) years from the date of full payment where the Producer has defaulted twice within a period of three (3) years; 9.3.4. An ineligibility period of three (3) years from the date of full payment by the Producer to the Minister, where the amount in Default has been paid by the Minister to the Administrator, or where the Minister has waived a portion of a Producer’s obligation to pay the Advance indebtedness pursuant to APP; 9.3.5. An ineligibility period of six (6) years from the date of full payment if this ineligibility period is agreed to pursuant to the terms of a compromise settlement agreement; 9.3.6. An ineligibility period of seven (7) years from the date the Producer has been discharged from bankruptcy if the Producer has declared bankruptcy under the Bankruptcy & Insolvency Act or following the completion of any compromise or settlement of the Producer’s indebtedness pursuant to a proposal under this Act or the Companies’ Creditors Arrangement Act.

APP Ineligibility Following Default. The Producer acknowledges and agrees that in the event the Producer defaults under this Agreement, the Producer shall not be eligible to apply for or to receive future Advances from the Administrator for the following ineligibility periods: 9.3.1. (a) No ineligibility period where the Advance in Default is repaid within six (6) months from the date of Default; 9.3.2. (b) An ineligibility period of one (1) year from the date of full repayment where the defaulted Advance is repaid beyond six (6) months of being declared in Defaultdefault 9.3.3. (c) An ineligibility period of two (2) years from the date of full payment where the Producer has defaulted twice within a period of three (3) years; 9.3.4. (d) An ineligibility period of three (3) years from the date of full payment by the Producer to the Minister, where the amount in Default has been paid by the Minister to the Administrator, or where the Minister has waived a portion of a Producer’s obligation to pay the Advance indebtedness pursuant to APP; 9.3.5. (e) An ineligibility period of six (6) years from the date of full payment if this ineligibility period is agreed to pursuant to the terms of a compromise settlement agreement; 9.3.6. (f) An ineligibility period of seven (7) years from the date the Producer has been discharged from bankruptcy if the Producer has declared bankruptcy under the Bankruptcy & Insolvency Act or following the completion of any compromise or settlement of the Producer’s indebtedness pursuant to a proposal under this Act or the Companies’ Creditors Arrangement Act.