Authority Default. The occurrence of the following shall be an “Event of Default” by the Authority or an “Authority Default”:
(i) the failure of the Authority to pay any payments when due and payable under this Agreement or when due and payable under the terms of other Project Document if such failure continues for more than thirty (30) days after StadCo gives written notice to the Authority that such amount was not paid when due;
(ii) the failure of the Authority to keep, observe or perform any of the material terms, covenants or agreements contained in this Agreement on the Authority’s part to be kept, performed or observed by the Authority (other than as provided in clause (i) above or clause (iii), (iv) or (v) below) if (A) such failure is not remedied by the Authority within thirty (30) days after written notice from StadCo of such default or (B) in the case of any such default that cannot with due diligence and in good faith be cured within thirty (30) days, the Authority fails to commence to cure such default within thirty (30) days after written notice from StadCo of such default or the Authority fails to prosecute diligently the cure of such default to completion within such additional period as may be reasonably required to cure such default with diligence and in good faith; it being intended that, in connection with any such default which is not susceptible of being cured with due diligence and in good faith within thirty (30) days, the time within which the Authority is required to cure such default shall be extended for such additional period as may be necessary for the curing thereof with due diligence and in good faith;
(iii) the material breach of any representation or warranty made in this Agreement by the Authority and such breach is not remedied within thirty (30) days after StadCo gives Notice to the Authority of such breach which would have a material adverse effect on the ability of the Authority to perform its obligations under this Agreement;
(iv) if any default by the Authority under any of the other Project Documents shall have occurred and the same remains uncured after the lapse of the applicable notice and cure period, if any, provided for under the terms of such other Project Document; or
(v) if the Authority defaults under or otherwise fails to comply with the terms of a decision rendered pursuant to the Regular Arbitration and the same remains uncured for more than thirty (30) days after StadCo gives the Authority notice of such default or fai...
Authority Default. The occurrence of the following shall be an “Event of Default” by the Authority or an “Authority Event of Default”:
Authority Default. Subject to Section 5.2, the Authority shall be in default of this Agreement if the Authority fails to perform any of its obligations hereunder after the Authority has received thirty (30) days’ notice of such default, provided that if such failure cannot be remedied within such thirty (30) day period, the Authority shall not be in default if it commences to remedy the default and diligently pursues the remedy to its completion.
Authority Default. 12.6.1 The following events shall be an Authority Default:
12.6.1.1 not funding or reimbursing Allowable Costs or Trading Costs (except to the extent that such Costs are treated as Disallowable Costs in accordance with this Contract); or
12.6.1.2 failing to make any undisputed payment of Incentive Fee to the Contractor in accordance with Clauses 6.11.3 and 6A.11.5 (Performance Based Incentive Arrangements),
12.6.1.3 in each case within thirty (30) Calendar Days of such sum(s) being due and payable; and
12.6.1.4 a material breach by the Authority of its obligations under this Contract which materially and substantially prevents the performance of the Contractor’s obligations under this Contract.
Authority Default. Authority will be deemed to be in default under this Agreement should any one or more of the following events occur at any time:
15.1.1. Failure of Authority to materially and timely comply with and perform each of Authority’s obligations set forth in this Agreement.
15.1.2. If any representation or warranty made by Authority in this Agreement or subsequently made by Authority in any written statement or document furnished to any Developer Party and related to the transactions contemplated by this Agreement is false, incomplete, inaccurate or misleading in any material respect.
15.1.3. If any report, certificate or other document or instrument furnished to any Developer Party by or on behalf of Authority in relation to the transactions contemplated by this Agreement is false, inaccurate or misleading in any material respect.
Authority Default. Each of the following events, shall for the purposes of this Contract constitute an Authority Default:
(a) an expropriation, sequestration or requisition of a material part of the Assets and/or shares of the Service Provider by the Authority or other Relevant Authority;
(b) a failure by the Authority to make payment of any amount of money exceeding two hundred thousand pounds (£200,000) (indexed) that is due and payable by the Authority under this Contract within twenty (20) Business Days of service of a formal written demand by the Service Provider, where that amount fell due and payable two
Authority Default. If the Authority fails to pay the Fund an undisputed payment when due in accordance with Clause Error! Reference source not found. (Invoices), the Fund shall notify the Authority in writing of such failure to pay. If the Authority fails to pay such undisputed payment within ninety (90) Working Days of the date of such written notice, the Fund may terminate the Contract in writing with immediate effect, save that such right of termination shall not apply where the failure to pay is due to the Authority exercising its rights under Clause 12.1 (Recovery of Sums Due).
Authority Default. In the event Company gives Authority a Default Notice pursuant to Section 8.03 of the occurrence of an Authority Default, and such Authority Default is not cured within the period set forth therein, then Company may terminate this Agreement.
Authority Default. In the event the Authority will be in default in the performance of any obligation on its part to be performed under the terms of this Site Lease, which default continues for 30 days following notice and demand for correction thereof from the City or the Bank, to the Authority, the City may, with the consent of the Bank, exercise any and all remedies granted by law, except that no merger of this Site Lease and of the Sublease will be deemed to occur as a result thereof; provided, however, that so long City’s obligations under the Lease Documents remain unpaid, the City will have no power to terminate this Site Lease by reason of any default on the part of the Authority.
Authority Default. Notwithstanding any other clause in this Agreement, Suffolk Libraries shall have the right to terminate this Agreement, for whatever reason, on the provision of at least one months’ notice to expire at any time on or before 31st March 2013.
