Common use of Authority Default Clause in Contracts

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 failure to comply.

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 failure to comply.

Authority Default. The occurrence of the following shall be an “Event of Default” by the Authority or an “Authority Default”:Event of Default”:‌ (i) the failure of the Authority to pay any payments due to StadCo when due and payable under this Agreement or when due and payable under the terms of any 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) belowabove) if (A1) such failure is not remedied by the Authority within thirty (30) days after written notice from StadCo of such default or (B2) 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 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 Alternative Dispute Resolution Procedures and the same remains uncured for more than thirty (30) days after StadCo gives the Authority notice of such default or failure to comply.

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 If (other than as provided a result of a breach by the Supplier of any Applicable Law and/or any of the obligations of the Supplier under this Agreement) the Authority is in clause breach of its obligations under this Agreement which results in a Transfer Failure, then: the Authority shall use its reasonable endeavours to remedy (iand to procure that the Generator remedies) above or clause the Transfer Failure within 30 Working Days of the relevant Transfer Failure occurring (iiiand the Supplier shall provide the Authority all reasonable assistance requested of it in relation thereto), (iv) or (v) below) if (A) such failure ; and where the Transfer Failure is not remedied (in whole or in part) within such 30 Working Days period (other than as a result of a breach by the Authority within thirty (30) days after written notice from StadCo of such default or (B) in the case Supplier 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 Applicable Law and/or any 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; ), the Authority shall compensate the Supplier by paying to the Supplier for each Benefit the subject of the Transfer Failure and which has not been Transferred within the above 30 Working Days (iv) if any default which compensation will be included in the next Monthly Statement to be produced thereafter (or, where no such statement is due to be produced, which may be invoiced separately by the Authority Supplier)): (in respect of a Relevant LEC) the CCL Rate (applicable to the period in respect of which the Transfer Failure occurred), less the amount that would have been payable by the Supplier under any this Agreement for such Relevant LEC had it been Transferred in accordance with this Agreement; (in respect of a Relevant ROC) the amount of the other Project Documents shall have occurred Buy-Out Price, the Buy-Out Fund Payment, the Late Payment Fund Payment and the same remains uncured after Mutualisation Fund Payment (applicable to the lapse Obligation Period in respect of which the Transfer Failure occurred), less the amount that would have been payable by the Supplier under this Agreement for such Relevant ROC had it been Transferred in accordance with this Agreement; (in respect of a Relevant XXXX) the value of the relevant XXXX Payment (applicable notice to the period in respect of which the Transfer Failure occurred), less the amount that would have been payable by the Supplier under this Agreement for such New Benefit had it been Transferred in accordance with this Agreement; 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 in respect of a decision rendered pursuant New Benefit) the New Benefit Value (applicable to the Regular Arbitration and period in respect of which the same remains uncured Transfer Failure occurred), less the amount that would have been payable by the Supplier under this Agreement for more than thirty (30) days after StadCo gives the Authority notice of such default or failure to complyNew Benefit had it been Transferred in accordance with this Agreement.

Authority Default. The occurrence of the following shall be an “Event of Default” by the Authority or an “Authority Event of Default”: (i) the failure of the Authority to pay any payments due to StadCo when due and payable under this Agreement or when due and payable under the terms of any 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) belowabove) if (A1) such failure is not remedied by the Authority within thirty (30) days after written notice from StadCo of such default or (B2) 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 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 Alternative Dispute Resolution Procedures and the same remains uncured uncurred for more than thirty (30) days after StadCo gives the Authority notice of such default or failure to comply.

Authority Default. The occurrence of the following shall be an “Event of Default” by the Authority or an “Authority Event of Default”: (i) the failure of the Authority to pay any payments due to StadCo when due and payable under this Agreement or when due and payable under the terms of any other Project Document if such failure continues for more than thirty (30) days after StadCo XxxxXx 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) belowabove) if (A1) such failure is not remedied by the Authority within thirty (30) days after written notice from StadCo of such default or (B2) 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 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 Alternative Dispute Resolution Procedures and the same remains uncured uncurred for more than thirty (30) days after StadCo gives the Authority notice of such default or failure to comply.

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 Stadium Lease or the Construction Funds Trust Agreement has 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; orthe applicable document; (v) if the Authority defaults under or otherwise fails to comply with the terms of a decision rendered pursuant to the Regular Arbitration arbitration in accordance Article 19 and the same remains uncured for more than thirty (30) days after StadCo gives the Authority notice of such default or failure to complycomply or the Authority fails to prosecute diligently compliance with such decision within such additional period as may be reasonably required to comply with such decision with diligence and in good faith; it being intended that, in connection with any such decision which is not susceptible of the Authority’s compliance with due diligence and in good faith within thirty (30) days, the time within which the Authority is required to comply with such decision shall be extended for such additional period as may be necessary for the curing thereof with due diligence and in good faith.

Authority Default. The occurrence of the following shall be an “Event of Default” by the Authority or an “Authority Default”:Event of Default”:‌ (i) the failure of the Authority to pay any payments due to StadCo when due and payable under this Agreement or when due and payable under the terms of any 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) belowabove) if (A1) such failure is not remedied by the Authority within thirty (30) days after written notice from StadCo of such default or (B2) 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 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 Alternative Dispute Resolution Procedures and the same remains uncured uncurred for more than thirty (30) days after StadCo gives the Authority notice of such default or failure to comply.

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;thirty (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;material (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 failure to comply.

Authority Default. The occurrence of the following shall be an “Event of Default” by the Authority or an “Authority Default”:Event of Default”:‌ (i) the failure of the Authority to pay any payments due to StadCo when due and payable under this Agreement or when due and payable under the terms of any 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) belowabove) if (A1) such failure is not remedied by the Authority within thirty (30) days after written notice from StadCo of such default or (B2) 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 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;; or (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 failure to comply.

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 clauses (iii), or (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 failure to comply.

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 XxxxXx 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 Stadium Lease or the Construction Funds Trust Agreement has 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; orthe applicable document; (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 failure to complycomply or the Authority fails to prosecute diligently compliance with such decision within such additional period as may be reasonably required to comply with such decision with diligence and in good faith; it being intended that, in connection with any such decision which is not susceptible of the Authority’s compliance with due diligence and in good faith within thirty (30) days, the time within which the Authority is required to comply with such decision shall be extended for such additional period as may be necessary for the curing thereof with due diligence and in good faith.