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:
(i) The Authority is in Material Breach of any of its obligations under this Agreement and has failed to cure such breach within 60 (sixty) days of receipt of notice thereof issued by the Developer;
(ii) The Authority has unlawfully repudiated this Agreement or otherwise expressed its intention not to be bound by this Agreement;
Authority Event of Default. In the event, Lessee has not committed Lessee Event of Default and NRANVP fails to provide the Leased Land free from encumbrances to the Lessee within 30 (Thirty) Business Days of registration of this Agreement, it shall be construed as event of default on the part of Authority (the "Authority Event of Default”); Upon occurrence of Authority Event of Default, the Lessee shall give NRANVP a notice to rectify such default. Upon expiry of 30 (thirty) Business Days from the date of receipt of the notice by the Authority, if the default is not rectified by the Authority, the Lessee shall be entitled to receive compensation from the Lessor as specified in Article 7.5.
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 Concessionaire Event of Default or Force Majeure Event:
(a.) Authority has failed to make any payments due to the Concessionaire and more than 90 (ninety) days have elapsed since such default;
(b.) Any of the PLBs or the Department or the PMU is in Material Breach of any of its obligations under this Agreement and have failed to cure such breach within 30 (thirty) days of receipt of notice thereof issued by the Concessionaire;
(c.) Any of the PLBs have unlawfully repudiated this Agreement or otherwise expressed its intention not to be bound by this Agreement;
(d.) Any of the PLBs have unreasonably withheld or delayed grant of any approval or permission within its respective jurisdictions and such delay and withholding is not attributable to Concessionaire or Force Majeure which the Concessionaire is obliged to seek under this Agreement, and thereby caused or likely to cause Material Adverse Effect;
(e.) Any representations made or warranties given by the PLBs under this Agreement have been found to be false or misleading.
Authority Event of Default. The Authority Event of Default means any of the following events unless such an event has occurred as a consequence of a Concessionaire Event of Default or a Force Majeure Event (the “Authority Event of Default”).
(i) The Authority’s repudiation or failure to perform or discharge any of its obligations in accordance with the provisions of this Agreement that has a Material Adverse Effect unless such failure has occurred as a consequence of a Concessionaire Event of Default or a Force Majeure Event;
(ii) Any representation made or warranties given by the Authority under this Agreement is found to be false or misleading; any defect in the Authority’s title, ownership and possession of the site.
Authority Event of Default. In the event, Lessee is not in default as per Article 6.1
(a) and NRANVP fails to provide the Leased Land free from encumbrances to the Lessee within 30 working days of Signing of this Agreement and fails to perform or discharge any of its obligations in accordance with the provisions of this Agreement, it shall be construed as event of default on the part of Authority (the "Authority Event of Default”); In any of the NRANVP Events of Default the Lessee shall give NRANVP a notice to rectify such default. Upon expiry of 30 (thirty) days from the date of receipt of the notice if the default is not rectified by NRANVP, shall give the compensation to the Lessee as specified in Article 6.5.
Authority Event of Default. BUYER RIGHTS AND REMEDIES In the event the Authority fails to deliver all Credits required to be delivered in accordance with the Payment Schedule set forth in Exhibit A, attached hereto, by 5:00 p.m. on the last day of October following the end of the applicable Compliance Year, it shall constitute an Event of Default by the Authority and the Buyer shall have the right to terminate the Buyer’s obligation to purchase the Credits the Authority has failed to deliver in accordance with the Payment Schedule for the prior Compliance Year only by providing written notice to the Authority. The Buyer shall not be entitled to terminate the Buyer’s obligation to purchase Credits in subsequent Compliance Years as set forth in Exhibit A.
Authority Event of Default. The occurrence of the following event shall constitute a default with respect to the Authority under this Agreement: failure by the Authority, in any material respect, to perform or comply with any of the other terms, covenants, agreements or conditions hereof and the continuance of such failure for more than sixty (60) days after notice thereof from Manager; provided that if such failure is not reasonably susceptible to being cured within the 60-day period, the Authority shall not be considered to be in default if the Authority shall within such 60-day period have commenced with due diligence and dispatch to cure such default and thereafter completes with dispatch and due diligence the curing of such default.
Authority Event of Default. The Authority Event of Default means any of the following events unless such an event has occurred as a consequence of an Licensee Event of Default or a Force Majeure Event (the “
Authority Event of Default. In the event, Lessee is not in default as per Article 7.1
(a) and NRDA fails to provide the Project Land free from encumbrances to the Lessee within 60 working days of Signing of this Agreement and fails to perform or discharge any of its obligations in accordance with the provisions of this Agreement, it shall be construed as event of default on the part of Authority (the "Authority Event of Default”); Provided that the events mentioned in this Article would not constitute NRDA Event of Default. If such event could be exclusively attributed to an event of Force Majeure In any of the NRDA Events of Default the Lessee shall give NRDA a notice to rectify such default. Upon expiry of 30 (thirty) days from the date of receipt of the notice if the default is not rectified by NRDA, shall give the compensation to the Lessee as specified in Article 7.5.
Authority Event of Default. 22.2.1 In the event that any of the defaults specified below shall have occurred, and the Authority fails to cure such default within a Cure Period of 90 (ninety) days or such longer period as has been expressly provided in this Agreement, the Authority shall be deemed to be in default of this Agreement (the “Authority Event of Default”) unless the default has occurred as a result of any breach of this Agreement by the Concessionaire or due to Force Majeure. The defaults referred to herein shall include: a the Authority commits a material default in complying with any of the provisions of this Agreement and such default has a Material Adverse Effect on the Concessionaire; b the Authority repudiates this Agreement or otherwise takes any action that amounts to or manifests an irrevocable intention not to be bound by this Agreement.
22.2.2 Without prejudice to any other right or remedy which the Concessionaire may have under this Agreement, upon occurrence of a Authority Event of Default, the Concessionaire shall, subject to the provisions of the Substitution Agreement, be entitled to terminate this Agreement by issuing a Termination Notice to the Authority; provided that before issuing the Termination Notice, the Concessionaire shall by a notice inform the Authority of its intention to issue the Termination Notice and grant 15 (fifteen) days to Authority to make a representation, and may after the expiry of such 15 (fifteen) days, whether or not it is in receipt of such representation, issue the Termination Notice.
