Availability Default and Termination Sample Clauses

Availability Default and Termination. ASPA shall calculate the Availability of the Facility as soon as reasonably practicable at the end of each rolling six (6) Month period during the Term of the Agreement beginning with the Commercial Operation Date (the "Availability Measurement Period"). In the event that the Availability of the Facility during any Availability Measurement Period falls below percent ( %), it shall constitute an "Availability Default." Upon the Occurrence of an Availability Default, ASPA may provide Seller with written Notice of its intent to terminate the Agreement. On or before the fourteenth (14th) calendar day following its receipt of such Notice, Seller shall provide ASPA with a written plan, acceptable to ASPA in form and substance, for curing its failure to meet its Availability obligations set forth herein (a “Cure Plan”). The Cure Plan must specify in reasonable detail Seller’s analysis of the cause(s) of the unavailability, the action(s) that Seller plans to take to correct such underperformance, and the time needed to complete such corrective action(s). Seller shall undertake any and all corrective action in a Commercially Reasonable manner and shall complete all such corrective action as soon as is commercially practicable. In no event shall such corrective action take longer than sixty (60) days to complete. Notwithstanding anything in this provision to the contrary, in the event that Seller does not timely submit a Cure Plan, or the Cure Plan is not acceptable to ASPA in form and substance, then ASPA may immediately terminate the Agreement upon written Notice to Seller. Promptly upon completing its corrective action, Seller shall provide Notice to ASPA of the same. Beginning on the date of such notification, the next Availability Measurement Period shall begin. If the Facility fails to achieve the Guaranteed Availability over the term of the subsequent Availability Measurement Period, ASPA shall have the right to immediately terminate this Agreement upon written Notice to Seller and shall be entitled to all of the rights and remedies associated with such termination as set forth in this Article Four. Seller shall be entitled to exercise its Cure Plan rights no more than two (2) times during the Term of this Agreement and there shall be a minimum of twelve (12) Months between Cure Plans.
Sample 1
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Related to Availability Default and Termination

  • Default and Termination A. In the event of substantial failure by PROVIDER to perform in accordance with the terms hereof, A&M System may terminate this Agreement upon fifteen (15) days written notice of termination setting forth the nature of the failure (the termination shall not be effective if the failure is fully cured prior to the end of the fifteen-day period), provided that said failure is through no fault of A&M System.

  • H DEFAULT, DISRUPTION AND TERMINATION H1 Termination on insolvency and change of control H1.1 The Client may terminate the Contract with immediate effect by notice in writing where the Contractor is a company and in respect of the Contractor:

  • Events of Default and Termination 13.1 If:

  • Default, Disruption and Termination H1 Termination on Change of Control and Insolvency H2 Termination on Default H3 Break H4 Consequences of Termination H5 Disruption H6 Recovery upon Termination H7 Force Majeure

  • Default Events and Termination 18.1 Each of the following circumstances shall constitute a General Default:

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately.

  • Performance Default and Remedies Subsection B. DEFAULT AND REMEDIES, second paragraph of the Contract is modified as follows (underlined language is added and stricken language is deleted): “Written notice of default and a reasonable 30-day opportunity to cure must be issued by the party claiming default.”

  • Termination and Default Either party, upon determination that the other party has failed or refused to perform or is otherwise in breach of any obligation or provision under this Agreement or the Contract Document, may give written notice of default to the defaulting party in the manner specified for the giving of notices herein. Termination of this Agreement by either party for any reason shall have no effect upon the rights or duties accruing to the parties prior to termination.

  • Default and Breach If either Party defaults in the payment of any amount due hereunder, or if either Party violates any other material provision of this Agreement and such default or violation continues for thirty (30) Days after written notice thereof, the other Party may terminate this Agreement and seek relief in accordance with any remedy available under this Agreement, including without limitation, the Dispute Resolution provisions of Section 25 herein and, in addition to the foregoing, Qwest may cease to accept orders from CLEC for Services in accordance with Section 8.2 above. The remedies available to each Party pursuant to this Agreement are not to be considered exclusive of one another and will be cumulative.

  • Default Remedies Termination A. [Sec. 400]

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