Breach and Default. 7.6.1 No Breach of this Agreement shall exist where such failure to discharge an obligation (other than the payment of money) is the result of a Force Majeure Event or the result of an act or omission of the other Parties. Upon a Breach, the non-breaching Party shall give written notice of such Breach to the Breaching Party. Except as provided in article 7.6.2, the Breaching Party shall have 60 calendar days from receipt of the Breach notice within which to cure such Breach; provided however, if such Breach is not capable of cure within 60 calendar days, the Breaching Party shall commence such cure within 20 calendar days after notice and continuously and diligently complete such cure within six months from receipt of the Breach notice; and, if cured within such time, the Breach specified in such notice shall cease to exist.
Breach and Default. 7.6.1 No Breach of this Agreement shall exist where such failure to discharge an obligation (other than the payment of money) is the result of a Force Majeure event or the result of an act or omission of the other Parties, provided that a Breach of this Agreement by the Interconnection Customer or Niagara Wind Power shall not be excused by the act or omission of the other. Upon a Breach, the non-breaching Party shall give written notice of such Breach to the Breaching Party. Except as provided in article 7.6.2, the Breaching Party shall have 60 calendar days from receipt of the Breach notice within which to cure such Breach; provided however, if such Breach is not capable of cure within 60 calendar days, the Breaching Party shall commence such cure within 20 calendar days after notice and continuously and diligently complete such cure within six months from receipt of the Breach notice; and, if cured within such time, the Breach specified in such notice shall cease to exist.
Breach and Default. 23 5.1 Events of Default 23 5.2 Rights Upon Default 25 5.3 Damages Resulting From an Event of Default 26 5.4 Declaration of an Early Termination Date and Calculation of Settlement Amount and Termination Payment 29 5.5 Step-up Provision 32 5.6 Setoff of Payment Obligations of The Non-Defaulting Party 33 5.7 Preservation of Rights of Non-Defaulting Party 33 ARTICLE 6: CREDITWORTHINESS 33 6.1 Applicability 33 6.2 Creditworthiness Determination 34 6.3 Independent Credit Requirement 34 6.4 Independent Credit Threshold 35 6.5 Mark-to-Market Credit Exposure Methodology 40
Breach and Default. 26 5.1 Events of Default 26 5.2 Rights upon Default 29 5.3 Damages Resulting From an Event of Default 30
Breach and Default. 31 7.1 Events of Default 31 7.2 Remedies Upon an Event of Default 33 7.3 Default Damages; Settlement Amount; Termination Payment 34 7.4 SSO Supplier Right to Assume 36 7.5 Setoff of Payment Obligations of the Non-Defaulting Party 36 7.6 Preservation of Rights of Non-Defaulting Party 37
Breach and Default. 15 7.1. Breach 15 7.2. Default 15 7.3. Remedies 16
Breach and Default. 36 5.1 Events of Default 36 5.2 Rights upon Default 40 5.3 Damages Resulting From an Event of Default 41 5.4 Declaration of an Early Termination Date and Calculation of Settlement Amount and Termination Payment 45 5.5 Step-Up Provision 48 5.6 Setoff of Payment Obligations of the Non-Defaulting Party 50 5.7 Preservation of Rights of Non-Defaulting Party 51 ARTICLE 6 CREDITWORTHINESS 52 6.1 Applicability 52 6.2 Creditworthiness Determination 52 6.3 Credit Exposure 53
Breach and Default. 34 5.1 Events of Default 34 5.2 Rights Upon Default 36 5.3 Damages Resulting from an Event of Default 37 5.3.a BGS-FP Supplier’s Failure to Supply BGS-FP Supply or Declaration of Early Termination by the Companies 37 5.3.b Damages 37 5.3.c Failure By the Companies to Accept BGS-FP Supply Tendered by the BGS-FP Supplier 38 5.3.d Damages Resulting from Early Termination due to an Event of Default Attributable to the Companies 39 5.3.e Other Damages 39 5.4 Calculation of Settlement Amount and Termination Payment 39 5.4.a Settlement Amount 39 5.4.b Net Out of Settlement Amounts 39 5.4.c Notice of Termination Payment 40 5.4.d Disputes with Respect to Termination Payment 41 5.4.e Multiple BGS Service Agreements 41 5.4.f Reliance on Netting 41 5.5 Setoff of Payment Obligations of the Non-Defaulting Party. 42 5.6 Preservation of Rights of the Non-Defaulting Party 42 5.7 Forward Contract Merchant 43 5.8 Integrated Transaction 43 ARTICLE 6. CREDITWORTHINESS 43 6.1 Applicability 43 6.2 Creditworthiness Determination 43 6.3 MtM Exposure Amount Methodology 44 6.4 Credit Limit 44
Breach and Default. 24 5.1 Events of Default 24 5.2 Rights Upon Default 27
Breach and Default. A breach of this Agreement (“Breach”) shall occur upon the failure of a Party to perform or observe any material term or condition of this Agreement. Upon a Breach by one Party, the non-breaching Party shall give written notice of such Breach to the breaching Party. The Party in Breach shall have thirty (30) days from the date of the written notice to cure the Breach. If a Breach is not cured within the thirty (30) day period provided for herein, the party in Breach shall be deemed in default (“Default”). The non-defaulting Party shall then have the right to terminate this Agreement by written notice, shall be relieved of any further obligations hereunder, and may pursue any and all remedies available to it at law or in equity.
