Common use of Breach of Project Documents Clause in Contracts

Breach of Project Documents. Subject to Section 10.1(h), Borrower or any Project Company (unless waived by the counterparty under the applicable Project Document) or any Major Project Participant shall be in breach of, or default under, any Project Document and any applicable cure period thereunder shall have expired with respect to such breach or default (or, if no cure period is stipulated for such breach or default, the cure period for such default shall be no longer than thirty (30) days) or if the giving of notice would allow Person to terminate such Project Document, and Administrative Agent shall have reasonably determined (with the consent of the Majority Lenders), and have sent a written notice to Borrower to that effect, that such breach or default could reasonably be expected to have a Material Adverse Effect; provided, however, that with respect to a breach or default by any Major Project Participant, if Borrower or any Affiliated Participant shall replace such Major Project Participant with a Replacement Obligor within sixty (60) days of such breach or default, such breach or default shall not be deemed a default under this Financing Agreement; provided, further, however, the Replacement Obligor and the form of such replacement agreement shall be in form and substance satisfactory to the Administrative Agent and the Lenders. For purposes of the foregoing, any cure by any Agent or any Lender on Borrower’s or any Project Company’s behalf with respect to a breach or default by Borrower or any Project Company under a Project Document shall not be considered a remedy under this Financing Agreement for any such breach or default of such Project Document.