Common use of Breach of Terms of Financing Documents Clause in Contracts

Breach of Terms of Financing Documents. (i) Such Project Company shall fail to perform or observe any of the covenants set forth in Section 3.1 (Use of Proceeds and Revenues), 3.6(a) (Maintenance of Existence and Business), 3.10 (Insurance), 3.18 (Energy Marketing Services Parameter) or Article 5 (other than Section 5.6(b) (Investments), 5.9 (ERISA), 5.13 (Name Change, etc.) or 5.18 (Hazardous Substances)); provided that in the case where such Project Company's failure to perform or observe the covenants set forth in Section 3.1 is not an intentional failure, such failure shall not become a Project Event of Default unless such Project Company does not cure such failure within three Business Days after the occurrence of such failure. (ii) Such Project Company shall fail to perform or observe any of the covenants or other agreements set forth hereunder or in any other Financing Document which are not otherwise specifically provided for in Section 7.2(f)(i) or elsewhere in this Section 7.2 and such failure shall not be susceptible of cure or, if susceptible of cure, shall continue unremedied for a period of 30 days after such Project Company becomes aware thereof or receives written notice thereof from, or on behalf of, the Controlling Party; provided, however, if (A) such failure does not consist of a failure to pay money and cannot be cured within such 30-day period, (B) such failure is susceptible of cure 42 within 90 days, (C) such Project Company is proceeding with diligence and in good faith to cure such failure, (D) the existence of such failure has not had and, after considering the nature of the cure, could not be reasonably expected to have, a Project Material Adverse Effect, and (E) the Controlling Party and the Collateral Agent shall have received an officer's certificate signed by a Responsible Officer of such Project Company, in such Responsible Officer's capacity as an officer of such Project Company, to the effect of clauses (A), (B), (C) and (D) above and stating what action such Project Company is taking to cure such failure, then such 30-day cure period shall be extended to such date, not to exceed a total of 90 days, as shall be necessary for such Project Company diligently to cure such failure.

Breach of Terms of Financing Documents. (i) Such Project Company shall fail to perform or observe any of the covenants set forth in Section 3.1 (Use of Proceeds and Revenues), 3.6(a) (Maintenance of Existence and Business), 3.10 (Insurance), 3.18 (Energy Marketing Services Parameter) or Article 5 (other than Section 5.6(b) (Investments), 5.9 (ERISA), 5.13 (Name Change, etc.) or 5.18 (Hazardous Substances)); provided that in the case where such Project Company's failure to perform or observe the covenants set forth in Section 3.1 is not an intentional failure, such failure shall not become a Project Event of Default unless such Project Company does not cure such failure within three Business Days after the occurrence of such failure. (ii) Such Project Company The Issuer shall fail to perform or observe any of the covenants or other agreements set forth hereunder in Sections 2.1 (Use of Proceeds and Revenues), 2.6(a)(i) and (c) (Existence, Conduct of Business, etc.), or Article 4 (other than Section 4.6 (Investments), 4.8 (ERISA), 4.10 (Accounts) and 4.11 (Name and Location; Fiscal Year)). (ii) The Issuer shall fail to perform or observe any of the covenants or other agreements set forth in any other the Financing Document Documents which are not otherwise specifically provided for in Section 7.2(f)(i7.1(g)(i) or elsewhere in this Section 7.2 7.1 and such failure shall not be susceptible of cure or, if susceptible of cure, shall continue unremedied for a period of 30 days after such Project Company the Issuer becomes aware thereof or receives written notice thereof from, or on behalf of, from the Controlling Party; provided, however, if (A) such failure does not consist of a failure to pay money and cannot be cured within such 30-30 day period, (B) such failure is susceptible of cure 42 within 90 days, (C) such Project Company the Issuer is proceeding with diligence and in good faith to cure such failure, (D) the existence of such failure has not had and, after considering the nature of the cure, could not reasonably be reasonably expected to have, a Project have an Issuer Material Adverse Effect, and (E) the Controlling Party and the Collateral Agent shall have received an officer's certificate signed by a Responsible Officer of such Project Company, in such Responsible Officer's capacity as an officer of such Project Company, the Issuer to the effect of clauses (A), (B), (C) and (D) above and stating what action such Project Company the Issuer is taking to cure such failure, then such 30-30 day cure period shall be extended to such date, not to exceed a total of 90 days, as shall be necessary for such Project Company the Issuer diligently to cure such failure.

Breach of Terms of Financing Documents. (i) Such Project Company shall fail to perform or observe any of the covenants set forth in Section 3.1 (Use of Proceeds and Revenues), 3.6(a) (Maintenance of Existence and Business), 3.10 (Insurance), 3.18 (Energy Marketing Services Parameter) or Article 5 (other than Section 5.6(b) (Investments), 5.9 (ERISA), 5.12 (Accounts), 5.13 (Name Change, etc.) or 5.18 (Hazardous Substances)); provided that in the case where such Project Company's failure to perform or observe the covenants set forth in Section 3.1 is not an intentional failure, such failure shall not become a Project Event of Default unless such Project Company does not cure such failure within three Business Days after the occurrence of such failure. (ii) Such Project Company shall fail to perform or observe any of the covenants or other agreements set forth hereunder or in any other Financing Document which are not otherwise specifically provided for in Section 7.2(f)(i) or elsewhere in this Section 7.2 and such failure shall not be susceptible of cure or, if susceptible of cure, shall continue unremedied for a period of 30 days after such Project Company becomes aware thereof or receives written notice thereof from, or on behalf of, the Controlling Party; provided, however, if (A) such failure does not consist of a failure to pay money and cannot be cured within such 30-day period, (B) such failure is susceptible of cure 42 within 90 days, (C) such Project Company is proceeding with diligence and in good faith to cure such failure, (D) the existence of such failure has not had and, after considering the nature of the cure, could not be reasonably expected to have, a Project Material Adverse Effect, and (E) the Controlling Party and the Collateral Agent shall have received an officer's certificate signed by a Responsible Officer of such Project Company, in such Responsible Officer's capacity as an officer of such Project Company, Company to the effect of clauses (A), (B), (C) and (D) above and stating what action such Project Company is taking to cure such failure, then such 30-day cure period shall be extended to such date, not to exceed a total of 90 days, as shall be necessary for such Project Company diligently to cure such failure.

Breach of Terms of Financing Documents. (i) Such Project Company shall fail to perform or observe any of the covenants set forth in Section 3.1 (Use of Proceeds and Revenues), 3.6(a) (Maintenance of Existence and Business), 3.10 (Insurance), 3.18 (Energy Marketing Services Parameter) or Article 5 (other than Section 5.6(b) (Investments), 5.9 (ERISA), 5.13 (Name Change, etc.) or 5.18 (Hazardous Substances)); provided that in the case where such Project Company's failure to perform or observe the covenants set forth in Section 3.1 is not an intentional failure, such failure shall not become a Project Event of Default unless such Project Company does not cure such failure within three Business Days after the occurrence of such failure. (ii) Such Project Company The Issuer shall fail to perform or observe any of the covenants or other agreements set forth hereunder in Sections 2.1 (Use of Proceeds and Revenues), 2.6(a)(i) and (c) (Existence, Conduct of Business, etc.), or Article 4 (other than Section 4.6 (Investments), 4.8 (ERISA), 4.10 (Accounts) and 4.11 (Name and Location; Fiscal Year)). (ii) The Issuer shall fail to perform or observe any of the covenants or other agreements set forth in any other the Financing Document Documents which are not otherwise specifically provided for in Section 7.2(f)(i7.1(g)(i) or elsewhere in this Section 7.2 7.1 and such failure shall not be susceptible of cure or, if susceptible of cure, shall continue unremedied for a period of 30 days after such Project Company the Issuer becomes aware thereof or receives written notice thereof from, or on behalf of, from the Controlling Party; provided, however, if (A) such failure does not consist of a failure to pay money and cannot be cured within such 30-30 day period, (B) such failure is susceptible of cure 42 within 90 days, (C) such Project Company the Issuer is proceeding with diligence and in good faith to cure such failure, (D) the existence of such failure has not had and, after considering the nature of the cure, could not reasonably be reasonably expected to have, a Project have an Issuer Material Adverse Effect, and (E) the Controlling Party and the Collateral Agent shall have received an officer's certificate signed by a Responsible Officer of such Project Companythe Issuer, in such Responsible Officer's capacity as an officer of such Project Companythe Issuer, to the effect of clauses (A), (B), (C) and (D) above and stating what action such Project Company the Issuer is taking to cure such failure, then such 30-30 day cure period shall be extended to such date, not to exceed a total of 90 days, as shall be necessary for such Project Company the Issuer diligently to cure such failure.