Common use of By the ESCO Clause in Contracts

By the ESCO. Each of the following events or conditions shall constitute an "Event of Default" by ESCO: (1) any representation or warranty furnished by ESCO in this Agreement was false or misleading in any material respect when made; (2) any material failure by ESCO to perform or comply with the terms and conditions of this Agreement, including breach of any covenant contained herein except that such failure, if corrected or correction begun within thirty (30) days after written notice by the ISSUER to ESCO demanding that such failure to perform be cured, shall be deemed cured for purposes of this Agreement if completed within a reasonable period of time; provided that the operation of the Premises shall not be materially adversely affected (other than temporary conditions arising from ESCO’s efforts to cure any such breach or failure) and provided further that, unless approved in writing by ISSUER, ESCO shall not have the right to change the standards of comfort (except as may otherwise be permitted in this Agreement) to avoid or cure an Event of Default by ESCO; (3) any lien or encumbrance is placed upon the Equipment by any subcontractor, laborer, supplier or lender of ESCO and not paid or bonded over within thirty (30) business days after the ESCO receives written notice thereof; (4) the filing of a bankruptcy petition whether by ESCO or its creditors against ESCO which proceeding shall not have been dismissed within ninety (90) days of its filing, or an involuntary assignment for the benefit of all creditors or the liquidation of ESCO; (5) Any change in ownership or control of ESCO that results in ESCO not being qualified to do business in North Carolina; or (6) failure by ESCO to pay any amount due ISSUER, including any amount owed by ESCO to ISSUER under the terms hereof, for more than thirty (30) days after written notice by ISSUER that the ESCO is delinquent in making payment and provided that no ISSUER Event of Default, as provided in Section (dd)(i) hereof, has occurred and is continuing at such time.

By the ESCO. Each of the following events or conditions shall constitute an "Event of Default" by ESCO: (1) : any representation or warranty furnished by ESCO in this Agreement was false or misleading in any material respect when made; (2) ; any material failure by ESCO to perform or comply with the terms and conditions of this Agreement, including breach of any covenant contained herein except that such failure, if corrected or correction begun within thirty (30) days after written notice by the ISSUER to ESCO demanding that such failure to perform be cured, shall be deemed cured for purposes of this Agreement if completed within a reasonable period of time; provided that the operation of the Premises shall not be materially adversely affected (other than temporary conditions arising from ESCO’s efforts to cure any such breach or failure) and provided further that, unless approved in writing by ISSUER, ESCO shall not have the right to change the standards of comfort (except as may otherwise be permitted in this Agreement) to avoid or cure an Event of Default by ESCO; (3) ; any lien or encumbrance is placed upon the Equipment by any subcontractor, laborer, supplier or lender of ESCO and not paid or bonded over within thirty (30) business days after the ESCO receives written notice thereof; (4) ; the filing of a bankruptcy petition whether by ESCO or its creditors against ESCO which proceeding shall not have been dismissed within ninety (90) days of its filing, or an involuntary assignment for the benefit of all creditors or the liquidation of ESCO; (5) ; Any change in ownership or control of ESCO that results in ESCO not being qualified to do business in North Carolina; or (6) or failure by ESCO to pay any amount due ISSUER, including any amount owed by ESCO to ISSUER under the terms hereof, for more than thirty (30) days after written notice by ISSUER that the ESCO is delinquent in making payment and provided that no ISSUER Event of Default, as provided in Section (dd)(i) hereof, has occurred and is continuing at such time.