Common use of Customer Event of Default Clause in Contracts

Customer Event of Default. Without prejudice to any other rights and remedies of PLL under this Agreement or at law, PLL may terminate this Agreement by serving a prior 7 Days written notice to the Customer upon the occurrence of any of the following events (“Customer Default”): (a) the Customer: (i) any assignment or transfer of rights and obligations under this Agreement in violation of the terms of this Agreement. (ii) the occurrence of any of the following events: (i) the passing of a resolution by the shareholders of the Customer for winding up, (ii) the appointment of a provisional liquidator in case of bankruptcy adjudged by a court of competent jurisdiction, which appointment has not been set aside or stayed within ninety (90) days of such appointment, or (iii) the making of an order winding up the Customer by a court of competent jurisdiction; and (iii) any statement, representation or warranty made by the Customer herein proving to have been incorrect, in any respect, when made or when deemed to have been made and the circumstances that cause such failure or incorrect statement, representation or warranty to be incorrect having a material adverse effect the Customer’s ability to perform its obligations under this Agreement. (iv) any material breach by the Customer of this Agreement including due to failure to supply LNG or unreasonable delay in supply of LNG or persistent failure to off-take RLNG or delivery of off-spec LNG that leads to failure to supply LNG which is not remedied within thirty (30) days after notice from the PLL, which notice (i) states that a material breach of this Agreement has occurred and is continuing which could result in the termination of this Agreement, (ii) identifies the breach in question in reasonable detail, and (iii) demands remedy thereof. Material breaches by the Customer include but are not limited to: (A) Failure to supply LNG as per Schedule 1 (Inventory Management); (B) Delay in supplying LNG as per Schedule 1 (Inventory Management); (C) Delivery of off-spec LNG that may be consider a failure to supply LNG by PLL; (D) Persistent failure to off-take RLNG; and (E) Failure to provide the written confirmation from SSGC and SNGPL as per Section 17.3. (v) the revocation, withdrawal, or cancellation of regulatory approvals and/or licenses required by the Customer, under the laws of Pakistan, to fulfil its obligations under this Agreement. (b) the Customer fails to comply with its obligations to maintain or replace the Security Deposit or fails to perform any obligation under this Agreement regarding the Security Deposit; (c) the SBLCs expires or terminates or ceases to be in full force and effect for the purpose of this Agreement or is not maintained by the Customer prior to the satisfaction of all obligations of the Customer under this Agreement without the prior written consent of PLL and no replacement security acceptable to PLL on the same or substantially similar terms and for an equivalent outstanding value to the affected Security Deposit has been issued by the Customer at least ten (10) Business Days prior to the relevant expiry date or within five (5) Business Days of the occurrence of such termination or invalidity; (d) any representation or warranty made in Clause 27.2 proves to have been: (i) false in any material respect; or (ii) misleading in any material respect, at the time it was made unless the circumstances giving rise to the misrepresentation: (iii) are capable of remedy; and (iv) are remedied within thirty (30) Days from PLL giving notice of the misrepresentation; (e) any sum due by the Customer to PLL are outstanding and unpaid by the due date for payment, and such payment default is not cured within thirty (30) Days after the giving by PLL of notice of such default to the Customer; (f) the Customer commits a material or persistent breach of any of its other obligations under this Agreement which is not capable of being cured. (g) termination of the RLNG transportation arrangements from the RLNG Delivery Point of the Customer

Customer Event of Default. Without prejudice to any other rights and remedies of PLL under this Agreement or at law, PLL may terminate this Agreement by serving a prior 7 Days [] Day written notice to the Customer upon the occurrence of any of the following events (“Customer Default”): (a) the Customer: (i) any assignment or transfer of rights and obligations under this Agreement in violation of the terms of this Agreement. (ii) the occurrence of any of the following events: (i) the passing of a resolution by the shareholders of the Customer for winding up, (ii) the appointment of a provisional liquidator in case of bankruptcy adjudged by a court of competent jurisdiction, which appointment has not been set aside or stayed within ninety (90) days of such appointment, or (iii) the making of an order winding up the Customer by a court of competent jurisdiction; and (iii) any statement, representation or warranty made by the Customer herein proving to have been incorrect, in any respect, when made or when deemed to have been made and the circumstances that cause such failure or incorrect statement, representation or warranty to be incorrect having a material adverse effect the Customer’s ability to perform its obligations under this Agreementthe GSA. (iv) any material breach by the Customer of this Agreement including due to failure to supply LNG or unreasonable delay in supply of LNG or persistent failure to off-take RLNG or delivery of off-spec LNG that leads to failure to supply LNG which is not remedied within thirty (30) days after notice from the PLL, which notice (i) states that a material breach of this Agreement has occurred and is continuing which could result in the termination of this Agreement, (ii) identifies the breach in question in reasonable detail, and (iii) demands remedy thereof. Material breaches by the Customer include but are not limited to: (A) Failure to supply LNG as per Schedule 1 (Inventory Management)1; (B) Delay in supplying LNG as per Schedule 1 (Inventory Management)1; (C) Delivery of off-spec LNG that may be consider a failure to supply LNG by PLL;; and (D) Persistent failure to off-take RLNG; and (E) Failure to provide the written confirmation from SSGC and SNGPL as per Section 17.3. (v) the revocation, withdrawal, or cancellation of regulatory approvals and/or licenses licences required by the Customer, under the laws of Pakistan, to fulfil its obligations under this Agreement. (b) the Customer fails to comply with its obligations to maintain or replace the Security Deposit SBLC or fails to perform any obligation under this Agreement regarding the Security DepositSBLC; (c) the SBLCs SBLC expires or terminates or ceases to be in full force and effect for the purpose of this Agreement or is not maintained by the Customer prior to the satisfaction of all obligations of the Customer under this Agreement without the prior written consent of PLL and no replacement security acceptable to PLL on the same or substantially similar terms and for an equivalent outstanding value to the affected Security Deposit SBLC has been issued by the Customer at least ten (10) Business Days prior to the relevant expiry date or within five (5) Business Days of the occurrence of such termination or invalidity; (d) any representation or warranty made in Clause 27.2 [] proves to have been: (i) false in any material respect; or (ii) misleading in any material respect, at the time it was made unless the circumstances giving rise to the misrepresentation: (iii) are capable of remedy; and (iv) are remedied within thirty (30) Days from PLL giving notice of the misrepresentation; (e) any sum (or sums in aggregate) in excess of PKR [Insert] due by the Customer to PLL are outstanding and unpaid by the due date for payment, and such payment default is not cured within thirty (30) Days after the giving by PLL of notice of such default to the Customer; (f) the Customer commits a material or persistent breach of any of its other obligations under this Agreement which is not capable of being cured. (g) termination of the RLNG transportation arrangements from the RLNG Delivery Point of the Customer

Customer Event of Default. Without prejudice to any other rights and remedies of PLL under this Agreement or at law, PLL may terminate this Agreement by serving a prior 7 Days written notice to the Customer upon the occurrence of any of the following events (“Customer Default”): (a) the Customer: (i) any assignment or transfer of rights and obligations under this Agreement in violation of the terms of this Agreement. (ii) the occurrence of any of the following events: (i) the passing of a resolution by the shareholders of the Customer for winding up, (ii) the appointment of a provisional liquidator in case of bankruptcy adjudged by a court of competent jurisdiction, which appointment has not been set aside or stayed within ninety (90) days of such appointment, or (iii) the making of an order winding up the Customer by a court of competent jurisdiction; and (iii) any statement, representation or warranty made by the Customer herein proving to have been incorrect, in any respect, when made or when deemed to have been made and the circumstances that cause such failure or incorrect statement, representation or warranty to be incorrect having a material adverse effect the Customer’s ability to perform its obligations under this Agreement. (iv) any material breach by the Customer of this Agreement including due to failure to supply LNG or unreasonable delay in supply of LNG or persistent failure to off-take RLNG or delivery of off-spec LNG that leads to failure to supply LNG which is not remedied within thirty (30) days after notice from the PLL, which notice (i) states that a material breach of this Agreement has occurred and is continuing which could result in the termination of this Agreement, (ii) identifies the breach in question in reasonable detail, and (iii) demands remedy thereof. Material breaches by the Customer include but are not limited to: (A) Failure to supply LNG as per Schedule 1 (Inventory Management); (B) Delay in supplying LNG as per Schedule 1 (Inventory Management); (C) Delivery of off-spec LNG that may be consider a failure to supply LNG by PLL;; and (D) Persistent failure to off-take RLNG; and (E) Failure to provide the written confirmation from SSGC and SNGPL as per Section 17.3. (v) the revocation, withdrawal, or cancellation of regulatory approvals and/or licenses licences required by the Customer, under the laws of Pakistan, to fulfil its obligations under this Agreement. (b) the Customer fails to comply with its obligations to maintain or replace the Security Deposit SBLC or fails to perform any obligation under this Agreement regarding the Security DepositSBLC; (c) the SBLCs SBLC expires or terminates or ceases to be in full force and effect for the purpose of this Agreement or is not maintained by the Customer prior to the satisfaction of all obligations of the Customer under this Agreement without the prior written consent of PLL and no replacement security acceptable to PLL on the same or substantially similar terms and for an equivalent outstanding value to the affected Security Deposit SBLC has been issued by the Customer at least ten (10) Business Days prior to the relevant expiry date or within five (5) Business Days of the occurrence of such termination or invalidity; (d) any representation or warranty made in Clause 27.2 proves to have been: (i) false in any material respect; or (ii) misleading in any material respect, at the time it was made unless the circumstances giving rise to the misrepresentation: (iii) are capable of remedy; and (iv) are remedied within thirty (30) Days from PLL giving notice of the misrepresentation; (e) any sum due by the Customer to PLL are outstanding and unpaid by the due date for payment, and such payment default is not cured within thirty (30) Days after the giving by PLL of notice of such default to the Customer; (f) the Customer commits a material or persistent breach of any of its other obligations under this Agreement which is not capable of being cured. (g) termination of the RLNG transportation arrangements from the RLNG Delivery Point of the Customer