Default by Company. Upon the occurrence of any of the following events, and except as is otherwise provided for in this Agreement, Company shall be deemed to be in default under this Agreement if:
A. The scheduled performance dates, including the Delivery Date and Installation Schedule, shall be exceeded by more than thirty (30) days; or
B. Company fails or defaults in the performance of any material obligation or covenant under this Agreement and does not correct or substantially cure such failure, default, or breach within thirty (30) days from and after Company's receipt of written notice from Buyer of such default or breach; or
C. Any material representation or warranty made by Company hereunder is breached and remains uncured from and after thirty (30) days following Company's receipt of written notice from Buyer of such breach. If any event of default occurs and is not cured within any applicable period specified above, Buyer, at its sole option, may employ any remedy then available to it, whether at law or in equity, including, but not limited to, the following:
A. Proceed by appropriate court action to enforce performance by Company of the applicable covenants and obligations of this Agreement and to recover damages for the breach thereof, and/or to enforce the indemnification set forth in Paragraph 15 hereof; or
B. Terminate this Agreement as to all or any part as Buyer in its sole discretion may determine; or
C. Pursue any other rights or remedies available to Buyer under the laws of the State of Maryland.
Default by Company. 15.1 Company will be in “Default” under this Agreement if: (a) Company fails to perform any obligation under this Agreement; (b) a representation or warranty by Company in connection with this Agreement was incorrect or misleading when made; (c) any petition in bankruptcy, insolvency, receivership, or reorganization or proceeding pursuant to any other debtor relief law is filed by or against Company;
Default by Company. If the Company shall fail at Closing Time to sell the number of Securities that it is obligated to sell hereunder, then this Agreement shall terminate without any liability on the part of any nondefaulting party; provided, however, that the provisions of Sections 1, 4, 6, 7, 8, 12, 13 and 14 shall remain in full force and effect. No action taken pursuant to this Section shall relieve the Company from liability, if any, in respect of such default.
Default by Company. Company is in default of this MSA if it (a) fails to cure any monetary breach within ten (10) days of receiving notice of the breach from Consultant; (b) fails to cure any non-monetary breach of any terms of the agreement within thirty (30) days of receiving notice of the breach from Consultant; or (c) files or initiates proceedings or has proceedings filed or initiated against it, seeking liquidation, reorganization or other relief (such as the appointment of a trustee, receiver, liquidator, custodian or such other official) under any bankruptcy, insolvency or other similar law (each such event shall be a “Company Default”).
Default by Company. The occurrence of any of the following at any time during the Term of this Agreement shall constitute an Event of Default by Company: Company shall fail to pay Supplier any amount as and when due under this Agreement (less any amounts disputed in good faith pursuant to Article 12 (Governing Law; Dispute Resolution)) and shall fail to remedy such non-payment within forty-five (45) Days after demand therefor from Supplier; Company shall (i) be dissolved, be adjudicated as bankrupt, or become subject to an order for relief under any federal bankruptcy law; (ii) fail to pay, or admit in writing its inability to pay, its debts generally as they become due; (iii) make a general assignment of substantially all its assets for the benefit of creditors; (iv) apply for, seek, consent to, or acquiesce in the appointment of a receiver, custodian, trustee, examiner, liquidator or similar official for itself or any substantial part of its property; (v) institute any proceedings seeking an order for relief or to adjudicate it as bankrupt or insolvent, or seeking dissolution, winding up, liquidation, reorganization, arrangement, adjustment or composition of it or its debts under any law relating to bankruptcy, insolvency, reorganization, or relief of debtors; or (vi) take any action to authorize or effect any of the foregoing actions; Without the application, approval or consent of Company, a receiver, trustee, examiner, liquidator or similar official shall be appointed for Company or any part of its respective property, or a proceeding described in Section 6.1(b)(2) (Default by Company) shall be instituted against Company and such appointment shall continue undischarged or such proceeding shall continue undismissed or unstayed for a period of sixty (60) consecutive Days or Company shall fail to file timely an answer or other pleading denying the material allegations filed against it in any such proceeding; Company shall fail to perform a material obligation of this Agreement not otherwise specifically referred to in this Section 6.1(b) (Default by Company), which failure shall have a material adverse effect on its ability to accept and pay for, or Supplier’s ability to deliver, Grid Services in accordance with the terms of this Agreement and which failure shall continue for forty-five (45) Days after written demand by Supplier for performance thereof; or Company makes any representation or warranty to Supplier required by, or relating to Company’s performance of, this Agr...
Default by Company. Subject to the provisions of Section 2.16 and Section 2.18, Company will be considered in default as Lessee under this Agreement in the event of any one or more of the following occurrences:
2.14.1.1 Company fails to pay the rent or any other money payments required by this Agreement when the same are due and the continuance of such failure for a period of thirty (30) days after written notice thereof from the LDR to Company or Company fails to maintain any insurance required to be maintained by it under this Agreement and such failure continues for a period of fifteen (15) days after written notice thereof from the LDR to Company.
2.14.1.2 Company fails to perform any other covenant contained in this Agreement and such failure continues for a period of sixty (60) days after written notice thereof from the LDR to Company; provided, however, that if a nonmonetary default cannot be cured with reasonable diligence within such sixty (60) day period, then Lessor shall not have the right to terminate this Agreement or pursue any other remedy against Company, as long as Company commences the curing of such default within said sixty (60) day period and thereafter proceeds with the curing of such default to completion with reasonable diligence, with allowance for delays due to the action or failure to act of governmental authorities, strikes, acts of God or other matters beyond the reasonable control of Company.
2.14.1.3 Company voluntarily abandons the Premises for a period of sixty (60) days following written notice from the LDR to Company.
Default by Company. 13 12.5. Termination......................................... 13
Default by Company. In the event COMPANY shall terminate the ------------------ employment of EMPLOYEE prior to the expiration of the term of this Agreement for reasons other than good cause, COMPANY'S liability to employee shall be limited to an amount equal to one-hundred (100%) percent of EMPLOYEE'S compensation as set forth in paragraph 3 herein for the remainder of the contract term in complete discharge of any further obligations COMPANY may have to EMPLOYEE by law, in equity or under this Agreement. If such termination is for good cause, COMPANY shall pay to EMPLOYEE an amount equal to one month of EMPLOYEE'S annual compensation and shall not be liable to EMPLOYEE for any further damages or severance compensation whatsoever. COMPANY shall be deemed to have terminated EMPLOYEE without good cause if COMPANY conditions EMPLOYEE'S further employment upon changing his residence from northwest Arkansas.
Default by Company. In the event the Company fails to deposit the Reimbursement Amount with Bank One, or if for any other reason the Reimbursement Amount is not available to settle Bank One's obligations under a Draft, the Agent shall make a demand on the Lenders for funding pursuant to this section. Each Lender (other than Bank One) shall forthwith (and in any event, not later than 1:00 p.m., Chicago, Illinois time, on the day the Agent has indicated to the Lenders as the day such Draft is to be honored, or if such demand is made after 10:00 a.m., Chicago, Illinois time on the day indicated for honor of the Draft, then not later than 1:00 p.m., Chicago, Illinois time, on the first Business Day immediately following the day such demand is made), make available to the Agent at its principal banking offices immediately available funds in an amount equal to its Commitment Percentage of the amount of the Draft, which funds shall be immediately remitted by the Agent to Bank One to be used by it to settle its obligations under such Draft. In addition, if for any reason the Reimbursement Amount is recovered in whole or in part from the Agent or Bank One or a recovery is obtained from the Agent or Bank One based on such deposit, then the Agent shall make demand on each Lender for, and each Lender shall pay to the Agent (for the account of Bank One if the recovery is obtained from it) an amount equal to such Lender's Commitment Percentage of the amount of the recovery (provided that Bank One shall not be required to make any such payment in regard to an amount recovered from it). Each payment by a Lender to the Agent pursuant to the preceding sentence of the amount of any Reimbursement Amount recovered shall be deemed to be a Letter of Credit Loan payable with interest as provided above. If for any reason the foregoing payments to the Agent may not be deemed to be a Letter of Credit Loan, each payment by a Lender to the Agent shall be considered to be the purchase of a participation in Bank One's or the Agent's rights and claims arising as a result of such recovery, if any, in an amount equal to such Lender's Commitment Percentage thereof.
Default by Company. The following shall be events of default as to the Company under this Agreement:
(a) Failure by the Company to pay any rent within thirty (30) days of the date it receives written notice from the City that such rent is past due.
(b) Failure by the Company to observe and perform any covenant, condition or agreement on its part to be performed other than as referred to in sub-section
(a) for a period of thirty (30) days after receipt of written notice from the City specifying such failure and requesting that it be remedied.
(c) Abandonment or desertion of Leased Premises by the Company for any period of time exceeding thirty (30) consecutive calendar days or filing of any lien against the Leased Premises or Company’s interest therein in violation of this Agreement and shall remain unreleased for a period of sixty (60) days from the date of such filing unless within said period the Company is contesting in good faith the validity of such lien and while such lien is appropriately bonded.
(d) A receiver is appointed without Company’s application or consent, in any action or proceeding by or against Company and such action or proceeding is not stayed or discharged within sixty (60) days after its commencement, or Company is involuntarily made a party to any insolvency proceeding conducted pursuant to the laws of any state or of a political subdivision of any state and such proceeding is not stayed or discharged within sixty (60) days after its commencement, or Company involuntarily becomes a debtor in any case commenced under the provisions of the United States Bankruptcy Code, as amended and such case is not stayed or discharged within sixty (60) days after its commencement.
(e) The dissolution or liquidation of Company or the filing by Company of a voluntary petition in bankruptcy or failure by the Company promptly to remove any execution, garnishment or attachment of such consequence as will impair its ability to carry on its operations at the Leased Premises.
