Common use of Default Events and Termination Clause in Contracts

Default Events and Termination. 18.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient ceases operating; 18.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 failure by the Grant Recipient to comply with its obligations in Conditions 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 a breach of the Open Book Obligations; 18.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 a breach of the Grant Recipient's obligations under Condition 12; 18.2.6 not used; 18.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 a breach of Condition 9 or 10; 18.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); 18.2.12 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.

Default Events and Termination. 18.1 19.1 Each of the following circumstances shall constitute a General Default: 18.1.1 19.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 19.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 19.1.3 the Grant Recipient ceases operating; 18.1.4 19.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 19.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 19.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 19.2.1 failure by the Grant Recipient to comply with its obligations in Conditions 11 or 12.2 Condition 12 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2Condition 12, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 19.2.2 a breach of the Open Book Obligations; 18.2.3 19.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 19.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 19.2.5 a breach of the Grant Recipient's obligations under Condition 1213; 18.2.6 19.2.6 not used; 18.2.7 19.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 19.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 19.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 14.1 to 13.4 14.4 (inclusive); 18.2.10 19.2.10 a breach of Condition 9 10 or 1011; 18.2.11 19.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d18.3.4(d); 18.2.12 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.

Default Events and Termination. 18.1 19.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient 19.1.1 an Insolvency Event has occurred in relation to a Consortium Member; 19.1.2 a Consortium Member that is an LA Provider is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 19.1.3 a Prohibited Act has been committed by or on behalf of the Grant Recipient a Consortium Member (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient 19.1.4 a Consortium Member ceases operating; 18.1.4 the Grant Recipient19.1.5 a Consortium Member's status as a Registered Provider is lost lost, relinquished or removed; or 18.1.5 19.1.6 the Grant RecipientLead Partner's Investment Partner status is lost lost, relinquished or removed. 18.2 19.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 19.2.1 failure by the Grant Recipient Relevant Consortium Member to comply with its obligations in Conditions 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 19.2.2 a breach of the Open Book Obligations; 18.2.3 19.2.3 the Grant Recipient Relevant Consortium Member is unable to make the applicable representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 19.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant RecipientLead Partner or to the Relevant Consortium Member; 18.2.5 19.2.5 a breach of the Grant RecipientRelevant Consortium Member's obligations under Condition 12; 18.2.6 19.2.6 not used; 18.2.7 the Grant Recipient 19.2.7 a Consortium Member (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 19.2.8 failure by the Grant Recipient Relevant Consortium Member to comply with any repayment obligation under this Agreement; 18.2.9 19.2.9 failure or inability of the Grant Recipient Relevant Consortium Member to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 19.2.10 a breach of Condition 9 or 10; 18.2.11 19.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); 18.2.12 19.2.12 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.3 19.3 The Grant Recipient Relevant Consortium Member must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 19.4 Without prejudice to Conditions 18.5 19.5 or 18.619.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project or Additional Project on OPS. 18.5 19.5 On the occurrence of a General Default the GLA shall (subject to Condition 19.7) be entitled forthwith and without any liability to the Grant Recipient any Consortium Member terminate this Agreement.

Default Events and Termination. 18.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient ceases operating; 18.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 failure by the Grant Recipient to comply with its obligations in Conditions 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 a breach of the Open Book Obligations; 18.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 a breach of the Grant Recipient's obligations under Condition 12; 18.2.6 not used; 18.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 a breach of Condition 9 or 10; 18.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); 18.2.12 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.2.13 any of the following event or circumstances occur: (a) a breach of the Estate Regeneration Requirement; (b) the Grant Recipient has failed to comply with the Estate Regeneration Requirement in circumstances where in the GLA's reasonable opinion the Estate Regeneration Requirement ought to have been complied with (having regard to section 8 of the Affordable Housing Capital Funding Guide); (c) having regard to any Planning Permission obtained for the Site or reports issued to residents affected by the delivery of the Named Project, in the GLA's reasonable opinion, a breach of the Estate Regeneration Requirement is likely to occur; or (d) in the GLA's opinion the Grant Recipient has partitioned the Site in order to avoid the application of the Resident Ballot Requirement; 18.2.14 the facts or circumstances upon which a Compliance Checklist or Exemption Certificate was provided (as applicable) change so that such certificate is no longer correct in all material respects; or 18.2.15 an Exemption Certificate expires or is withdrawn by the GLA. 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.

Default Events and Termination. 18.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient ceases operating; 18.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 failure by the Grant Recipient to comply with its obligations in Conditions 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 a breach of the Open Book Obligations; 18.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 a breach of the Grant Recipient's obligations under Condition 12; 18.2.6 not used; 18.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 a breach of Condition 9 or 10; 18.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); 18.2.12 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.2.13 any of the following events or circumstances occur: (a) a breach of the Estate Regeneration Requirement; (b) the Grant Recipient has failed to comply with the Estate Regeneration Requirement in circumstances where in the GLA's reasonable opinion the Estate Regeneration Requirement ought to have been complied with (having regard to Section 8 of the Affordable Housing Capital Funding Guide); or (c) having regard to any planning permission obtained for the Site or reports issued to residents affected by the delivery of a Named Project, in the GLA's reasonable opinion, a breach of the Estate Regeneration Requirement is likely to occur; (d) in the GLA's opinion the Grant Recipient has partitioned a Site in order to avoid the application of the Resident Ballot Requirement; 18.2.14 the facts or circumstances upon which a Compliance Checklist or Exemption Certificate was provided (as applicable) change so that such certificate is no longer correct in all material respects; or 18.2.15 an Exemption Certificate expires or is withdrawn by the GLA. 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.

Default Events and Termination. 18.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient ceases operating; 18.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 failure by the Grant Recipient to comply with its obligations in Conditions Condition 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2Condition 11, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 a breach of the Open Book Obligations; 18.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 a breach of the Grant Recipient's obligations under Condition 12; 18.2.6 not usedany Early Start Project Default; 18.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's 2016/21 or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's 2016/21 or the Mayor of London into disrepute; 18.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 a breach of Condition 9 or 10; 18.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); ; 18.2.12 any other a breach of or failure to comply with the Agreement which has a Material Adverse EffectCondition 18.8; 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.

Default Events and Termination. 18.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient ceases operating; 18.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 failure by the Grant Recipient to comply with its obligations in Conditions Condition 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2Condition 11, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 a breach of the Open Book Obligations; 18.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 a breach of the Grant Recipient's obligations under Condition 12; 18.2.6 not used; 18.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 a breach of Condition 9 or 10; 18.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); 18.2.12 not used; 18.2.12 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.

Default Events and Termination. 18.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient ceases operating; 18.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 failure by the Grant Recipient to comply with its obligations in Conditions Condition 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2Condition 11, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 a breach of the Open Book Obligations; 18.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 a breach of the Grant Recipient's obligations under Condition 12; 18.2.6 not usedany Early Start Project Default; 18.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 a breach of Condition 9 or 10; 18.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); ; 18.2.12 any other a breach of or failure to comply with the Agreement which has a Material Adverse EffectCondition 18.8; 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.

Default Events and Termination. ‌ 18.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient ceases operating; 18.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 failure by the Grant Recipient to comply with its obligations in Conditions Condition 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2Condition 11, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 a breach of the Open Book Obligations; 18.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 a breach of the Grant Recipient's obligations under Condition 12; 18.2.6 not used; 18.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 a breach of Condition 9 or 10; 18.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); 18.2.12 not used; 18.2.12 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.

Default Events and Termination. 18.1 19.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient 19.1.1 an Insolvency Event has occurred in relation to a Consortium Member; 19.1.2 a Consortium Member that is an LA Provider is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 19.1.3 a Prohibited Act has been committed by or on behalf of the Grant Recipient a Consortium Member (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient 19.1.4 a Consortium Member ceases operating; 18.1.4 the Grant Recipient19.1.5 a Consortium Member's status as a Registered Provider is lost lost, relinquished or removed; or 18.1.5 19.1.6 the Grant RecipientLead Partner's Investment Partner status is lost lost, relinquished or removed. 18.2 19.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 19.2.1 failure by the Grant Recipient Relevant Consortium Member to comply with its obligations in Conditions 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 19.2.2 a breach of the Open Book Obligations; 18.2.3 19.2.3 the Grant Recipient Relevant Consortium Member is unable to make the applicable representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 19.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant RecipientLead Partner or to the Relevant Consortium Member; 18.2.5 19.2.5 a breach of the Grant RecipientRelevant Consortium Member's obligations under Condition 12; 18.2.6 19.2.6 not used; 18.2.7 the Grant Recipient 19.2.7 a Consortium Member (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 19.2.8 failure by the Grant Recipient Relevant Consortium Member to comply with any repayment obligation under this Agreement; 18.2.9 19.2.9 failure or inability of the Grant Recipient Relevant Consortium Member to comply with the requirements of Conditions 13.1 to 13.4 13.5 (inclusive); 18.2.10 19.2.10 a breach of Condition 9 or 109.2; 18.2.11 19.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); 18.2.12 19.2.12 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.3 19.2.13 any of the following events or circumstances occur: (a) a breach of the Estate Regeneration Requirement; (b) the Relevant Consortium Member has failed to comply with the Estate Regeneration Requirement in circumstances where in the GLA's reasonable opinion the Estate Regeneration Requirement ought to have been complied with (having regard to Section 8 of the Capital Funding Guide); or (c) having regard to any planning permission obtained for the Site or reports issued to residents affected by the delivery of a Named Project, in the GLA's reasonable opinion, a breach of the Estate Regeneration Requirement is likely to occur; (d) in the GLA's opinion the Relevant Consortium Member has partitioned a Site in order to avoid the application of the Resident Ballot Requirement; 19.2.14 the facts or circumstances upon which a Compliance Checklist or Exemption Certificate was provided (as applicable) change so that such certificate is no longer correct in all material respects; or 19.2.15 an Exemption Certificate expires or is withdrawn by the GLA. 19.3 The Grant Recipient Relevant Consortium Member must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 19.4 Without prejudice to Conditions 18.5 19.5 or 18.619.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project or Additional Project on OPS. 18.5 19.5 On the occurrence of a General Default the GLA shall (subject to Condition 19.7) be entitled forthwith and without any liability to the Grant Recipient any Consortium Member terminate this Agreement.

Default Events and Termination. 18.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient ceases operating; 18.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 failure by the Grant Recipient to comply with its obligations in Conditions Condition 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions Condition 11 or 12.2, whether in relation to to, the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 a breach of the Open Book Obligations; 18.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 a breach of the Grant Recipient's obligations under Condition 12; 18.2.6 not usedan Insolvency Event has occurred in respect of a Section 106 Project; 18.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 a breach of Condition 9 or 10; 18.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); 18.2.12 any of the following event or circumstances occur: (a) a breach of the Estate Regeneration Requirement; (b) the Grant Recipient has failed to comply with the Estate Regeneration Requirement in circumstances where in the GLA's reasonable opinion the Estate Regeneration Requirement ought to have been complied with (having regard to section 8 of the Affordable Housing Capital Funding Guide); (c) having regard to any Planning Permission obtained for the Site or reports issued to residents affected by the delivery of the Named Project, in the GLA's reasonable opinion, a breach of the Estate Regeneration Requirement is likely to occur; or (d) in the GLA's opinion the Grant Recipient has partitioned the Site in order to avoid the application of the Resident Ballot Requirement; 18.2.13 the facts or circumstances upon which a Compliance Checklist or Exemption Certificate was provided (as applicable) change so that such certificate is no longer correct in all material respects; 18.2.14 an Exemption Certificate expires or is withdrawn by the GLA; or 18.2.15 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect;. 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions Condition 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.

Default Events and Termination. 18.1 Each of the following circumstances shall constitute a General Default: 18.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 the Grant Recipient ceases operating; 18.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 failure by the Grant Recipient to comply with its obligations in Conditions Condition 11 or 12.2 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2Condition 11, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 a breach of the Open Book Obligations; 18.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 a breach of the Grant Recipient's obligations under Condition 12; 18.2.6 not used; 18.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 a breach of Condition 9 or 10; 18.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); 18.2.12 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.

Default Events and Termination. 18.1 19.1 Each of the following circumstances shall constitute a General Default: 18.1.1 19.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 19.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 19.1.3 the Grant Recipient ceases operating; 18.1.4 19.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or; 18.1.5 19.1.5 the Grant Recipient's Investment Partner status is lost or removed; or 19.1.6 the Grant Recipient has made any representation or given any warranty under Part 2 of Schedule 1 that is inaccurate, untrue or misleading in any material respects. 18.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 19.2.1 failure by the Grant Recipient to comply with its obligations in Conditions 11 12 or 12.2 13 and/or any information supplied in connection with its obligations in Conditions 11 12 or 12.213, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 19.2.2 a breach of the Open Book Obligations; 18.2.3 19.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) this Agreement and there is a resulting Material Adverse Effect; 18.2.4 19.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 a breach of the Grant Recipient's obligations under Condition 12; 18.2.6 not used; 18.2.7 19.2.5 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/212021-26's or the Mayor of London's reputation or brings the GLA, the AHP 2016/212021-26's or the Mayor of London into disrepute; 18.2.8 19.2.6 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 19.2.7 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 14.1 to 13.4 14.7 (inclusive); 18.2.10 19.2.8 a breach of Condition 9 10 or 1011; 18.2.11 19.2.9 failure by the parties to agree the matter referred to in Condition 17.3.4(d18.3.4(d); 18.2.12 19.2.10 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.3 The 19.2.11 any of the following events or circumstances occur: (a) a breach of the Estate Regeneration Requirement; (b) the Grant Recipient must notify has failed to comply with the GLA immediately Estate Regeneration Requirement in writing on circumstances where in the occurrence GLA's reasonable opinion the Estate Regeneration Requirement ought to have been complied with (having regard to Section 8 of the Affordable Housing Capital Funding Guide); (c) having regard to any planning permission obtained for the Site or reports issued to residents affected by the delivery of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6Named Project, in the event GLA's reasonable opinion, a breach of the occurrence of Default Event and for so long as that Default Event subsists Estate Regeneration Requirement is likely to occur; or (or another Default Event has occurred and is continuingd) in the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to GLA's opinion the Grant Recipient terminate this Agreementhas partitioned a Site in order to avoid the application of the Resident Ballot Requirement; 19.2.12 the facts or circumstances upon which a Compliance Checklist or Exemption Certificate was provided (as applicable) change so that such certificate is no longer correct in all material respects; 19.2.13 an Exemption Certificate expires or is withdrawn by the GLA; 19.2.14 the Grant Recipient has failed to satisfy the Additionality Condition in respect of a Named Project; 19.2.15 the Grant Recipient fails to satisfy or, in the opinion of the GLA acting reasonably, is unlikely (having regard to (where applicable) the relevant Planning Permission relating to delivery of the dwellings on the Development Site) to satisfy the Affordable Percentage Condition in respect of a Named Project; 19.2.16 the Grant Recipient has made any representation or given any warranty under Condition 6.2 that is inaccurate, untrue or misleading; 19.2.17 failure to agree revised Milestone Dates pursuant to Condition 8.1.2(b); or 19.2.18 an SSH Project Breach has occurred.

Default Events and Termination. 18.1 19.1 Each of the following circumstances shall constitute a General Default: 18.1.1 19.1.1 the Grant Recipient is subject to a Section 15 Direction which has or will have a Material Adverse Effect; 18.1.2 19.1.2 a Prohibited Act has been committed by or on behalf of the Grant Recipient (in respect of which the Waiver Condition has not been satisfied); 18.1.3 19.1.3 the Grant Recipient ceases operating; 18.1.4 19.1.4 the Grant Recipient's status as a Registered Provider is lost or removed; or 18.1.5 19.1.5 the Grant Recipient's Investment Partner status is lost or removed. 18.2 19.2 Each of the following circumstances shall constitute a Project Default: 18.2.1 19.2.1 failure by the Grant Recipient to comply with its obligations in Conditions 11 or 12.2 Condition 12 and/or any information supplied in connection with its obligations in Conditions 11 or 12.2Condition 12, whether in relation to the Open Book Obligations or otherwise, is materially deficient, misleading or inaccurate; 18.2.2 19.2.2 a breach of the Open Book Obligations; 18.2.3 19.2.3 the Grant Recipient is unable to make the representations and give the warranties set out in Schedule 1 (in any case in whole or in part) and there is a resulting Material Adverse Effect; 18.2.4 19.2.4 the Regulator directs or recommends that grant is not to be paid to the Grant Recipient; 18.2.5 19.2.5 a breach of the Grant Recipient's obligations under Condition 1213; 18.2.6 not used; 18.2.7 the Grant Recipient (either by its own actions or omissions, or those of its contractors or agents) xxxxx the GLA's, the AHP 2016/21's or the Mayor of London's reputation or brings the GLA, the AHP 2016/21's or the Mayor of London into disrepute; 18.2.8 failure by the Grant Recipient to comply with any repayment obligation under this Agreement; 18.2.9 failure or inability of the Grant Recipient to comply with the requirements of Conditions 13.1 to 13.4 (inclusive); 18.2.10 a breach of Condition 9 or 10; 18.2.11 failure by the parties to agree the matter referred to in Condition 17.3.4(d); 18.2.12 any other breach of or failure to comply with the Agreement which has a Material Adverse Effect; 18.3 The Grant Recipient must notify the GLA immediately in writing on the occurrence of a Default Event. 18.4 Without prejudice to Conditions 18.5 or 18.6, in the event of the occurrence of Default Event and for so long as that Default Event subsists (or another Default Event has occurred and is continuing) the GLA shall be entitled to reject the submission of any Named Project on OPS. 18.5 On the occurrence of a General Default the GLA shall be entitled forthwith and without any liability to the Grant Recipient terminate this Agreement.