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 an Insolvency Event has occurred in relation to the Grant Recipient; 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);

Default Events and Termination. 18.1 19.1 Each of the following circumstances shall constitute a General Default: 18.1.1 19.1.1 an Insolvency Event has occurred in relation to the Grant Recipient; 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);