Common use of Default Events and Termination Clause in Contracts

Default Events and Termination. ‌ On the occurrence of a Scheme Default, Homes England shall (subject to Clause 19.2 (Default Events and Termination)) be entitled (without any liability to the Grant Recipient) immediately upon serving written notice to: terminate this Agreement insofar as it relates to the Firm Scheme to which the Scheme Default relates; withhold and cancel any further payment of Firm Scheme Grant due to the Grant Recipient in relation to the Firm Scheme; and reallocate or redirect such part of the Firm Scheme Grant which has not yet been paid to the Grant Recipient to such other person or for such purpose as Homes England in its discretion considers appropriate. Where the Scheme Default is of a type described in limb (a), (c) or (e) of the definition of "Scheme Default", Homes England: must notify the Grant Recipient of the Scheme Default and of the period within which it (acting reasonably) requires the Scheme Default to be remedied; and shall be entitled, if the Scheme Default has not been remedied within the period prescribed pursuant to Clause 19.2.1 (Default Events and Termination) or it is or becomes apparent that the Scheme Default is incapable of remedy either within

Default Events and Termination. ‌ On the occurrence of a Scheme Default, Homes England shall (subject to Clause 19.2 (Default Events and Termination)) be entitled (without any liability to the Grant Recipient) immediately upon serving written notice to: terminate this Agreement insofar as it relates to the Firm Scheme to which the Scheme Default relates; withhold and cancel any further payment of Firm Scheme Grant due to the Grant Recipient in relation to the Firm Scheme; and reallocate or redirect such part of the Firm Scheme Grant which has not yet been paid to the Grant Recipient to such other person or for such purpose as Homes England in its discretion considers appropriate. Where the Scheme Default is of a type described in limb (a), (c) or (e) of the definition of "Scheme Default", Homes England: must notify the Grant Recipient of the Scheme Default and of the period within which it (acting reasonably) requires the Scheme Default to be remedied; and shall be entitled, if the Scheme Default has not been remedied within the period prescribed pursuant to Clause 19.2.1 (Default Events and Termination) or it is or becomes apparent that the Scheme Default is incapable of remedy either withinand

Default Events and Termination. ‌ On the occurrence of a Scheme Default, Homes England shall (subject to Clause 19.2 (Default Events and Termination)) be entitled (without any liability to the Grant Recipient) immediately upon serving written notice to: terminate this Agreement insofar as it relates to the Firm Scheme to which the Scheme Default relates; withhold and cancel any further payment of Firm Scheme Grant due to the Grant Recipient in relation to the Firm Scheme; and reallocate or redirect such part of the Firm Scheme Grant which has not yet been paid to the Grant Recipient to such other person or for such purpose as Homes England in its discretion considers appropriate. Where the Scheme Default is of a type described in limb (a), (c) or (e) of the definition of "Scheme Default", Homes England: must notify the Grant Recipient of the Scheme Default and of the period within which it (acting reasonably) requires the Scheme Default to be remedied; and shall be entitled, if the Scheme Default has not been remedied within the period prescribed pursuant to Clause 19.2.1 (Default Events and Termination) or it is or becomes apparent that the Scheme Default is incapable of remedy either withinand

Default Events and Termination. ‌ On the occurrence of a Scheme Default, Homes England shall (subject to Clause 19.2 (Default Events and Termination)) be entitled (without any liability to the Grant Recipient) immediately upon serving written notice to: terminate this Agreement insofar as it relates to the Firm Scheme to which the Scheme Default relates; withhold and cancel any further payment of Firm Scheme Grant due to the Grant Recipient in relation to the Firm Scheme; and reallocate or redirect such part of the Firm Scheme Grant which has not yet been paid to the Grant Recipient to such other person or for such purpose as Homes England in its discretion considers appropriate. Where the Scheme Default is of a type described in limb (a), (c) or (ec) of the definition of "Scheme Default", Homes England: must notify the Grant Recipient of the Scheme Default and of the period within which it (acting reasonably) requires the Scheme Default to be remedied; and shall be entitled, if the Scheme Default has not been remedied within the period prescribed pursuant to Clause 19.2.1 (Default Events and Termination) or it is or becomes apparent that the Scheme Default is incapable of remedy either withinand