Default Spectrum Plans Sample Clauses

Default Spectrum Plans. In the event that there shall have occurred a MSV Payment Default, then the Parties agree that: (i) where a MSV Payment Default takes place after the Phase 1 Notice Date but before the Phase 1 Completion Date, then Inmarsat shall in its absolute discretion elect by notice in writing to the MSV Parties either (1) to convert the Phase 0 Block Loan into a permanent assignment in its favor, whereupon the Parties agree that the Phase 0 Block Loan shall automatically be converted into such permanent assignment to Inmarsat and the Alternative Default Spectrum Plan shall come into effect on the Sixth Anniversary, or (2) to bring into effect the Primary Default Spectrum Plan (being the spectrum usage plan set out at Exhibit H1) on a date (not later than the Sixth Anniversary) to be notified by Inmarsat to the MSV Parties, without prejudice to Inmarsat’s remedies available to it as a matter of law in relation to the MSV Payment Default; (ii) where a MSV Payment Default takes place on or after the Phase 1 Completion Date but prior to payment of the Five Years Payment Amount, then (1) in the event that the Phase 1A Spectrum Plan is then or has previously been in effect, the Alternative Default Spectrum Plan shall automatically be brought into effect and (2) in the event that the Phase 1 Spectrum Plan is then or has previously been in effect, the Primary Default Spectrum Plan shall automatically be brought into effect, in each case on a date (not later than the Sixth Anniversary) to be notified by Inmarsat to the MSV Parties, without prejudice to Inmarsat’s remedies available to it as a matter of law in relation to the MSV Payment Default; (iii) where a MSV Payment Default takes place after the payment of the Five Years Payment Amount, Inmarsat shall have the right in its absolute discretion to elect either to pursue the remedies available to it as a matter of law, or may in lieu thereof elect to implement the Primary Default Spectrum Plan, which Plan shall be brought into effect on a date (not later than the Sixth Anniversary) to be notified by Inmarsat to the MSV Parties; and 14
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Related to Default Spectrum Plans

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  • ADDITIONAL SPECIAL CONTRACT CONDITIONS Special Contract Conditions revisions: the corresponding subsections of the Special Contract Conditions referenced below are replaced in their entirety with the following:

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