Common use of Developer Event of Default Clause in Contracts

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) The Performance Security has been encashed and appropriated by the Authority in accordance with this Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 (sixty) days; (ii) The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3. (v) The Developer has failed to complete the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement. (xi) The Developer has abandoned or manifests intention to abandon the development of and /or operation & management of the Project Facilities without the prior written consent of the Authority. (xii) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) The Performance Security has been encashed and appropriated by the Authority in accordance with this Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 (sixty) days; (ii) The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3Clause5.3. (v) The Developer has failed to complete the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement. (xi) The Developer has abandoned or manifests intention to abandon the development of developmentof and /or operation & &management of the Project Facilities without the prior written consent of the Authority. (xii) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) The Performance Security has been encashed and appropriated by the Authority in accordance with this Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 (sixty) days; (ii) The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3. (v) The Developer has failed to complete the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement. (xi) The Developer has abandoned or manifests intention to abandon the development of and /or operation & management of the Project Facilities without the prior written consent of the Authority. (xii) The Developer has unlawfully repudiated this Agreement or has otherwise expressed otherwiseexpressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) The Performance Security has been encashed and appropriated by the Authority in accordance with this Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 (sixty) days; (ii) The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3.; (v) The Developer has failed to complete the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement.; (xi) The Developer has abandoned or manifests intention to abandon the development of and /or operation & management of the Project Facilities without the prior written consent of the Authority.; (xii) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire.; (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement; or (xv) The Successful Bidder has diluted its stake in the Developer in violation of Clause 5.13.

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) The Performance Security has been encashed and appropriated by the Authority in accordance with this Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 (sixty) days; (ii) The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3Clause5.3. (v) The Developer has failed to complete the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement. (xi) The Developer has abandoned or manifests intention to abandon the development of and /or operation & &management of the Project Facilities without the prior written consent of the Authority. (xii) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.

Developer Event of Default. Any 24.1.1 For the purposes of this Development Agreement, each of the following events or circumstances, to the extent not caused by a default of BSHB or Force Majeure Event, shall constitute an event be considered, as events of default by of the Developer (the "Developer Event of Default") unless such event has occurred as a result which, if not remedied within the Cure Period upon receipt of a Force Majeure Event or written notice from BSHB, shall provide BSHB the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) The Performance Security has been encashed and appropriated by the Authority right to terminate this Development Agreement in accordance with this Agreement and Clause24.3: a) Any breach, including but not limited to the events specified hereunder by the Developer fails to replenish or provide fresh Performance Security of its obligations under this Development Agreement, and such breach if capable of being remedied, is not remedied within 60 (sixty) daysdays of receipt of written notice, from BSHB specifying such breach and requiring the Developer to remedy the same; b) A breach of any representation or warranty by the Developer which has a Material Adverse Effect on BSHB's ability to perform its obligations under this Development Agreement and such breach, if capable of being remedied, is not remedied; c) Suspension by the Developer of the performance of the obligations under this Development Agreement for a period exceeding 30 (iithirty) The consecutive days (except during the subsistence of a Force Majeure Event); d) Failure by the Developer has failed to pay Fee to operate and maintain the Authority Assets in accordance with the payment schedule specified Applicable Laws or committing a default of its obligation as provided for in Schedule 1Article XIV; (iiie) Failure of the Developer to maintain insurance(s) as required in terms of Article VIII; f) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3. (v) The Developer has failed to complete the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court a court; filing of a petition for voluntary winding up by the Developer; or levy of an execution or restraint on the Developer's assets; or appointment of a provisional liquidator, administrator, trustee or receiver of the whole or substantially whole of the undertaking of Developer by a court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement.; (xig) The Developer has abandoned using or manifests intention to abandon permitting or causing the use of the Site (i) for purposes other than for the development of and /or operation & management Assets or (ii) in violation of the Project Facilities without the prior written consent Schedule I-III, Annexures and/or other provisions of the Authority.this Development Agreement; (xiih) The Developer has unlawfully repudiated this Agreement doing or has otherwise expressed an intention not permitting to be bound by this Agreementdo any act, matter, deed or thing in violation of Applicable Law and/or Applicable Permits; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xivi) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on setting up an interest in the whole Site or any part portion thereof (i) adverse to that of BSHB or (ii) a third person; or (iii) claiming an absolute interest in the Site or any portion thereof in itself; j) Failure to achieve the Project Completion Date on or prior to the expiry of the Scheduled Completion Date or the Extended Project Site Completion Period, as the case may be; k) Commits a breach of any of the provisions of the Lease Deed, or Project Facilitiesthe Substitution Agreement; and l) Commits a breach of its obligations as contained in Articles XVII, save XIX, XX and except as expressly permitted XXI hereinabove. m) Breach or violation of approved building/ construction plans approved by this Agreementthe Competent Authority, and provisions of applicable master plan or zoning regulations.

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority JTDCL Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) The i. the Performance Security Security, has been encashed and appropriated by the Authority in accordance with this Agreement Article 5.2 and the Developer fails to replenish or provide fresh Performance Security within a Cure Period of 30 (thirty) days; ii. subsequent to the replenishment or furnishing of fresh Performance Security in accordance with Article 5.2, the Developer fails to cure, within a Cure Period of 60 (sixty) days, the Developer Event of Default for which whole or part of the Performance Security was appropriated; iii. issue of the Completion Certificate is delayed beyond 30 (iisixty) days of Scheduled Project Completion Date; iv. the Developer is in breach of the Construction Requirements or the Operations Requirements, as the case may be; v. The Developer has failed fails to pay make payment of the Annual Fee to the Authority in accordance with by the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof therefor and more than 60 30 days have elapsed since such default; (iv) vi. The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3. (v) The Developer has failed to complete the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers is in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission under this Agreement and the same has not been remedied for more than 60 (sixty) 30 days; (viii) vii. Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) viii. A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) ix. Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, jurisdiction except for the purpose of amalgamation or reconstruction with the prior consent of the AuthorityJTDCL, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement.; (xi) x. The Developer has abandoned or manifests intention the Project Facilities; xi. If the Developer fails to abandon pay the development of and /or operation & management of necessary insurance premiums towards the Project Facilities without and thereby causes the prior written consent of insurance coverage on the Authority.Project Facilities to diminish, terminate or expire; (xii) . The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) . The Developer has leased, mortgaged, assigned, transferred suffered an attachment levied on any of its assets which has caused or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save is likely to cause a Material Adverse Affect and except as expressly permitted by this Agreement.such attachment has continued for a period exceeding 60 days;

Developer Event of Default. Any The Developer Event of Default means any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such an event has occurred as a result consequence of a Force Majeure Event or (the Authority “Developer Event of Default Default”): (i) the Developer commits a Material Breach of this Agreement and such breach is not cured by the Developer within the specified cure period or if not so specified within 90 days of DMA’s notice to the Developer specifying such breach and requiring the Developer to remedy the same. (ii) the Developer’s failure to perform or discharge any of its obligations under any other Transaction Document which has or is likely to have a Material Adverse Effect. (iii) any representation made or warranties given by the Developer/Consortium Members/Selected Bidder under this Agreement is found to be false or misleading. (iv) the Developer, any of its creditors or any governmental action other eligible party files for reasons the Developer’s liquidation, winding up, receivership, reorganization, compulsory composition or dissolution in case of such a proceeding by a creditor or any other than any breach, default eligible party and such filing is not revoked or lapse discharged within 90 (ninety) days from such filing. (v) levy of an execution or destraint on the Developer’s assets which has or is likely to have Material Adverse Effect and such execution or destraint remaining in force for a period exceeding 60 (sixty) days. (vi) amalgamation of the Developer with any other company or reconstruction or transfer of the whole or part of the Developer:’s undertaking (other than transfer of assets in the ordinary course of business) without DMA’s prior written approval; provided, if the amalgamated entity, reconstructed entity or the transferee, as the case may be, has the financial and technical ability demonstrated to the satisfaction of DMA, to undertake, perform/discharge the obligations of the Developer under this Agreement, DMA shall not unreasonably withhold the necessary approval. (ivii) the Developer engages or knowingly allows any of its employees, agents, Subcontractor, agent or representative to engage in, in the course of any activity undertaken pursuant to this Agreement, any activity prohibited by law or which constitutes a breach of or an offence under any law. (viii) the Developer repudiates this Agreement or otherwise takes any action or evidences or conveys an intention not to be bound by this Agreement. (ix) the Developer has delayed payment that has fallen due under this Agreement, beyond the specified time period or if not so specified beyond 90 (ninety) days of the due date. (x) The Developer has failed to make any payment towards damages to any user or any utility within the period specified in this Agreement. (xi) the Developer is adjudged bankrupt or insolvent, or if a trustee or receiver is appointed for the Developer or for the whole or material part of its assets at any time before the Construction Completion. (xii) the Developer does not attend to or abandons the Project for a consecutive period of 90 (ninety) days or manifests intention to abandon the Project without prior written consent of DMA. (xiii) As a result of any act or omission of the Developer, any lender (for the Project) enforces or initiates measures to enforce any security interest over any of the assets of the Developer, or the shares of the Developer owned by the Selected Bidder/Consortium Members. (xiv) the occurrence of a breach identified as an event of default under any Transaction Document. (xv) the minimum Equity requirements specified in Clause 7.2.2 are not maintained. (xvi) the Developer is in Material Breach of its obligations in relation to the Project. (xvii) the Performance Security has been encashed partially or fully invoked and appropriated by DMA as per the Authority in accordance with this Development Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 a Cure Period of 30 (sixtythirty) days; (ii) The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3. (vxviii) The such events as have been specified as Developer has failed to complete Events of Default under the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers in Material Breach provisions of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement. (xixix) The the Developer has abandoned or manifests intention to abandon the development of novates and /or operation & management of assigns the Project Facilities agreement to any third party without the any prior written consent of the Authorityapproval from DMA. (xii) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.

Developer Event of Default. Any The Developer Event of Default means any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such an event has occurred as a result consequence of a Force Majeure Event or (the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer:³Developer (YHQW Rl ): 'HlDXOW´ (i) the Developer commits a Material Breach of this Agreement and such breach is not cured by the Developer within the specified cure period or if not so specified within 90 days of DMA¶V QRWLFH WR Developer specifying such breach and requiring the Developer to remedy the same. (ii) the Developer¶V IDLOXUH WR SHUIRUP RU GLVFK under any other Transaction Document which has or is likely to have a Material Adverse Effect. (iii) any representation made or warranties given by the Developer/Consortium Members/Selected Bidder under this Agreement is found to be false or misleading. (iv) the Developer, any of its creditors or any other eligible party files for the Developer¶V OLTXLGDWLRQ ZLQGLQJ XS U compulsory composition or dissolution in case of such a proceeding by a creditor or any other eligible party and such filing is not revoked or discharged within 90 (ninety) days from such filing. (v) levy of an execution or destraint on the Developer¶V DVVHWV ZKLF or is likely to have Material Adverse Effect and such execution or destraint remaining in force for a period exceeding 60 (sixty) days. (vi) amalgamation of the Developer with any other company or reconstruction or transfer of the whole or part of the Developer¶V undertaking (other than transfer of assets in the ordinary course of business) without DMA¶V SULRU ZULWWHQ, if DtheSSURYD amalgamated entity, reconstructed entity or the transferee, as the case may be, has the financial and technical ability demonstrated to the satisfaction of DMA, to undertake, perform/discharge the obligations of the Developer under this Agreement, DMA shall not unreasonably withhold the necessary approval. (vii) the Developer engages or knowingly allows any of its employees, agents, Subcontractor, agent or representative to engage in, in the course of any activity undertaken pursuant to this Agreement, any activity prohibited by law or which constitutes a breach of or an offence under any law. (viii) the Developer repudiates this Agreement or otherwise takes any action or evidences or conveys an intention not to be bound by this Agreement. (ix) the Developer has delayed payment that has fallen due under this Agreement, beyond the specified time period or if not so specified beyond 90 (ninety) days of the due date. (x) The Developer has failed to make any payment towards damages to any user or any utility within the period specified in this Agreement. (xi) the Developer is adjudged bankrupt or insolvent, or if a trustee or receiver is appointed for the Developer or for the whole or material part of its assets at any time before the Construction Completion. (xii) the Developer does not attend to or abandons the Project for a consecutive period of 90 (ninety) days or manifests intention to abandon the Project without prior written consent of DMA. (xiii) As a result of any act or omission of the Developer, any lender (for the Project) enforces or initiates measures to enforce any security interest over any of the assets of the Developer, or the shares of the Developer owned by the Selected Bidder/Consortium Members. (xiv) the occurrence of a breach identified as an event of default under any Transaction Document. (xv) the minimum Equity requirements specified in Clause 7.2.2 are not maintained. (xvi) the Developer is in Material Breach of its obligations in relation to the Project. (xvii) the Performance Security has been encashed partially or fully invoked and appropriated by DMA as per the Authority in accordance with this Development Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 a Cure Period of 30 (sixtythirty) days; (ii) The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3. (vxviii) The such events as have been specified as Developer has failed to complete Events of Default under the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers in Material Breach provisions of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement. (xixix) The the Developer has abandoned or manifests intention to abandon the development of novates and /or operation & management of assigns the Project Facilities agreement to any third party without the any prior written consent of the Authorityapproval from DMA. (xii) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) The Performance Security has been encashed and appropriated by the Authority in accordance with this Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 (sixty) days; (ii) The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3Clause5.3. (v) The Developer has failed to complete the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement. (xi) The Developer has abandoned or manifests intention to abandon the development of and /or operation & management of the Project Facilities without the prior written consent of the Authority. (xii) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("Developer Event DeveloperEvent of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) The Performance Security has been encashed and appropriated by the Authority in Authorityin accordance with this Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 (sixty) days; (ii) The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3. (viii) The Developer has failed to complete the development renovation within the stipulated time period in this Agreement and any extension thereof; (viiv) The Developer has failed to provide additional facilities as provided in Clause 5.10(d) within the stipulated time period in this Agreement and any extension thereof; (v) The Project Facilities are damaged or modified without obtaining approval from the Authority; (viivi) The Developers Developeris in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viiivii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ixviii) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (xix) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement. (xix) The Developer has abandoned or manifests intention to abandon the development renovation of and /or operation & management of the Project Facilities without the prior written consent of the Authority. (xiixi) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiiixii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xivxiii) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("" Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) The Performance Security has been encashed and appropriated by the Authority in accordance with this Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 (sixty) days; (ii) The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3. (viii) The Developer has failed to complete the development renovation within the stipulated time period in this Agreement and any extension thereof; (viiv) The Developer has failed to provide additional facilities as provided in 5.8 (e) within the stipulated time period in this Agreement and any extension thereof; (v) The Project Facilities are damaged or modified without obtaining approval from the Authority; (viivi) The Developers Developer is in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viiivii) Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ixviii) A resolution for voluntary winding up has been passed by the shareholders of the Developer; (xix) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the AuthorityAuthority , provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement. (xix) The Developer has abandoned or manifests intention to abandon the development renovation of and /or operation & management of the Project Facilities without the prior written consent of the Authority. (xiixi) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiiixii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xivxiii) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer: (i) : The Performance Security has been encashed and appropriated by the Authority in accordance with this Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 (sixty) days; (ii) ; The Developer has failed to pay Fee to the Authority in accordance with the payment schedule specified in Schedule 1; (iii) ; The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) ; The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3. (v) ; The Developer has failed to complete the development within the stipulated time period in this Agreement and any extension thereof; (vi) ; The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) ; The Developers in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii) ; Any representation made or warranty given by the Developer under this Agreement is found to be false or misleading; (ix) ; A resolution for voluntary winding up has been passed by the shareholders of the Developer; (x) ; Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this Agreement. (xi) ; The Developer has abandoned or manifests intention to abandon the development of and /or operation & management of the Project Facilities without the prior written consent of the Authority. (xii) ; The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) ; If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.;

Developer Event of Default. Any 9.1.1 Each of the following events or circumstances, to the extent not caused by a default of the Mandi Board or Force Majeure shall constitute an event be considered for the purposes of this Agreement as events of default by of the Developer ("Developer Event of Default") unless such event has occurred as a result which, if not remedied within the Cure Period upon receipt of a Force Majeure Event or written notice from Mandi Board, shall provide the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on Mandi Board the part of the Developerright to terminate this Agreement in accordance with Clause 9.3: (ia) The the Performance Security has been encashed and appropriated by the Authority in accordance with this Agreement and the Developer fails to replenish or provide fresh Performance Security within 60 a cure period of 30 (sixtythirty) days; (iib) The Developer has failed to pay Fee subsequent to the Authority replenishment or furnishing of fresh Performance Security in accordance with this Agreement, the Developer fails to cure, within a cure period of 30 (thirty) days, the Developer default for which whole or part of the Performance Security was appropriated; (c) Completion of the relevant Facilities does not occur within the period specified in Clause 6.1.3 or Clause 6.2.3, as the case may be; (d) any material breach by the Developer of its obligations under this Agreement and such breach is not remedied within 30 days of receipt of written notice from the Mandi Board specifying such breach and requiring the Developer to remedy the same; (e) a breach of any representation or warranty by the Developer which materially adversely affects the Mandi Board’s ability to perform its obligations under this Agreement and such breach, if capable of being remedied, is not remedied within 30 days of receipt of written notice from the Mandi Board specifying such breach and requiring the Developer to remedy the same; (f) suspension by the Developer of the performance of the obligations under this Agreement for a period exceeding 30 consecutive days (except during the subsistence of an event of Force Majeure); (g) commencement of the construction of Minimum Facilities or Minimum Development Obligations by the Developer without having Applicable Permits or Approved Drawings and Plan for the relevant Facility; (h) construction of Minimum Facilities, Minimum Development Obligations and/or Additional Facilities in contravention of the Applicable Permits and/or Approved Drawings and Plans. (i) Failure by the Developer to operate and maintain the Facilities and the Project Land in accordance with the payment schedule specified in Schedule 1Applicable Laws, and such breach is not remedied within 30 days of receipt of written notice from the Mandi Board specifying such breach and requiring the Developer to remedy the same; (iiij) The Failure of Developer has failed to make any Payment maintain insurance(s) in respect of the Project which failure is not remedied within a period of 30 days from the date of such failure. (k) Developer is ordered to be wound up by a court; the Developer files a petition for voluntary winding up; or levy of an execution or restraint on Due Date thereof and more the Developer’s assets; or appointment of a provisional liquidator, administrator, trustee or receiver of the whole or substantially whole of the undertaking of Developer by a court of competent jurisdiction. (l) the Developer using or permitting or causing the use of the Project Land for purposes other than 60 days have elapsed since such defaultfor the development of Facilities or development of Facilities in violation of this Agreement; (ivm) The the Developer has failed doing or permitting to submit be done any act, matter, deed or thing in violation of Applicable Law; (n) the Developer setting up an interest in the Project Implementation Plan within Land or any portion thereof not authorized under this Agreement and/or the time specified License Agreement or adverse to that of Mandi Board or in Clause 5.3a third person or claiming an interest in the Project Land or any portion thereof absolute in itself; (o) non-compliance of equity lock-in provisions set forth in Article 5. (vp) The Developer has failed failure to complete return the development within peaceful possession of the stipulated time period in Project Lan upon termination of this Agreement and any extension thereofor failure to return the peaceful possession of the Project Land in accordance with Clause 6.3.2 or 6.3.5, ; (viq) The Project Facilities are damaged or modified without obtaining approval from the Authoritynon-payment of any Damages payable under this Agreement; (viir) The Developers in Material Breach non-payment of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) daysAnnual License Fees; (viiis) Any representation made or warranty given material breach of any obligation by the Developer under this Agreement is found to be false or misleading; (ix) A resolution for voluntary winding up has been passed by and/or the shareholders of the Developer; (x) Any petition for winding up of the Developer has been admitted and liquidator or provisional liquidator has been appointed or the Developer has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction with the prior consent of the Authority, provided that, as part of such amalgamation or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Developer under this License Agreement. (xi) The Developer has abandoned or manifests intention to abandon the development of and /or operation & management of the Project Facilities without the prior written consent of the Authority. (xii) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole or any part of the Project Site or Project Facilities, save and except as expressly permitted by this Agreement.

Developer Event of Default. Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority APIIC Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer:a Force Majeure Event; (i1) The Performance Security has been encashed and appropriated by the Authority in accordance with Developer repudiates this Agreement and or otherwise evidences an intention not to be bound by this Agreement as well the Lease Deed; (2) The Developer fails to replenish or provide fresh Performance Security commence the Construction Works within 60 (sixty) daysthe stipulated period; (ii3) The Developer has failed fails to pay Fee to achieve COD within 90 (ninety) from the Authority in accordance with the payment schedule specified in Schedule 1Scheduled Project Completion Date; (iii) The Developer has failed to make any Payment on Due Date thereof and more than 60 days have elapsed since such default; (iv) The Developer has failed to submit the Project Implementation Plan within the time specified in Clause 5.3. (v) The Developer has failed to complete the development within the stipulated time period in this Agreement and any extension thereof; (vi) The Project Facilities are damaged or modified without obtaining approval from the Authority; (vii) The Developers in Material Breach of any of its other obligations under this Agreement on account of its own acts of omission or commission and the same has not been remedied for more than 60 (sixty) days; (viii4) Any representation made or warranty warranties given by the Developer under this Agreement is found to be false or misleading; (ix5) Developer creates any encumbrance on the Project Site, Project Facility in favour of any person unless as specified in the Agreement terms; (6) A resolution for voluntary winding up has been is passed by the shareholders of the Developer; (x) Any petition Developer for the voluntary winding up of the Developer Project Company; (7) A default has been admitted occurred under any of the Financing Documents, and liquidator any of the Lenders has recalled its substantial part of the financial assistance and demanded payment of the amounts outstanding under the Financing Documents or provisional liquidator has been appointed or any of them as applicable, provided that, APIIC shall provide a reasonable opportunity to the Developer has been ordered to be wound up by Court before taking any action; (8) The Developer suspends or abandons, without any reasonable cause, the operations of competent jurisdiction, except for the purpose of amalgamation or reconstruction with Project without the prior consent of the AuthorityAPIIC, provided thatthat the Developer shall be deemed not to have suspended/ abandoned operation if such suspension/ abandonment was (i) as a result of Force Majeure Event and is only for the period such Force Majeure is continuing, as part or (ii) is on account of such amalgamation a breach of its obligations under this Agreement by APIIC (iii) is for the renovation, repair or reconstruction and the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations extension, addition of the Developer under this AgreementProject Facility. (xi9) An attachment is being executed on its substantial assets causing a Material Adverse Effect on the Project and such attachment continues for a period exceeding 180 (one hundred and eighty) days. (10) The Developer has abandoned or manifests intention to abandon the development of and /or operation & management of the Project Facilities without the prior written consent of the Authority. (xii) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement; (xiii) If the Developer fails to pay the necessary insurance premiums in terms of this Agreement and thereby causes the insurance coverage to diminish, terminate or expire. (xiv) The Developer has leased, mortgaged, assigned, transferred or created any lien or Encumbrance on the whole delayed all or any part kind of payments under the Project Site or Project Facilities, save and except as expressly permitted by this AgreementAgreements.