Development Entity Default Sample Clauses
The Development Entity Default clause defines the circumstances under which the party responsible for development is considered to be in default under the agreement. Typically, this clause outlines specific events or failures—such as missing deadlines, failing to meet quality standards, or breaching material obligations—that would trigger a default. In practice, it may also describe the process for notifying the development entity of the default and any cure periods allowed. The core function of this clause is to clearly establish what constitutes a default, thereby protecting the interests of the other party and providing a structured process for addressing performance failures.
Development Entity Default. The occurrence of any one or more of the following events or conditions shall constitute a Development Entity Default:
(a) the Development Entity fails to comply with any Governmental Approvals or Applicable Law, in any material respect;
(b) the Development Entity fails in any material respect to make a payment to the Department under this PPA when due, or fails to deposit funds in the Handback Reserve Account in the amount and within the time period required by this PPA, in either case provided that the relevant payment or deposit (as applicable) is not subject to a good faith Dispute;
(c) the Development Entity fails to obtain, provide and maintain the Insurance Policies in accordance with the requirements of this PPA;
(d) any failure by the Development Entity to comply with Article 29 (Assignment and Transfer; Fundamental Changes);
(e) any representation or warranty made by the Development Entity in the Project Documents or any certificate, schedule, report, instrument or other document delivered to the Department pursuant to the Project Documents is false in any material respect or materially misleading or inaccurate in any material respect when made or omits material information when made;
(f) an Insolvency Event arises with respect to the Development Entity or any Guarantor;
(g) the Development Entity fails to comply with any written suspension of Construction Work order issued by the Department pursuant to Section 7.8 (Suspension of Construction Work) as soon as is practicable, except to the extent that such failure arises as a direct result of a Relief Event;
(h) the Development Entity fails to (a) achieve CNG Readiness in respect of any Project Site by the applicable Long Stop Deadline in respect thereof or (b) achieve Site Completion in respect of all Project Sites (but excluding any expansion of the CNG Equipment Compound consisting of the installation of hydraulic intensifier compressors or additional dispensers to support Commercial Sales at any Project Site that is scheduled to occur after the date of CNG Readiness at such Project Site in accordance with Appendix 1 (Development Entity’s Proposal Commitments)) by the Site Completion Deadline;
(i) a Persistent Breach occurs;
(j) a Persistent Fueling Failure occurs; and
(k) without limitation to clauses (a) to (j) (inclusive), any breach (other than (i) any breach for which a Noncompliance Point could have been assessed, (ii) any breach for which liquidated damages are payable, or (iii) any brea...
Development Entity Default. The occurrence of any one or more of the following events or conditions shall constitute a Development Entity Default:
(a) the Development Entity fails to comply with any Governmental Approvals or Applicable Law, in any material respect;
(b) the Development Entity fails in any material respect to make a payment to the Department under this PPA when due, or fails to deposit funds in the Handback Reserve Account in the amount and within the time period required by this PPA, in either case provided that the relevant payment or deposit (as applicable) is not subject to a good faith Dispute;
(c) the Development Entity fails to obtain, provide and maintain the Insurance Policies in accordance with the requirements of this PPA;
(d) any failure by the Development Entity to comply with Article 28.1 (