DISCOM Event of Default Sample Clauses

DISCOM Event of Default. 13.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by the SPG of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting DISCOM: (i) DISCOM fails to pay (with respect to a Monthly Bill or a Supplementary Bill), subject to Article 11, for a period of ninety (90) days after the Due Date and the SPG is unable to recover the amount outstanding to the SPG through the Letter of Credit, (ii) DISCOM repudiates this Agreement and does not rectify such breach even within a period of sixty (60) days from a notice from the SPG in this regard; or (iii) If DISCOM becomes voluntarily or involuntarily the subject of proceeding under any bankruptcy or insolvency laws or goes into liquidation or dissolution or has a receiver appointed over it or liquidator is appointed, pursuant to Law, except where such dissolution of DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and creditworthiness similar to DISCOM and expressly assumes all obligations under this agreement and is in a position to perform them.

DISCOM Event of Default. 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure event or a breach by the WtE Developer of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default”): (i) DISCOM fails to fulfil its obligations as laid out in Clause 6.2 (ii) DISCOM fails to pay (with respect to payments due to the WtE Developer according to Article 5), for a period of ninety (90) days after the Due Date of Payment and the WtE Developer is unable to recover the amount outstanding to the WtE Developer through the Letter of Credit, or (iii) DISCOM repudiates this Agreement and does not rectify such breach even within a period of thirty (30) days from a notice from the WtE Developer in this regard; or (iv) except where due to any WtE Developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty

DISCOM Event of Default. The occurrence and continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by Distribution Franchisee of its substantial obligations under this Agreement, shall constitute a DISCOM Event of Default: a) Critical Event of Default

DISCOM Event of Default. The occurrence and continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event or a breach by Distribution Franchisee of its substantial obligations under this Agreement, shall constitute a DISCOM Event of Default: a) Critical Event of Default DISCOM is in material breach of this Agreement and such breach has a material adverse effect on the DF and DISCOM has failed to cure such breach or take effective steps on receipt of notice from the DF for curing such Breach(s) as specified in the notice. DISCOM repudiates this Agreement or otherwise evidences an irrevocable intention not to be bound by this Agreement. b) Non-Critical Event of Default Breach of any other material terms and conditions, as applicable under this Agreement for a consecutive period of thirty (30) days. If the default continues for a period of more than 60 days, it shall become a Critical Event of Default.

DISCOM Event of Default. 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure event or a breach by the solar power developer of its obligations under this Agreement, shall constitute the Event of Default on the part of defaulting DISCOM (“DISCOM Event of Default”): (i) DISCOM fails to pay (with respect to payments due to the solar power developer according to Article 5), for a period of ninety

DISCOM Event of Default. 10.2.1 The occurrence and the continuation of any of the following events, unless any such event occurs as a result of a Force Majeure event or a breach by the solar power developer of its obligations under this (i) DISCOM fails to pay (with respect to payments due to the solar power developer according to Article 5), for a period of ninety (90) days after the Due Date of Payment and the solar power developer is unable to recover the amount outstanding to the solar power developer through the Letter of Credit, or (ii) DISCOM repudiates this Agreement and does not rectify such a breach within a period of thirty (30) days from a notice in writing from the solar power developer in this regard; or (iii) except where due to any solar power developer’s failure to comply with its obligations, DISCOM is in material breach of any of its obligations pursuant to this Agreement, and such material breach is not rectified by DISCOM within thirty (30) days of receipt of notice in writing in this regard from the solar power developer to DISCOM; or (iv) if:-  DISCOM becomes voluntarily or involuntarily the subject of any bankruptcy or insolvency or winding up proceedings and such proceedings remain uncontested for a period of thirty (30) days, or any winding up or bankruptcy or insolvency order is passed against DISCOM, or  DISCOM goes into liquidation or dissolution or a receiver or any similar officer is appointed over all or substantially all of its assets or official liquidator is appointed to manage its affairs, pursuant to law, Provided that it shall not constitute a DISCOM Event of Default, where such dissolution or liquidation of DISCOM or DISCOM is for the purpose of a merger, consolidation or reorganization and where the resulting entity has the financial standing to perform its obligations under this Agreement and has creditworthiness similar to DISCOM and expressly assumes all obligations of DISCOM and is in a position to perform them; or (v) If DISCOM is subject to any of the above defaults and DISCOM does not designate another DISCOM for purchase of Solar Power; or (vi) occurrence of any other event which is specified in this Agreement to be a material breach or default of DISCOM.

DISCOM Event of Default. 9.1.1 The occurrence and continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event shall constitute a Discom Event of Default: (i) Any amount, subject to Article 6.6 remains outstanding beyond a period of ninet y

DISCOM Event of Default. 5.1.1 The occurrence and continuation of any of the following events, unless any such event occurs as a result of a Force Majeure Event, shall constitute a Discom Event of Default: i. Any amount subject to Article 4 remains outstanding beyond a period of sixty (60) days after the Due Date and NTPC is unable to recover the amount outstanding from the Discom through the Letter of Credit, Payment Security Fund and Default Escrow Account; or ii. The Discom fails to evacuate power from the Delivery Points for a continuous period of one day.