Common use of EVENT OF DEFAULT AND SPECIFIC PERFORMANCE Clause in Contracts

EVENT OF DEFAULT AND SPECIFIC PERFORMANCE. Notwithstanding any other provision to the contrary herein, the Parties agree that it will be an Event of Default if (i) a Party fails, pursuant to Article 4.2(a), to cure a breach of any material provision of, or obligation under, this ESA, including but not limited to the provisions of Article 6, (ii) a Party becomes Bankrupt, (iii) in the case of Competitive Supplier, the Competitive Supplier fails to provide All-Requirements Supply as set forth in and subject to Article 4.2(d), (iv) a Party modifies, suspends or terminates the Program during the Term, except where such modification, suspension or termination is, through no fault of the Party, required by Governmental Rules, (v) a Party seeks to terminate this ESA except as expressly authorized in this ESA, including Article 4.2, or (vi) the Aggregator fails to maintain any required Minimum Balance or make Monthly Distributions as required in accordance with Article 5.4.2 provided that Competitive Supplier has first fully exercised its remedies under Article 5.4.2(f). Upon an Event of Default by Aggregator, Competitive Supplier shall be entitled to specific performance of this ESA as its sole remedy. The Parties acknowledge and agree that because monetary damages are not available to Competitive Supplier under this ESA, there is no remedy at law adequate to compensate Competitive Supplier for the Aggregator’s actions as described in (i), (iv) or (v), and further agree that Competitive Supplier will suffer irreparable harm if the Aggregator takes any of the actions described in (i), (iv), (v), or (vi) herein.