Event of Default Termination. 11.1 Each and every of the following events shall constitute an Event of Default -
11.1.1 if the Owner fails to pay the Builder any amount which becomes payable by it pursuant to this Agreement on the due date for such payment; and/or
11.1.2 if the Owner commits a breach of a term of this Agreement and/or the Building Loan; and/or
11.1.3 if the Owner repudiates this Agreement and/or the Building Loan; and/or
11.1.4 if the Owner commits an act of insolvency, as contemplated in the Insolvency Act No. 24 of 1936, as amended; and/or
11.1.5 if the Owner’s shareholder/s and/or directors propose or pass a resolution for its liquidation or winding-up or to place it under business rescue proceedings; and/or
11.1.6 if any circumstances exist which may result in the Owner being placed under business rescue proceedings, whether voluntarily or on application by a third party; and/or
11.1.7 if a third party launches an application in terms whereof such third party seeks to place the Owner under business rescue proceedings; and/or
11.1.8 if the Owner or Builder has an order granted against or in respect of it, in terms of which that Party is sought to be provisionally or finally wound up, liquidated, dissolved, sequestrated or has any equivalent application or proceedings brought against it in terms of any equivalent applicable legislation; and/or
11.1.9 if the Builder, without cause, wholly suspends the Works before the completion thereof and fails to re-commence with the Works within a period of 30 (thirty) days of being called upon to do so by the Owner in writing; and/or
11.1.10 if the Builder refuses to execute the Works in accordance with industry norms and persists in its refusal for a period of 30 (thirty) days after being called upon by the Owner in writing to rectify its breach.
11.2 If an Event of Default occurs, then, notwithstanding, without detraction from and in addition to any other right which the Parties may have, in terms of or arising from this Agreement or at law, the Builder or the Owner, as the case may be shall be entitled -
11.2.1 to immediately cease to perform any further Works in so far as such Works are not complete, pending rectification of the breach;
Event of Default Termination. TT4P reserves the right to immediately terminate your Subscription and use of the Service under upon an Event of Default and without notice. An Event of Default shall include but not be limited to: (a) breaches or violations of this Agreement or other policies of TT4P by you; (b) requests by law enforcement or other government agencies; (c) a request by you; (d) discontinuance or material modification to the Websites or Services (or any part thereof); (e) unexpected technical or security issues or problems; (f) engagement by you in fraudulent or illegal activities; (g) nonpayment of any amounts owed by you in connection with the Subscription and Service; and (h) any conduct by you that TT4P finds inappropriate in its sole discretion. You agree that TT4P shall not be responsible or liable to you or any third party for termination of the use of the Websites, Service or Subscription and for the inability to access any information, products, services and third-party links as a result of such termination. TT4P shall not be responsible or liable for notifying any third party of the termination of your use or forwarding any unread or unsent e-mails from any account that you may have to you or any third party.
Event of Default Termination. In the event that either Party commits an Event of Default, the other Party may, by giving written notice to the defaulting Party, immediately terminate or suspend this Service Agreement. The foregoing notwithstanding, the non-defaulting Party may pursue any legal remedies it may have under applicable law or principles of equity relating to such breach and subject to the terms of this Section.
Event of Default Termination. (Financial / Non Financial)
Event of Default Termination. The occurrence of any of the following shall constitute an “Event of Default” under this Lease:
(a) Tenant fails to pay to Landlord, within five (5) Business Days after receipt of Landlord’s notice thereof, any payment of Rent or any other payment required by this Lease to be paid to Landlord, provided however, that Landlord shall not be required to give more than two (2) of such notices in any twelve month period, and thereafter, during such twelve month period, any such Breach shall be an Event of Default without the giving of any such notice.
(b) Tenant fails to maintain the insurance that this Lease requires Tenant to maintain; or uses the Premises for uses other than the Permitted Uses.
(c) This Lease or the estate hereby granted or the unexpired balance of the Lease Term is by operation of law or otherwise, transferred to, devolves upon, or passes to any person other than Tenant except as is expressly permitted by provisions of Section 9.13.
(d) There occurs an Event of Default as expressly specified in other Articles of this Lease, provided however, that the cure period set forth in subsection (f) below (or such shorter period as is set forth in the respective Articles of this Lease) shall apply in each case before an Event of Default is deemed to have occurred.
(e) A petition or proceeding is filed against Tenant by others or is filed by Tenant, or an order for relief is entered with respect to Tenant, under any provision of the Bankruptcy Code or an assignment is made of Tenant’s property for the benefit of creditors or if a receiver, guardian, conservator, or similar officer is appointed to take charge of all or any part of Tenant’s property by a court of competent jurisdiction; unless, except with respect to any such petition or proceeding filed, or order for relief sought, by Tenant, such petition or proceeding or action is dismissed within sixty (60) days after commencement of any such petition, proceeding or action.
(f) Any other Breach of this Lease, if such Breach occurs and continue for thirty (30) days after notice of such Breach is given to Tenant, or such longer period (not to exceed one hundred eighty (180) days) as is reasonably required for cure so long as Tenant commences such cure within thirty (30) days and thereafter diligently prosecutes the correction to completion.
Event of Default Termination. 6.1 Notwithstanding any other provision of this Agreement, if any Event of Default (as defined in the Supply and Offtake Agreement) with respect to the Company, on the one hand, or Xxxx, on the other hand (such defaulting Party, the “Defaulting Party”) has occurred and is continuing, Xxxx (where the Company is the Defaulting Party) or the Company (where Xxxx is the Defaulting Party) (such non-defaulting Party or Parties, the “Non-Defaulting Party”) may, without notice, (i) terminate the Agreement and demand payment of all obligations due to it hereunder by the Defaulting Party and/or (ii) subject to Section 6.2, exercise any rights and remedies provided or available to the Non-Defaulting Party under this Agreement or at law or equity, including all remedies provided under the Uniform Commercial Code and as provided under Section 6.3.
6.2 No delay or failure on the part of the Non-Defaulting Party in exercising any right or remedy to which it may be entitled on account of any Event of Default shall constitute an abandonment of any such right, and the Non-Defaulting Party shall be entitled to exercise such right or remedy at any time during the continuance of an Event of Default.
Event of Default Termination. 4.1 If, during the subsistence of this Agreement:-
4.1.1 the Company is in breach of any of the provisions of this Agreement; or
4.1.2 the Company:-
(i) shall have a winding up petition presented against it in a court of law;
(ii) shall have a decree or order of a court having jurisdiction over it entered against it adjudicating it insolvent, or approving a petition seeking its reorganisation under any applicable insolvency law (otherwise than for the purpose of reconstruction or amalgamation); Subscription Agreement for Preference Shares 6
(iii) shall have a resolution of its shareholders passed for its winding up, liquidation or dissolution;
(iv) shall make any arrangement or composition with, or any assignment for the benefit of its creditors;
(v) shall have an administrator, receiver or receiver and manager appointed over any part of its undertaking or assets; or
(vi) shall cease or threaten to cease to carry on its business; the Investor shall be entitled at its sole and absolute discretion to elect any of the following:-
(a) to effect completion for the said subscription (without prejudice to any of its rights and remedies against the Company) so far as practicable having regard to the defaults which have occurred; or
(b) to revoke the said subscription and terminate this Agreement and shall claim all costs and expenses incurred by the Investor as a result of or in connection with revocation of the said subscription or the termination of this Agreement, as the case may be including the Redemption Price for each of the Preference Shares.
4.2 If, during the subsistence of this Agreement, the Investor fails to pay the Subscription Price on the Completion Date, the Company shall be entitled to and at the sole and absolute discretion of the Company:-
4.2.1 by written notice to the Investor deem the Investor to have effectively withdrawn from the Company and cancel all the subscription; or
4.2.2 commence legal proceedings against the Investor to collect the due and unpaid Subscription Price, including interest and any expenses incurred in the proceedings and collection process.
Event of Default Termination. If, after Authority has reviewed a particular Performance Audit including problem areas, frequency of occurrence, recommended improvements, and compliance, and has considered all relevant evidence presented by Contractor, Authority determines that an event of Default has occurred, then this Agreement may be terminated by Authority at its option pursuant to Section 9.03 without prejudice to any other remedy to which it may be otherwise entitled whether at law, in equity, or under this Agreement. Authority must give written notice of termination, either by mail or personal service, to Contractor, not less than thirty (30) days prior to the date upon which the termination is to become effective.
Event of Default Termination. If an Appointing Member elects to terminate the Participation Agreement pursuant to Section 6.6 upon an Event of Default with respect to the other Appointing Member, the defaulting Member's Interest shall become an Affected Interest as provided in Section 6.6 and the holder thereof shall become a Transferring Holder obligated to sell such Affected Interest pursuant to the applicable terms and conditions of this Article 13.
Event of Default Termination. Except as provided in Section 4(B), if either Party commits an Event of Default, the other Party may, by giving written notice to the defaulting Party, immediately terminate the applicable SOW or the entire Agreement at the election of the terminating party. The foregoing notwithstanding, the non-defaulting party may pursue any legal remedies it may have under applicable law or principles of equity relating to such breach and subject to the terms of this Section.
