Events of Default and Termination Events. (i) The following provisions of Section 5 will not apply to either Party A or Party B: Section 5(a)(ii) Section 5(a)(iii) Section 5(a)(iv) Section 5(a)(v) Section 5(a)(vi) Section 5(b)(iii) Section 5(b)(iv)
Events of Default and Termination Events. (i) The “
Events of Default and Termination Events. The following Events of Default and Termination Events shall apply to Party A and Party B as set forth below:
Events of Default and Termination Events. The following Events of Default and Termination Events shall apply to Party A and Party B as set forth below: Event of Default/Termination Event Applies to Party A Applies to Party B Section 5(a)(i) Payment Default No No Section 5(a)(ii) Breach of Agreement No No Section 5(a)(iii) Credit Support Default No No Section 5(a)(iv) Misrepresentation No No Section 5(a)(v) Default Under Specified Transaction Yes Yes Section 5(a)(vi) Cross Default No No Section 5(a)(vii) Bankruptcy Yes Yes Section 5(a)(viii) Merger Without Assumption No No Section 5(b)(i) Illegality Yes Yes Section 5(b)(ii) Tax Event No No Section 5(b)(iii) Tax Event Upon Merger No No Section 5(b)(iv) Credit Event Upon Merger No No Section 5(b)(v) Additional Termination Events No No
Events of Default and Termination Events. Breach of Agreement" provisions of Section 5(a)(ii) will apply amended as following: "Failure by the party to comply with or perform any obligation in accordance with this Agreement if such failure is not remedied on or before the thirtieth day after notice of such failure is given to the party".
Events of Default and Termination Events in which case the transfer value shall (unless otherwise agreed by the Secretary of State) be nil.”
Events of Default and Termination Events. (a) The occurrence at any time with respect to a party or, if applicable, any Credit Support Provider of such party or any Specified Entity of such party of any of the following events constitutes an Event of Default (an Event of Default) with respect to such party:--
Events of Default and Termination Events. Sections 5(a) and 5(b) of this Agreement are hereby modified with respect to Party B, such that the occurrence at any time with respect to any Party B Group Member or, if applicable, any Specified Entity or Credit Support Provider of Party B, of any of the events set forth in clauses (i) through (viii) of Section 5(a) or (i) through (v) of Section 5(b), shall constitute an Event of Default or Termination Event, as applicable, with respect to Party B and each Party B Group Member.
Events of Default and Termination Events. Amendments to Events of Default Section 5(a)(i) of the Master Agreement by deleting the following phrase “if such failure is not remedied on or before the third Local Business Day after notice of such failure is given to the party.”
Events of Default and Termination Events. Any one of the following shall constitute an event of default and/or termination event:- If the said rent hereby reserved or any part shall at any time be unpaid for a period exceeding twenty-one (21) days after becoming due and payable (whether formally demanded or not); If any covenants (in particular as provided in Clause 5 hereof) on the part of the Tenant shall not have been performed or observed; If this Agreement is terminated or repudiated or deemed to be repudiated by the Tenant otherwise than in accordance with this Agreement; If the Demised Premises shall become vacant or deserted or abandoned for a continuous period of seven (7) days during the said term of the tenancy; It the Tenant ceases to carry on business and/or his business or trading license or any other license or permit allowing his to carry on such business had been revoked, cancelled or terminated by the relevant authority or authorities; If the Tenant commits any act of bankruptcy or being a company, a winding-up order is made or a resolution is passed for the winding up or dissolution of the Company; If the Tenant fails to satisfy any judgment or a distress or execution order issued against him or any of his properties by a court of competent jurisdiction within fourteen (14) days from the date of such judgment or order; If the Tenant is arrested or charged or convicted of any offence under any law of the country or does anything which in the opinion of PPES imperils or put at risk the Demises Premises or the renewal of any insurance policy, land title, permits or license issued by any authority; If the Tenant refuses PPES its right to entry in accordance with any provision of this Agreement; If a notice to quit or to surrender the said land or any part thereof is served or is deemed to be served on PPES by the State Government or any relevant authority or a third party claiming interest therein or in the Demised Premises; or If the Demised Premises becomes unfit for human occupation and/or use.
