Events of Default, Breach and Revocation Payments. The Electing Municipality and MLP explicitly acknowledge and agree that in the event that the MLP, acting pursuant to its own authority, at the direction of the Electing Municipality, or otherwise, commits an Event of Default as defined herein, then the MLP shall be deemed to have materially breached this Agreement; provided, however, that if the MLP cures or remedies any Event of Default to MassCEC’s satisfaction within thirty (30) days of the first occurrence thereof, no material breach will be deemed to exist. For purposes of this Agreement, an “Event of Default” shall mean any event in which the MLP (a) purports to revoke its Irrevocable Renewable Energy Trust Fund Membership Decision or in any way takes action contrary to it, (b) fails to impose or collect the MassCEC Renewable Energy Trust Fund Charge and/or timely remit the MassCEC Renewable Energy Trust Fund Charge to MassCEC’s Renewable Energy Trust Fund, thereby revoking the Irrevocable MassCEC Renewable Energy Trust Fund Membership by default, or (c) is otherwise noncompliant with the material terms and conditions of this Agreement, including without limitation a breach of the representations and warranties set forth herein.
