Common use of Events of Default by a Party Clause in Contracts

Events of Default by a Party. The occurrence of any of the following during the Term of the Agreement shall constitute an Event of Default by the Party responsible for the failure, action or breach in question: (A) The failure to make any payments required pursuant to this Agreement when due if such failure is not cured within ten (10) Business Days after written notice is received by the Party failing to make such payment; (B) Any representation or warranty made by such Party herein is false and misleading in any material respect when made; (C) Such Party becomes bankrupt; (D) Such Party fails to comply with an arbitrator's decision under Article 28 (Dispute Resolution), or on Independent Evaluator's decision under Article 23 (Process for Addressing Revisions to Performance Standards), within thirty (30) Days after such decision becomes binding on the Parties in accordance with Article 28 (Dispute Resolution) or within thirty (30) Days of the issuance of such decision under Article 23 (Process for Addressing Revisions to Performance Standards), as applicable, or, if such decision cannot be complied with within thirty (30) Days, such Party fails to have commenced commercially reasonable efforts designed to comply and diligently continued such commercially reasonable efforts until compliance is attained; or (E) A Party, by act or omission, materially breaches or defaults on any material covenant, condition or other provision of this Agreement, other than the provisions specified in Section 15.1 (Events of Default by Seller) and Section 15.2(A) through Section 15.2(D), if such breach or default is not cured within thirty (30) Days after written notice of such breach or default from the other Party unless such breach or default cannot be cured within said thirty (30) Day period and the Non- performing Party is making commercially reasonable efforts to cure such breach or default, in which case the Non-performing Party shall have a cure period of 365 Days of Company's written notice of such breach or default.

Events of Default by a Party. The occurrence of any of the following during the Term of the Agreement shall constitute an Event of Default by the Party responsible for the failure, action or breach in question: (A) The failure to make any payments required pursuant to this Agreement when due if such failure is not cured within ten (10) Business Days after written notice is received by the Party failing to make such payment; (B) Any representation or warranty made by such Party herein is false and misleading in any material respect when made; (C) Such Party becomes bankrupt; (D) Such Party fails to comply with an arbitrator's decision under Article 28 (Dispute Resolution), or on Independent Evaluator's decision under Article 23 (Process for Addressing Revisions to Performance Standards), within thirty (30) Days after such decision becomes binding on the Parties in accordance with Article 28 (Dispute Resolution) or within thirty (30) Days of the issuance of such decision under Article 23 (Process for Addressing Revisions to Performance Standards), as applicable, or, if such decision cannot be complied with within thirty (30) Days, such Party fails to have commenced commercially reasonable efforts designed to comply and diligently continued such commercially reasonable efforts until compliance is attained; or (E) A Party, by act or omission, materially breaches or defaults on any material covenant, condition or other provision of this Agreement, other than the provisions specified in Section 15.1 (Events of Default by Seller) and Section 15.2(A) through Section 15.2(D), if such breach or default is not cured within thirty (30) Days after written notice of such breach or default from the other Party unless such breach or default cannot be cured within said thirty (30) Day period and the Non- Non­ performing Party is making commercially reasonable efforts to cure such breach or default, in which case the Non-performing Party shall have a cure period of 365 Days of Company's written notice of such breach or default.