Events of Default by Buyer. (each is a Buyer Event of Default):
1) Buyer or Buyer’s agents or representatives fail to make any payments due under this Contract, including payment for any Change Orders.
2) Buyer or Buyer’s agents or representatives unreasonably delay or unreasonably interfere with the Builder in the execution of installing additional options or upgrades.
3) Buyer fails to participate in the Final Customer Walk-Thru Approval and Punch List inspection.
4) Buyer or Buyer’s agents or representatives fail to perform any material agreement contained in this Contract.
5) Buyer, or any person liable for the payment or performance under this Contract, files a petition in bankruptcy, makes an assignment for the benefit of any creditor, is adjudicated as bankrupt or insolvent, or applies for or consents to the appointment of a receiver, trustee or liquidator of all or a substantial part of their or its assets.
Events of Default by Buyer. Buyer shall be in default if any one or -------------------------- more of the following events shall happen:
(i) Buyer shall fail to pay any amount due hereunder and such failure is not cured within fifteen (15) days after receipt of Seller's written notice; or
(ii) Buyer shall fail to perform or comply with any of the other material terms or conditions of this Agreement for reasons other than an event of Force Majeure and such failure, if curable, shall continue without cure for a period of thirty (30) days after written notice thereof from Seller to Buyer; or
(iii) Filing by Buyer of a voluntary petition of bankruptcy or a voluntary petition or answer seeking reorganization, rearrangement or readjustment of its debts, or any relief under any bankruptcy or insolvency act or law, now or hereafter existing, or any agreement by Buyer indicating consent to, approval of, or acquiescence in, any such petition or proceeding; or
(iv) The application by Buyer or the consent or acquiescence of Buyer in the appointment of a receiver or trustee for all or a substantial part of any of its properties or assets; or
(v) The making by Buyer of a general assignment for the benefit of creditors; or
(vi) The admission of Buyer in writing of its inability generally to pay its debts as they mature; or
(vii) The filing of an involuntary petition against Buyer seeking reorganization, rearrangement, or readjustment of its debts or for any other relief under any bankruptcy or insolvency act or law, now or hereafter existing, or the involuntary appointment of a receiver or trustee for Buyer for all or a substantial part of its property or assets, or the issuance of a warrant of attachment, or execution of similar process against a substantial part of the property of Buyer and the continuance of such for ninety (90) days undismissed or undischarged.
Events of Default by Buyer. The following shall each constitute an Event of Default by Buyer:
(a) Buyer breaches any non-monetary material obligation under this Agreement, and fails to cure such breach within thirty (30) Business Days after notification by Seller of the breach.
(b) Buyer fails to make any payment due under this Agreement within forty- five (45) Business Days after such payment is due unless such payment is contested.
(c) If any material representation or warranty made by Buyer in Article VII (Representations and Warranties) of this Agreement proves to have been misleading or false in any material respect when made and to have a material adverse effect on the Seller and Buyer does not cure the underlying facts so as to make such representation or warranty correct and not misleading within ten (10) Business Days of written notice from the Seller.
(d) Any breach by Buyer pursuant to any of the provisions in Section 3.2 (Take-or-Pay for Energy Delivered to Point of Delivery).
(e) Any other material breach of this Agreement not specifically enumerated above. Events of Default in this Section 8.2 are subject to, among other things, specific performance and monetary damages pursuant to Section 8.5 (Remedies).
Events of Default by Buyer. The following shall each constitute an Event of Default by Buyer.
a. Buyer fails to make any payment of uncontested amounts owed under this Agreement within thirty (30) days after such payment is due, and payment of such uncontested amount is not made within thirty (30) days of Seller’s written notice to Buyer of such failure.
b. Buyer breaches or fails to perform or comply with any material covenant or obligation set forth in this Agreement and such failure continues for a period of thirty (30) days after receipt of written notice thereof from Seller to Buyer; provided that if Buyer proceeds with due diligence during such thirty (30) day period to cure such breach and is unable by reason of the nature of the work involved using commercially reasonable efforts to cure the same within the said thirty (30) days, Buyer’s time to do so shall be extended by the time reasonably necessary to cure the same.
c. Fraud or intentional misrepresentation by Buyer with respect to any of the material covenants or agreements of this Agreement.
d. Buyer has an Event of Default which results in termination under the Lease.
Events of Default by Buyer. The following shall each constitute an Event of Default by Buyer:
(i) Buyer fails to make any payment due under the Agreement within thirty
Events of Default by Buyer. The following shall each constitute an “Event of Default” by Buyer:
(a) Buyer breaches any material obligation or covenant (other than one covered by Section 7.1(b) or (c) of this Agreement) and fails to cure such breach within thirty (30) calendar days after written notification of breach by Seller or, if the breach cannot be cured within thirty (30) calendar days, such longer period as may be necessary to cure such breach as long as Buyer is exercising diligent efforts to cure such breach;
(b) Buyer fails to make any payment when due under this Agreement within thirty (30) calendar days after written notice that such payment is due; or
(c) Buyer becomes Bankrupt.
Events of Default by Buyer. The following shall each constitute an event of default by Buyer (“Buyer Event of Default”):
A. Buyer breaches any non-monetary material obligation under the Agreement, and fails to cure such breach within thirty (30) Business Days after notification by Developer of the breach;
B. Buyer fails to make any payment due under this Agreement within forty-five (45) Business Days after such payment is due unless such payment is contested by Buyer;
C. Developer terminates the Lease on account of an Event of Default by Host thereunder;
D. If any material representation or warranty made by Buyer in Article X (Representations and Warranties; Buyer Acknowledgement) of this Agreement proves to have been misleading or false in any material respect when made and such Party does not cure the underlying facts so as to make such representation or warranty correct and not misleading within ten (10) Business Days of written notice from the other Party;
E. Buyer becomes Bankrupt.
Events of Default by Buyer. (1) The following shall each constitute an “Event of Default” by Buyer, if Buyer fails to cure within the period of time set forth in clause (2) below:
(a) Buyer breaches any material obligation (other than one covered by Section 7.1(b) or (c) of this Agreement) and fails to cure such breach within thirty (30) days after written notification of breach by Seller or if the breach cannot be cured within thirty (30) days such longer period as may be necessary to cure such breach as long as Buyer is exercising diligent efforts to cure such default.
(b) Buyer fails to make any payment due under this Agreement within thirty (30) days after written notice that such payment is due.
(c) The initiation of an involuntary proceeding against Buyer under the bankruptcy or insolvency laws, which involuntary proceeding remains unresolved for sixty (60) consecutive days, or in the event of the initiation by Buyer of a voluntary proceeding under the bankruptcy or insolvency laws.
Events of Default by Buyer. (a) The occurrence on or after the Closing of any one or more of the following events shall constitute an "Event of Default" under this Agreement:
(1) Buyer shall fail to pay when due any portion of the Deferred Purchase Price or interest on the Deferred Purchase Price, and such failure shall continue for five (5) days after the due date;
(2) Buyer shall fail to pay any other sum due under this Agreement or the Collateral Documents (other than as described in clause (1) above), and such failure continues for ten (10) days after notice by Seller to Buyer;
(3) Buyer shall fail to observe or perform any covenant contained in Section 17(f), (i), (j), (k), (1), (m), (n), (o) or (p) or the Guarantor shall fail to observe or perform any covenant contained in Xxxxxxx 00(x), (x), (x), (x), (x), (0), (x), (x) or (p) of the Guaranty;
(4) Buyer shall fail to observe or perform any covenant or agreement contained in this Agreement or in the other Purchase Money Documents (other than those covered by clauses (1), (2) or (3) above), or Guarantor or any Subsidiary shall fail to observe or perform any covenant or agreement contained in the Guaranty or any of the other Purchase Money Documents, in either case for 30 days after written notice thereof has been given to Buyer by Seller;
(5) any representation, warranty, certification or statement made by Buyer in this Agreement or any other Purchase Money Document to which it is a party or by the Guarantor or any Subsidiary in the Guaranty or any other Purchase Money Document, or in any certificate, financial statement or other document delivered pursuant hereto or thereto, shall prove to have been incorrect in any material respect when made;
(6) Buyer, and Subsidiary, or Guarantor shall fail to make any payment in respect of any Debt when due or within any applicable grace period;
(7) any event or condition shall occur which results in the acceleration of the maturity of any Debt of Buyer, any Subsidiary or Guarantor or enables (or, with the giving of notice or lapse of time or both, would enable) the holder of such Debt or any Person acting on such holder's behalf to accelerate the maturity thereof;
(8) Buyer, any Subsidiary or Guarantor shall commence a voluntary case or other proceeding seeking liquidation, reorganization or other relief with respect to itself or its debts under any bankruptcy, insolvency or other similar law now or hereafter in effect or seeking the appointment of a trustee, receiver, liquidator, custodia...
Events of Default by Buyer. 40 16.2 Events of Default by Seller. 42 16.3
