Events of Default by Seller. In addition to the Events of Default described in Section 9.1, each of the following shall constitute an Event of Default by Seller hereunder:
Events of Default by Seller. The occurrence of any of the following shall constitute an Event of Default by Seller: if at any time during the Term, Seller delivers or attempts to deliver to the Point of Interconnection for sale under this Agreement electric energy that was not generated by the Facility; if at any time subsequent to the Commercial Operations Date, the Modified Pooled OMC Equipment Availability Factor is less than 84% for each of three consecutive Contract Years; if at any time subsequent to the Commercial Operations Date, the Measured Performance Ratio for each of three consecutive Contract Years falls below the Tier 2 Bandwidth for such Contract Year; if at any time subsequent to the Commercial Operations Date, the BOP Efficiency Ratio is less than BOP Benchmark Minus 6 for each of three consecutive Contract Years; if at any time subsequent to the Commercial Operations Date, the Seller fails to demonstrate satisfaction of the XXXX Capacity Performance Metric prior to the expiration of the XXXX Capacity Cure Period; if at any time subsequent to the Commercial Operations Date, the Seller fails to achieve a XXXX Annual Equivalent Availability Factor of not less than 75% for each of six (6) consecutive XXXX Measurement Periods as provided in Section 2.9(b) (XXXX Guaranteed Availability Termination Date); if at any time subsequent to the Commercial Operations Date, the Seller fails to demonstrate satisfaction of the RTE Performance Metric prior to the expiration of the RTE Cure Period; if at any time subsequent to the Commercial Operations Date, the Facility is unavailable to provide electric energy in response to Company Dispatch for a period of three hundred sixty-five (365) or more consecutive Days; if at any time during the Term, Seller fails to satisfy the requirements of Article 14 (Credit Assurance and Security) of this Agreement; if at any time during the Term, Seller fails to comply with the requirements of Section 19.1 (Sale of Facility) and Attachment P (Sale of Facility by Seller); or if at any time subsequent to the Commercial Operations Date, Seller fails to install, operate, maintain, or repair the Facility in accordance with Good Engineering and Operating Practices if such failure is not cured within thirty (30) Days after written notice of such failure from Company unless such failure cannot be cured within said thirty (30) Day period and Seller is making commercially reasonable efforts to cure such failure, in which case Seller shall have a cure period of...
Events of Default by Seller. In addition to the Events of Default described in Section 9.1, it shall constitute an Event of Default by Seller hereunder if: Taking of Facility Assets. Any asset of Seller that is material to the construction, operation or maintenance of the Facility or the performance of its obligations hereunder is taken upon execution or by other process of law directed against Seller, or any such asset is taken upon or subject to any attachment by any creditor of or claimant against Seller (other than, in each case, by a Lender upon a default by Seller with respect to the Financing for the Facility) and such attachment is not disposed of within sixty (60) days after such attachment is levied; or Failure to Maintain Credit Support. The failure of Seller to provide, maintain and/or replenish the Development Period Security or the Operating Period Security as required pursuant to Article 6 of this Agreement, and such failure continues for more than five (5) Business Days after Buyer has provided written notice thereof to Seller; or Energy Output. The failure of the Facility to produce Energy for twenty-four (24) consecutive months during the Services Term for any reason, including due in whole or in part to a Force Majeure; or Failure to Satisfy ISO-NE or Interconnection Tariff Obligations. The failure of Seller to satisfy, or cause to be satisfied (other than by Buyer), any material obligation under the Interconnection Tariff, or the ISO-NE Rules or ISO-NE Practices or any other material obligation with respect to ISO-NE, and such failure has a material adverse effect on the Facility or Seller’s ability to perform its obligations under this Agreement or on Buyer or Buyer’s ability to receive the benefits under this Agreement, provided that if Seller’s failure to satisfy any material obligation under the ISO-NE Rules or ISO-NE Practices does not have a material adverse effect on Buyer or Buyer’s ability to receive the benefits under this Agreement, Seller may cure such failure within thirty (30) days of its occurrence; or Failure to Meet Critical Milestones. The failure of Seller to satisfy any Critical Milestone by the date set forth therefor in Section 3.1(a), as the same may be extended in accordance with Section 3.1(c); or Eligible Technology. The failure of the Facility at any time to use an Eligible Technology to produce all of the Energy and RECs; or
Events of Default by Seller. 10.1.2.1 Seller’s failure to post or increase the Carry-Over Letter of Credit within ten (10) Business Days after the end of each month as may be required under Section 5.1.4.
10.1.2.2 Seller’s failure to cause the Facility to achieve (a) an average of the applicable CAFms of at least [?%] in any three (3) consecutive quarters in a Contract Year or (b) achieve an average of the applicable CAFms of at least [?%] in three (3) out of any five (5) consecutive Contract Years.
10.1.2.3 Seller’s failure to post and maintain Credit Support as required by Section 7 if the failure is not cured within five (5) days after Buyer gives Seller a notice of the default.
10.1.2.4 Seller’s failure to achieve a milestone by the date set forth for the achievement of that milestone in Section 2.2 (other than the failure to achieve the Commercial Operation Date by the Guaranteed Commercial Operation Date) if the failure is not cured within thirty (30) days after Xxxxx gives Seller a notice of the default.
10.1.2.5 Seller’s failure to cause the Facility to achieve the Commercial Operation Date on or before [ ] days following the Guaranteed Commercial Operation Date. [note to bidders: insert number of days; this will be a material component of the evaluation of your bid; the nature of the resource will be considered. The lowest feasible numeral is encouraged.]
10.1.2.6 Seller’s failure to cure any default under any Required Facility Documents (including the Interconnection Agreement) within the time allowed for a cure under such agreement or instrument.
10.1.2.7 Seller’s sale of energy from the Facility to a Party other than Buyer in breach of this Agreement if Seller does not permanently cease such sale and compensate Buyer for the damages arising from the breach within ten
Events of Default by Seller. It shall constitute an Event of Default by Seller if Seller breaches any material obligation under this Agreement that proves to have a material adverse effect on Buyer and fails to cure the breach within thirty (30) Business Days after notification by Buyer of the breach. Events of Default in this Section 8.3 are subject to specific performance and monetary damages pursuant to Section 8.5 (Remedies).
Events of Default by Seller. The occurrence of any of the following shall constitute an Event of Default by Seller:
(A) if at any time during the Term, Seller delivers or attempts to deliver to the Point of Interconnection for sale under this Agreement electric energy that was not generated by the Facility;
(B) if at any time subsequent to the In-Service Date, Seller fails to provide electric energy to Company for a period of three hundred sixty-five (365) or more consecutive Days, unless such failure is caused by the inability of Company to accept such electric energy;
(C) failure by Seller to deliver from the Facility at least sixty percent (60%) of the Annual Contract Energy to the Point of Interconnection for a period of three consecutive Contract Years;
(D) if at any time during the Term, Seller fails to satisfy the Credit Assurance and Security requirements agreed to pursuant to Article 14 (Credit Assurance and Security) of this Agreement;
(E) if at any time subsequent to the In-Service Date, Seller fails to install, operate, maintain, or repair the Facility in accordance with Good Engineering and Operating Practices if such failure is not cured without thirty (30) Days after written notice of such failure from Company unless such failure cannot be cured within said thirty (30) Day period and Seller is making commercially reasonable efforts to cure such failure, in which case Seller shall have a cure period of 365 Days after Company's written notice of such failure.
Events of Default by Seller. Seller shall be in defa happening or occurrence of any of the following events or c "Event of Default" for purposes of this Agreement:
a. Seller breaches or fails to observe or perform under this Agreement, other than the obligations described i within thirty (30) days after written notice from EKPC specifying the nature of such breach or failure, Seller either cures such breach or failure or, if such cure cannot reasonably be effected by the payment of money and cannot reasonably be completed within thirty (30) days, commences such cure during the initial thirty (30) day period and thereafter diligently pursues such cure during such additional period of time as is reasonably necessary to cure such breach or failure.
b. Seller is dissolved, or Seller's existence is terminated or its business is discontinued, unless this Agreement is assigned to a successor pursuant to Article XI.
c. Seller fails to pay, when due, any amount due hereunder, and such failure continues for a period of seven (7) business days following the receipt by Seller of a written notice of such failure from EKPC.
d. Any representation or warranty of Seller set forth in this Agreement was false or misleading in any material respect when made, unless: (i) the fact, circumstance or condition that is the subject of such representation or warranty is made true within thirty (30) days after EKPC has given notice thereof to Seller; provided, however, that if the fact, circumstance or condition that is the subject of such representation or warranty cannot be corrected within such thirty (30) day period and if Seller commences to correct the fact, circumstance or condition that is the subject of such representation during the initial thirty (30) day period, and thereafter proceeds with all due diligence, to correct the fact, circumstance or condition that is the subject of such representation or warranty, such period shall be extended for such further period as shall be reasonably necessary for Seller to correct the same with all due diligence; and (ii) such cure removes any adverse effect on EKPC of such fact, circumstance or condition being otherwise than as first represented, or such fact, circumstance or condition being otherwise than as first represented does not materially adversely affect EKPC.
e. Seller shall: (i) file a voluntary petition in bankruptcy or file a voluntary petition or otherwise commence any action or proceeding seeking reorganization, liquidation, arrangement or readjustm...
Events of Default by Seller. In addition to the Events of Default described in Section 8.1, it shall constitute an Event of Default by Seller hereunder if: ∑(RV – CV) + P N
Events of Default by Seller. The occurrence of any of the following shall be an “Event of Default” by SELLER under this Agreement:
12.3.1 The failure of SELLER to pay any sum to PURCHASER required to be paid by SELLER hereunder when the same shall became due and payable and such failure shall continue for thirty (30) days after written notice from PURCHASER to SELLER;
12.3.2 Failure to proceed to Closing when and in the manner required to do so under the terms and conditions of this Agreement.
12.3.3 If any of the representations made by SELLER in Section 11.2 of this Agreement shall be false or incorrect in any material respect, and SELLER shall fail to cause, within thirty (30) days following notice of such misrepresentation to SELLER by PURCHASER, such representation to become true and correct as of a date within such thirty (30) day period; or
12.3.4 If SELLER shall fail to observe or perform one or more of the other terms, conditions, covenants or agreements contained in this Agreement and such failure shall continue for a period of thirty (30) days after written notice thereof by PURCHASER to SELLER specifying such failure, unless such failure requires work to be performed, acts to be done, or conditions to be removed which cannot, by their nature or because of Unavoidable Delays, reasonably be performed, done or removed, as the case may be, within such thirty (30) day period, in which case no Event of Default shall be deemed to exist as long as SELLER shall have commenced curing the same within such thirty (30) day period, and shall, subject to Unavoidable Delays, diligently and continuously prosecute the same to completion.
Events of Default by Seller. 10.1.2.1 Seller’s failure to post or increase the Carry-Over Letter of Credit within ten (10) Business Days after the end of each month as may be required under Section 5.1.4.
10.1.2.2 Seller’s failure to cause the Facility to achieve (a) an average of the applicable CAFms of at least [?%] in any three (3) consecutive quarters in a Contract Year or (b) achieve an average of the applicable CAFms of at least [?%] in three (3) out of any five (5) consecutive Contract Years.
10.1.2.3 Seller’s failure to post and maintain Credit Support as required by Section 7 if the failure is not cured within five (5) days after Buyer gives Seller a notice of the default.
10.1.2.4 Seller’s failure to achieve a milestone by the date set forth for the achievement of that milestone in Section 2.2 (other than the failure to achieve the Commercial Operation Date by the Guaranteed Commercial Operation Date) if the failure is not cured within thirty (30) days after Buyer gives Seller a notice of the default.
