Financial Related Defaults Sample Clauses

Financial Related Defaults. The occurrence of any of the following events shall constitute an Event of Default (herein so called) hereunder: 1. If we shall fail to perform any of our obligations and covenants under Section 1.14; or 2. If you, in good faith, after reviewing any document or report required to be delivered under Section 1.14, believe that there has been a material and adverse change in our business operations and conditions, financial or otherwise, which in your reasonable opinion will have a materially adverse effect upon the operations, business, property, assets, financial condition or credit of us or you. Remedies -------- Upon the occurrence of an Event of Default in this Section 6.7.3, you shall have the right, at your option, to initiate an alternative dispute resolution by the procedures set forth in Section 6.12. If the dispute is not resolved by mediation, the arbitrators will be instructed to determine whether or not we, in their judgement, are capable of performing our obligations under this Agreement. A decision shall be rendered within three days of the conclusion of mediation or arbitration, as appropriate. We will respond within three business days to any reasonable request for information made by the arbitrators. If the arbitrators' judgment is that we are not capable of performing our obligations under this Agreement for the twelve month period after the arbitrators render their decision, then you shall have the right, in your sole discretion, to elect either (i) to terminate this Agreement, without penalty, and to be relieved of the Minimum Monthly Usage Charges, or (ii) to enter our premises to operate our network assets and direct our employees to the extent necessary to operate the network until the end of the Initial Term of this Agreement, and we shall reimburse you for any reasonable expenses you incur in doing so.