Government Default. The issuance to a Borrower or any Subsidiary or (a) a cure notice or a show-cause notice relating to a possible termination for default under any contract which is either a contract with a Governmental Authority or is a subcontract (at any tier) which is related to a contract between a third party and Governmental Authority and, within thirty (30) calendar days after the date of such notice, no written notification is received by such Borrower or such Subsidiary from the cognizant contracting officer or customer official stating that a termination will not occur; or (b) a notice of actual termination of default (complete or partial), under any such contract or subcontract; provided, however, that no Event of Default shall be declared based upon clauses (a) or (b) of this Section 7.
Government Default. Each of the following events or circumstances shall be a “Government Default”:
1 1.2.1 failure by GoR to perform any of its material obligations under this Agreement or any Project Document, which failure is not remedied within sixty (60) Days of the time by which such obligation was required to be fulfilled;
Government Default. Simultaneously with termination for a Government Default, this Agreement shall terminate.
Government Default. The issuance to a Borrower or any Subsidiary of (a) a cure notice or a show-cause notice relating to a possible termination for default under any contract which is either a contract with a Governmental Authority or is a subcontract (at any tier) which is related to a contract between a third party and Governmental Authority and, within thirty (30) calendar days after the date of such notice, no written notification is received by such Borrower or such Subsidiary from the cognizant contracting officer or customer official stating that a termination will not occur; or (b) a notice of actual termination of default (complete or partial), under any such contract or subcontract; provided, however, that no Event of Default shall be declared based upon clauses (a) or (b) of this Section 7.1.17 if the notice in question is issued at a time when the Unearned Contract Value of the contract or subcontract in question is less than $500,000.
Government Default. The following events shall constitute a Government default—
a. any material breach or material default of this Agreement that remains uncured or unremedied by the Government after a period of 30 days following receipt by the Government of notice of such breach or default from the Investor;
b. any breach of the obligations set out in Clause 5;
c. failure of the Government to comply with the provisions of the Saint Xxxxxxxxxxx and Nevis Citizenship by Investment Regulations, 2023 and any future regulations or other laws governing the St Kitts and Nevis Citizenship By Investment program.
Government Default
