Major Default. The Purchasers shall be considered to be in “Major Default” in the event that (a) the Purchasers are in breach of their obligations under the Agreement and (b) such breaches, individually or in the aggregate, resulted or would reasonably be expected to result in (i) material Losses to the Sellers or their Affiliates, (ii) material reputational harm to the Sellers or their Affiliates, (iii) material and adverse regulatory consequences to the Sellers or their Affiliates, for which, in each case of clauses (i) through (iii), indemnification by the Purchasers pursuant to Article 8 of the Agreement would not be sufficient to remedy all damages incurred by the Sellers and their Affiliates or (iv) if the Sellers reasonably determine, based on the advice of counsel, that it would reasonably be expected to be a violation of their fiduciary duties under applicable Law to not terminate the Agreement, taking into account the indemnification by the Purchasers pursuant to Article 8 of the Agreement; provided, that the following breaches shall be excluded, and not taken into account, in determining if a Major Default has occurred: (x) any breach to the extent resulting from any action taken by the Purchasers pursuant to and in accordance with written direction given by the Sellers and (y) any breach to the extent arising out of or resulting from, directly or indirectly, a breach by the Sellers of the Agreement, the Transition Services Agreement or the Purchase Agreement.
Major Default. Major defaults shall be limited to:
Major Default. No Major Default shall have occurred and be continuing.
Major Default. (a) After giving effect to the issuance of the Notes and the other Transactions contemplated by the Transaction Documents, no default is continuing or would result therefrom under Sections 6.4 (Taxes), 6.6 (Corporate Existence), 6.8 (Incurrence of Additional Debt), 6.9 (Restricted Payments), 6.10(a) (Liens), 6.11 (Asset Sales), 6.12 (Merger, Consolidation and Acquisition), 6.17 (Issuance or Sale of Capital Stock of Subsidiaries), 6.20 (Impairment of Security Interest) or 6.25 (Governmental Approvals and Licenses) or clauses (a), (b), (g), (h), (m), (o) or (r) of Section 7.1 (Events of Default), in each case, with respect to any Note Party other than the Company and its Subsidiaries.
Major Default. No Major Default has occurred and is continuing.
Major Default. Either party may invoke Section 16 of this agreement in order to obtain an arbitral decision that the agreement should be terminated if:
Major Default. If the Acceptance Test result shows that the Equipment may not be operated, or cause the damage or loss of data or software, or cause the corruption of data (hereinafter "Major Default"), PARTNER shall inform TELKOM in writing either to (a) cease the Acceptance Test or (b) extend the Acceptance Test period. In case of (a), after the Default is remedied, PARTNER shall inform TELKOM seven (7) days before conducting the retest.
Major Default. Debtor shall be in default under this Agreement upon the happening of any Major Default under the Restructuring Agreement.
Major Default. 11.1. Each of the following events shall constitute a “Major Default” for the purposes of this Agreement:
Major Default. Each of the events set out in this clause 29.5 is a major default by the Concessionaire, whether or not the cause is beyond the control of the Concessionaire or any other person:
