Milestone Breach Sample Clauses

Milestone Breach. (a) In the event of a failure to comply with any of the Milestones set forth in section 2 above, unless such Milestone is waived or extended by the Consenting Lenders and the Consenting 2024 Noteholders in accordance with section 3(b) below) (each, a “Milestone Breach”), the Company shall automatically have 45 calendar days following the date of the applicable Milestone Breach (or if such date is not a Business Day, on the immediately preceding Business Day) (the “Standstill Period”), during which it may: (i) propose a workaround solution satisfactory to the Consenting Lenders and the Consenting 2024 Noteholders (the “Proposed Workaround”), or (ii) convene and hold a new Creditors’ Meeting for the purpose of voting on an amendment to the Plan (a “New Creditors’ Meeting” and, together with the Proposed Workaround, each a “Viable Solution”), to be presented exclusively by the Company, that is satisfactory to the Consenting Lenders and the Consenting 2024 Noteholders. For the avoidance of doubt and in accordance with the terms of the Plan Support Agreement, during the Standstill Period, the Company shall negotiate in good faith and work constructively with all parties in reaching a Viable Solution, and the Consenting Stakeholders shall not exercise any rights or remedies against the Company.
Sample 1
AutoNDA by SimpleDocs

Related to Milestone Breach

  • Notification of Anticipatory Breach Vendor agrees that should it, for any reason, not be able to provide or maintain appropriate safeguards to fulfill its obligations under this Section, it will immediately inform Citizens in writing of such inability and such inability on Vendor’s part will serve as justification for Citizens’ termination of this Agreement, at Citizens’ sole election, at any time after the inability becomes known to Citizens.

  • Independence from Material Breach Determination Except as set forth in Section X.D.1.c, these provisions for payment of Stipulated Penalties shall not affect or otherwise set a standard for OIG’s decision that CHSI has materially breached this CIA, which decision shall be made at OIG’s discretion and shall be governed by the provisions in Section X.D, below.

  • Termination for Material Breach A party may terminate this Agreement immediately upon notice to the other parties if any of the other parties materially breaches this Agreement, and if capable of cure, does not cure the breach within 10 days after receiving notice specifying the breach. If the material breach affects only certain Services, the non-breaching party that served the notice may choose to terminate only the affected Services.

  • Cure Period Prior to any claim for default being made, either the Buyer or Seller will have an opportunity to cure any alleged default. If either Buyer or Seller fails to comply with any provision of this Agreement, the other party will deliver written notice to the non- complying party specifying such non-compliance. The non-complying party shall have calendar days after delivery of such notice to cure the non-compliance.

  • Material Breach A material breach for purposes of this Agreement shall include, but not be limited to:

  • Termination for a Material Breach Either party may terminate this Agreement for a material breach by the other party. The breaching party will have thirty (30) days from the date of written notice to cure any material breach.

  • BREACH; TERMINATION Failure of either party to comply substantially with any material provision hereof is a breach of the Lease. Should Tenant neglect or fail to perform and observe any of the terms of this Lease, Landlord shall give Tenant written notice of such breach requiring Tenant to remedy the breach or vacate the Premises on or before a date at least 5 days after the giving of such notice, and if Tenant fails to comply with such notice, Landlord may declare this tenancy terminated and institute action to expel Tenant from the leased Premises without limiting the liability of Tenant for the rent due or to become due under this Lease. If Tenant has been given such notice and has remedied the breach or been permitted to remain in the Premises, and within one year of such previous breach, Tenant commits a similar breach, this Lease may be terminated if, before the breach has been remedied, Landlord gives notice to Tenant to vacate on or before a date at least 14 days after the giving of the notice as provided in sec. 704.17

  • Missed Meal Breaks (a) (applicable to full-time employees only) If an employee is authorized to work, during the lunch break, due to the requirements of patient care, he will be paid time and one-half (1½) his regular straight time hourly rate for all time worked in excess of his normal daily hours.

  • Options upon Breach by Consultant If Consultant materially breaches any of the terms of this Agreement, City’s remedies shall include, but not be limited to, any or all of the following:

  • Opportunity to Remedy Material Breach If an HSP breaches any material provision of this Agreement, including, but not limited to, the reporting requirements in Article 8 and the representations and warranties in Article 10 and the breach has not been satisfactorily resolved under Article 7, the Funder will give the HSP Notice of the particulars of the breach and of the period of time within which the HSP is required to remedy the breach. The Notice will advise the HSP that the Funder may terminate this Agreement:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!