Network Rail Events of Default. The following are Network Rail Events of Default:
Network Rail Events of Default. The following are Network Rail Events of Default:
(a) Network Rail ceases to be authorised to be the operator of that part of the Network comprising the Routes by a licence granted under section 8 of the Act unless exempt from the requirement to be so authorised under section 7 of the Act;
(b) an Insolvency Event occurs in relation to Network Rail;
(i) any breach by Network Rail of this contract, its Safety Obligations or any of the Collateral Agreements; or
(ii) any event or circumstance which is reasonably likely to result in any such breach, which, by itself or taken together with any other such breach, event or circumstance the Train Operator reasonably considers constitutes a threat to the safe operation of the Services or any Ancillary Movements; and
(d) any breach of this contract or any material breach of any of the Collateral Agreements by Network Rail which, by itself or taken together with any other such breach, results, or is likely to result, in material financial loss to the Train Operator.
Network Rail Events of Default. The following are Network Rail Events of Default:
(a) Network Rail ceases to be authorised to be the operator of that part of the Network comprising the Routes by a licence granted under section 8 of the Act unless exempt from the requirement to be so authorised under section 7 of the Act;
(b) an Insolvency Event occurs in relation to Network Rail;
(c) (i) any breach by Network Rail of this contract, its Safety Obligations or any of the Collateral Agreements; or
Network Rail Events of Default. The following shall be Network Rail Events of Default:-
(1) Network Rail ceases to be authorised to be the operator of that part of the Network comprised in the Route by a licence granted under section 8 of the Act unless otherwise exempt from the requirement to be so authorised under section 7 of the Act;
(2) an Insolvency Event occurs in relation to Network Rail;
(3) any breach by Network Rail of this Agreement or of the Safety Obligations or any material breach of the Collateral Agreements which, by itself or taken together with any other such breach by Network Rail, Nexus reasonably considers constitutes a serious threat to the safe operation of the Metro System Operational Area;
(4) any material amount due from Network Rail to the Train Operator pursuant to Schedule 4 or Schedule 8 remains unpaid for 14 days after its due date except where liability to pay any such sum shall be contested by Network Rail in good faith and with timely recourse to appropriate means of redress; and
(5) any breach of this Agreement by Network Rail (other than of the kind referred to in (3) above) which, by itself or taken together with any other such breach, results, or will or is likely to result, in serious financial loss to Nexus.
Network Rail Events of Default. The following are Network Rail Events of Default:
(a) Network Rail ceases to be authorised to be the operator of the Network by a licence granted under section 8 of the Act unless exempt from the requirement to be so authorised under section 7 of the Act;
(b) an Insolvency Event occurs in relation to Network Rail; (c)
(i) any breach by Network Rail of this contract, its Safety Obligations or any of the Collateral Agreements; or
(ii) any event or circumstance which is reasonably likely to result in any such breach, which, by itself or taken together with any other such breach, event or circumstance the Train Operator reasonably considers constitutes a threat to the safe operation of the Services or any Ancillary Movements; and
Network Rail Events of Default. The following are Network Rail Events of Default:
(a) Network Rail ceases to be authorised to be the operator of the Network by a licence granted under section 8 of the Act unless exempt from the requirement to be so authorised under section 7 of the Act;
(b) an Insolvency Event occurs in relation to Network Rail;
(c) [Not used];
(d) any breach of this contract by Network Rail which, by itself or taken together with any other such breach, results, or is likely to result, in material financial loss to the Freight Customer; and
(e) an Operator Access Agreement Event of Default occurs under any Operator Access Agreement pursuant to which, at the time of such Operator Access Agreement Event of Default, an Appointed Operator is entitled to operate any of the Services.
Network Rail Events of Default. The following are Network Rail Events of Default: Network Rail ceases to be authorised to be the operator of the Network by a licence granted under section 8 of the Act unless exempt from the requirement to be so authorised under section 7 of the Act; an Insolvency Event occurs in relation to Network Rail; any breach by Network Rail of this contract, its Safety Obligations or any of the Collateral Agreements; or any event or circumstance which is reasonably likely to result in any such breach, which, by itself or taken together with any other such breach, event or circumstance the Train Operator reasonably considers constitutes a threat to the safe operation of the Services or any Ancillary Movements; and any breach of this contract or any material breach of any of the Collateral Agreements by Network Rail which, by itself or taken together with any other such breach, results, or is likely to result, in material financial loss to the Train Operator.
Network Rail Events of Default.
(a) Network Rail ceases to be authorised to be the operator of the Network by a licence granted under section 8 of the Act unless exempt from the requirement to be so authorised under section 7 of the Act;
(b) an Insolvency Event occurs in relation to Network Rail;
(c) [Not used];
(d) any breach of this contract by Network Rail which, by itself or taken together with any other such breach, results, or is likely to result, in material financial loss to the Freight Customer; and
(e) an Operator Access Agreement Event of Default occurs under any Operator Access Agreement pursuant to which, at the time of such Operator Access Agreement Event of Default, an Appointed Operator is entitled to operate any of the Services.
