Common use of Network Rail Events of Default Clause in Contracts

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: (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) and 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.