No Defaults or Terminations Sample Clauses
The "No Defaults or Terminations" clause establishes that, as of a certain date or throughout the agreement, neither party is in default under the contract nor has the agreement been terminated. In practice, this means that both parties confirm they have met all their obligations up to that point and that the contract remains in full force. This clause is often used as a condition precedent to certain actions, such as closing a transaction or making a payment, ensuring that the agreement is still valid and enforceable. Its core function is to provide assurance that the contractual relationship is intact and that no unresolved breaches exist that could undermine the parties' rights or obligations.
No Defaults or Terminations. Such Solar Asset is not a Defaulted Solar Asset (or, with respect to the related Transfer Date only, the related Host Customer is not more than [***] past due on any portion of a contractual payment due under the related Customer Agreement), a Cancelled Solar Asset or a Terminated Solar Asset.
No Defaults or Terminations. The related Customer Agreement is not in default and the related System is not a Terminated System or Defaulted System. Furthermore, the Host Customer associated with the related Customer Agreement is not a Host Customer for any other Customer Agreement that was originated, acquired and/or serviced by an Affiliate of Borrower that would meet the definition of a Defaulted System.
No Defaults or Terminations. The related Customer Agreement is not a Defaulted Solar Asset or a Terminated Solar Asset.
No Defaults or Terminations. The Solar Loan is not a defaulted Solar Loan.
No Defaults or Terminations. Such TPO Solar Project is not a Defaulted Solar Asset, a Cancelled Solar Asset or a Terminated Solar Asset.
No Defaults or Terminations. No default or event of termination shall have occurred or be continuing under any Project Lease or interconnection agreement.