Nonperformance and Payment Default Sample Clauses

Nonperformance and Payment Default. 33 12.1. Nonperformance by Project Participants 33 12.2. Payment Default 33 12.3. Payment Default Notice 34 12.4. Cured Payment Default 34 12.5. Suspension of Project Participant’s Project Revenue Rights 34 12.6. Termination and Disposal of Project Participant’s Project Rights 35 12.7. Step-Up Invoices. 35 12.8. Step-Up Allocation of Project Participant’s Project Rights 36 12.9. Elimination or Reduction of Payment Obligations 38 ARTICLE 13 LIABILITY 38 13.1. Project Participants’ Obligations Several 38 13.2. No Liability of CCP or Project Participants, Their Directors, Officers, Etc.; CCP, The Project Participants’ and CCP Manager’s Directors, Officers, Employees Not Individually Liable 39 13.3. Extent of Exculpation; Enforcement of Rights 39 13.4. No General Liability of CCP 39 13.5. Indemnification 39
Sample 1
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Nonperformance and Payment Default. 31 12.1. Nonperformance by Project Participants 31 12.2. Payment Default 32 12.3. Payment Default Notice 32 12.4. Cured Payment Default 32 12.5. Suspension of Project Participant’s Project Revenue Rights 32 12.6. Termination and Disposal of Project Participant’s Project Rights 33 12.7. Step-Up Invoices. 33 12.8. Step-Up Allocation of Project Participant’s Project Rights 34 12.9. Elimination or Reduction of Payment Obligations 36
Sample 1
Nonperformance and Payment Default 
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Related to Nonperformance and Payment Default

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately.

  • Customer Default The occurrence at any time of any of the following events shall constitute a “Customer Default”:

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