Common use of O&M Contractor Events of Default Clause in Contracts

O&M Contractor Events of Default. The following shall constitute events of default on the part of O&M Contractor (each, an “O&M Contractor Event of Default”) under this Agreement: (i) O&M Contractor fails to make any undisputed payment required hereunder within thirty (30) days after written notice thereof has been given to O&M Contractor; (ii) any representation or warranty of O&M Contractor in this Agreement proves to have been false or misleading in any material respect when made, and O&M Contractor has not, within thirty (30) days after written notification thereof from Owner, fully remedied all adverse impacts on Owner resulting therefrom; provided that such thirty (30) day period may be extended to sixty (60) days; provided, further, that O&M Contractor has commenced and is at all times diligently pursuing such remedy; (iii) O&M Contractor (A) files a petition or otherwise commences, authorizes, or acquiesces in the commencement of a proceeding or cause of action under any bankruptcy, insolvency, reorganization, or similar law, or has any such petition filed or commenced against it, (B) has a petition filed or commenced against it for a proceeding or cause of action under any bankruptcy, insolvency, reorganization, or similar law and such petition is not dismissed within sixty (60) days of its filing, (C) makes an assignment or any general arrangement for the benefit of creditors, (D) otherwise becomes bankrupt or insolvent (however evidenced), (E) has a liquidator, administrator, receiver, trustee, conservator, or similar official appointed with respect to it or any substantial portion of its property or assets, or (F) is generally unable to pay its debts as they fall due; (iv) O&M Contractor fails to maintain insurance pursuant to (v) O&M Contractor fails to comply with any material provision of this Agreement not otherwise set forth in this Section 9.1(a) and fails to cure or remedy such failure within thirty (30) days after notice and a written demand is made by Owner to O&M Contractor to cure the same or, if such failure cannot be cured within thirty (30) days, O&M Contractor fails to commence to cure such breach within thirty (30) days after such notice and written demand and thereafter diligently pursue such cure to completion, which cure shall in no event be later than sixty (60) days after such notice; (vi) O&M Contractor’s aggregate annual liability for Performance Liquidated Damages, XXXX Availability Liquidated Damages and XXXX XX Efficiency Liquidated Damages exceeds the Annual Liquidated Damages Cap; or (vii) the BOT Agreement is terminated due to a default by Seller.

O&M Contractor Events of Default. The following shall constitute events of default on the part of O&M Contractor (each, an “O&M Contractor Event of Default”) under this Agreement: (i) O&M Contractor fails to make any undisputed payment required hereunder within thirty (30) days after written notice thereof has been given to O&M Contractor; (ii) any representation or warranty of O&M Contractor in this Agreement proves to have been false or misleading in any material respect when made, and O&M Contractor has not, within thirty (30) days after written notification thereof from Owner, fully remedied all adverse impacts on Owner resulting therefrom; provided that such thirty (30) day period may be extended to sixty (60) days; provided, further, that O&M Contractor has commenced and is at all times diligently pursuing such remedy; (iii) O&M Contractor (A) files a petition or otherwise commences, authorizes, or acquiesces in the commencement of a proceeding or cause of action under any bankruptcy, insolvency, reorganization, or similar law, or has any such petition filed or commenced against it, (B) has a petition filed or commenced against it for a proceeding or cause of action under any bankruptcy, insolvency, reorganization, or similar law and such petition is not dismissed within sixty (60) days of its filing, (C) makes an assignment or any general arrangement for the benefit of creditors, (D) otherwise becomes bankrupt or insolvent (however evidenced), (E) has a liquidator, administrator, receiver, trustee, conservator, or similar official appointed with respect to it or any substantial portion of its property or assets, or (F) is generally unable to pay its debts as they fall due; (iv) O&M Contractor fails to maintain insurance pursuant to to (v) O&M Contractor fails to comply with any material provision of this Agreement not otherwise set forth in this Section 9.1(a) and fails to cure or remedy such failure within thirty (30) days after notice and a written demand is made by Owner to O&M Contractor to cure the same or, if such failure cannot be cured within thirty (30) days, O&M Contractor fails to commence to cure such breach within thirty (30) days after such notice and written demand and thereafter diligently pursue such cure to completion, which cure shall in no event be later than sixty (60) days after such notice; (vi) O&M Contractor’s aggregate annual liability for Performance Liquidated Damages, XXXX Availability Liquidated Damages and XXXX XX Efficiency Liquidated Damages exceeds the Annual Liquidated Damages Cap; or (vii) the BOT Agreement is terminated due to a default by Seller.