Common use of Operator’s Event of Default Clause in Contracts

Operator’s Event of Default. Any of the following events shall constitute an Event of Default by the Operator (“Operator’s Event of Default”) unless such event has occurred as a result of a Force Majeure Event: 27.1.1 Operator is in breach of any of its obligations under this Agreement and the same has not been remedied for more than [60 (sixty)] days; 27.1.2 A resolution for voluntary winding up has been passed by the shareholders of the Operator; 27.1.3 Any petition for winding up of Operator has been admitted and liquidator or provisional liquidator has been appointed or Operator has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction, provided that, as part of such amalgamation or reconstruction the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Operator under this Agreement; 27.1.4 Operator fails to comply with the Applicable laws, rules and regulations. 27.1.5 Any representation made or warranties given by the Operator under this Agreement or under the RFP document is found to be false or misleading. 27.1.6 Operator fails to maintain/ refurbish/ replenish the Performance security as per terms of this Agreement. 27.1.7 Operator stands incapable of supply of single fully built bus as per the specifications. 27.1.8 Operator suspends or abandons the operations of Contracted Buses without the prior consent of Authority, provided that the Operator shall be deemed not to have suspended/ abandoned operation if such suspension/ abandonment was (i) as a result of Force Majeure Event and is only for the period such Force Majeure is continuing, or (ii) is on account of a breach of its obligations under this Agreement by the Authority. 27.1.9 The Operator repudiates this Agreement or otherwise evidences an intention not to be bound by this Agreement. 27.1.10 The Operator failed to make any payments/damages/damages due to Authority within period specified in this Agreement or indicated by Authority without any valid reason. 27.1.11 The Operator failed to perform any of the Operator’s obligations, which has a Material Adverse Effect on the Agreement 27.1.12 Operator creates an Encumbrance over the Contracted Buses, Bus Depot, Terminals or Parking Spaces. 27.1.13 Operator fails to adhere to the timelines set forth in the Agreement for performance of Operator’s obligations there under; and reason thereof damages as provided exceeds value specified in the clause 25.2; 27.1.14 Repeated occurrence of breach of Operator’s obligations specified in this Agreement and which shall not be remedied in Remedial Period specified by Authority; and 27.1.15 Any other default/breach of its obligation by the Operator, for which default/breach termination has been prescribed in terms of this Agreement. The Operator fails to repay any debt / loan raised by the Operator for the purpose of financing the Bus Body Building from institutional Lenders such as Banks.

Operator’s Event of Default. Any of the following events shall constitute an Event of Default by the Operator (“Operator’s Event of Default”) unless such event has occurred as a result of a Force Majeure Event: 27.1.1 34.1.1 Operator is in breach of any of its obligations under this Agreement and the same has not been remedied for more than [60 (sixty)] days; 27.1.2 34.1.2 A resolution for voluntary winding up has been passed by the shareholders of the Operator; 27.1.3 34.1.3 Any petition for winding up of Operator has been admitted and liquidator or provisional liquidator has been appointed or Operator has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction, provided that, as part of such amalgamation or reconstruction the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Operator under this Agreement; 27.1.4 34.1.4 Operator fails to comply with the Applicable laws, rules and regulations. 27.1.5 34.1.5 Operator does not abide by Consortium conditions specified in Agreement and else where in the RFP. 34.1.6 Operator does not share APIs and Interfacing protocols of its ITS equipment with Authority. 34.1.7 Any representation made or warranties given by the Operator under this Agreement or under the RFP document is found to be false or misleading. 27.1.6 34.1.8 Operator fails to maintain/ refurbish/ replenish the Performance security as per terms of this Agreement. 27.1.7 34.1.9 Operator stands incapable of supply of single fully built bus as per the specifications. 27.1.8 34.1.10 Operator suspends or abandons the operations of Contracted Buses without the prior consent of Authority, provided that the Operator shall be deemed not to have suspended/ abandoned operation if such suspension/ abandonment was was (i) as a result of Force Majeure Event and is only for the period such Force Majeure is continuing, or or (ii) is on account of a breach of its obligations under this Agreement by the Authority. 27.1.9 34.1.11 The Operator repudiates this Agreement or otherwise evidences an intention not to be bound by this Agreement. 27.1.10 34.1.12 The Operator failed to make any payments/damages/damages due to Authority within period specified in this Agreement or indicated by Authority without any valid reason. 27.1.11 34.1.13 The Operator failed to perform any of the Operator’s obligations, which has a Material Adverse Effect on the this Agreement 27.1.12 34.1.14 Operator creates an Encumbrance over the Contracted Busesbus depot, Bus Depot, Terminals terminals or Parking Spaces. 27.1.13 34.1.15 Operator fails to adhere to the timelines set forth in the this Agreement for performance of Operator’s obligations there under; and reason thereof damages as provided in Clause 31 exceeds value specified in the clause 25.2of Performance Security; 27.1.14 34.1.16 Repeated occurrence of breach of Operator’s obligations specified in this Agreement and which shall not be remedied in Remedial Period specified by Authority; and 27.1.15 34.1.17 Any other default/breach of its obligation by the Operator, for which default/breach termination has been prescribed in terms of this Agreement. . 34.1.18 The Operator fails to repay any debt / loan raised by the Operator for the purpose of financing the Bus Body Building from institutional Lenders such as BanksBanks and Financial Institutions.

Operator’s Event of Default. Any of the following events shall constitute an Event of Default by the Operator theOperator (“Operator’s Event of Default”) unless such event has occurred as a result of a Force Majeure Event: 27.1.1 21.1.1. Operator is in breach of any of its obligations under this Agreement agreement and the same has not been remedied for more than [60 10 (sixtyTen)] days; 27.1.2 21.1.2. A resolution for voluntary winding up has been passed by the shareholders of the Operator; 27.1.3 21.1.3. Any petition for winding up of Operator has been admitted and liquidator or provisional liquidator has been appointed or Operator has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction, provided that, as part of such amalgamation or reconstruction the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Operator under this Agreement; 27.1.4 21.1.4. Operator fails to comply with the Applicable laws, rules and regulations. 27.1.5 21.1.5. Any representation made or warranties given by the Operator under this Agreement or under the RFP document is found to be false or misleading. 27.1.6 21.1.6. Operator fails to maintain/ refurbish/ replenish the Performance security deposit as per terms of this Agreement. 27.1.7 Operator stands incapable of supply of single fully built bus as per the specifications. 27.1.8 21.1.7. Operator suspends or abandons the operations of Contracted Buses 11 Sidhi Lawn without the prior consent of Authority, provided that the Operator shall be deemed not to have suspended/ abandoned operation if such suspension/ abandonment was (i) as a result of Force Majeure Event and is only for the period such Force Majeure is continuing, or (ii) is on account of a breach of its obligations under this Agreement by the Authority. 27.1.9 The Operator repudiates this Agreement or otherwise evidences an intention not to be bound by this Agreement. 27.1.10 21.1.8. The Operator failed to make any payments/damages/damages due to Authority within period specified in this Agreement or indicated by Authority without any valid reason. 27.1.11 21.1.9. The Operator failed to perform any of the Operator’s obligations, which has a Material Adverse Effect on the Agreement. 27.1.12 21.1.10. Operator creates an Encumbrance over the Contracted Buses, Bus Depot, Terminals 11 sidhi lawn or Parking its Spaces. 27.1.13 Operator fails to adhere to the timelines set forth 21.1.11. Construction in the Agreement for performance of Operator’s obligations there under; and reason thereof damages as provided exceeds value specified Prohibited Area or Renovation, alteration, construction without approval from the competent authority in the clause 25.2;regulated area. 27.1.14 21.1.12. Organising or providing the lawn/ any area of the lawn for any activity which is not permitted in this agreement or approval not availed from the concerned authority for the activity in which permission is compulsory in this agreement. 21.1.13. Repeated occurrence of breach of Operator’s obligations specified in this Agreement and which shall not be remedied in Remedial Period specified by Authority; and 27.1.15 Any other default/breach of its obligation by the Operator, for which default/breach termination has been prescribed in terms of this Agreement. The Operator fails to repay any debt / loan raised by the Operator for the purpose of financing the Bus Body Building from institutional Lenders such as Banks.

Operator’s Event of Default. Any of the following events shall constitute an Event of Default by the Operator (“Operator’s Event of Default”) unless such event has occurred as a result of a Force Majeure Event: 27.1.1 Operator is in breach of any of its obligations under this Agreement and the same has not been remedied for more than [60 (sixty)] days; 27.1.2 A resolution for voluntary winding up has been passed by the shareholders of the Operator; 27.1.3 Any petition for winding up of Operator has been admitted and liquidator or provisional liquidator has been appointed or Operator has been ordered to be wound up by Court of competent jurisdiction, except for the purpose of amalgamation or reconstruction, provided that, as part of such amalgamation or reconstruction the amalgamated or reconstructed entity has unconditionally assumed all surviving obligations of the Operator under this Agreement; 27.1.4 Operator fails to comply with the Applicable laws, rules and regulations. 27.1.5 Any representation made or warranties given by the Operator under this Agreement or under the RFP document is found to be false or misleading. 27.1.6 Operator fails to maintain/ refurbish/ replenish the Performance security as per terms of this Agreement. 27.1.7 The Operator stands incapable of supply of single fully built bus has failed to ensure minimum shareholding requirements as per the specificationsspecified herein. 27.1.8 Operator suspends or abandons the operations of Contracted Buses without the prior consent of Authority, provided that the Operator shall be deemed not to have suspended/ abandoned operation if such suspension/ abandonment was (i) as a result of Force Majeure Event and is only for the period such Force Majeure is continuing, or (ii) is on account of a breach of its obligations under this Agreement by the Authority. 27.1.9 The Operator repudiates this Agreement or otherwise evidences an intention not to be bound by this Agreement. 27.1.10 The Operator failed to make any payments/damages/damages due to Authority within period specified in this Agreement or indicated by Authority without any valid reason. 27.1.11 The Operator failed to perform any of the Operator’s obligations, which has a Material Adverse Effect on the Agreement 27.1.12 Operator creates an Encumbrance over the Contracted Buses, Bus Depot, Terminals or Parking Spaces. 27.1.13 Operator fails to adhere to the timelines set forth in the Agreement for performance of Operator’s obligations there under; and reason thereof damages as provided in Clause 24 exceeds value specified in the clause 25.2of Performance Security; 27.1.14 Repeated occurrence of breach of Operator’s obligations specified in this Agreement and which shall not be remedied in Remedial Period specified by Authority; and 27.1.15 Any other default/breach of its obligation by the Operator, for which default/breach termination has been prescribed in terms of this Agreement. The Operator fails to repay any debt / loan raised by the Operator for the purpose of financing the Bus Body Building from institutional Lenders such as Banks.