Project Company Events of Default Sample Clauses

Project Company Events of Default. Each of the events or circumstances set out in this Schedule 2 is a Project Company event of default (a “Project Company Event of Default”). A reference to “it” or to “its” in this Schedule 2 is a reference to the Project Company.
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Project Company Events of Default. The Project Company shall be in default under this Agreement upon the occurrence of any of the following events set forth in subsections (a) to (r) below (each a "Project Company Event of Default"); provided, however, that none of such events shall constitute a Project Company Event of Default if such event (a) results from a breach or default by GPA under this Agreement or the LLA or (b) occurs as a result of, or during, a Force Majeure pursuant to ARTICLE 17. Subject to the provison in the preceding sentence, the following are Project Company Events of Default: the failure of Project Company to achieve Financial Close by the Required Financial Closing Date [due to the failure of the Project Company, in the reasonable opinion of GPA, to use commercially reasonable efforts to do so]; the failure of Project Company to issue Notice to Proceed to the Construction Contractor within two (2) Business Days after Financial Close; prior to the achievement of the Phase 1 Commercial Operation Date, an Abandonment occurs without GPA's prior written consent and continues for a period of thirty (30) consecutive Days from the receipt of a Notice from GPA; the failure of Project Company to achieve the Phase 1 Commercial Operation Date within a period of one hundred and twenty (120 Days) after the Required Phase 1 Commercial Operation Date; the failure of the Project Company to achieve the Phase 2 Commercial Operation Date within one hundred and twenty (120) Days after the Required Phase 2 Commercial Operation Date; the failure of Project Company to submit the Performance Bond on or before Financial Close; the failure of the Project Company to establish and maintain any Security in accordance with the terms of this Agreement; after the Phase 1 Commercial Operation Date, an Abandonment occurs without the prior written consent of GPA and continues for a period of fifteen (15) consecutive Days from receipt of a Notice from GPA; the failure of the Facility to achieve the Threshold Capacity upon completion of the Phase 2 Commercial Operation Tests under Article 8.1 or, after the Phase 2 Commercial Operation Date, the failure of the Facility to (A) achieve a Dependable Capacity level equal to eighty-five (85%) per cent of the Initial Dependable Capacity after any Dependable Capacity Test and (B) achieve such level of Dependable Capacity after a later Dependable Capacity Test or otherwise make available to GPA such level of capacity, in each case no later than six (6) Months afte...
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Project Company Events of Default. The Project Company shall be in default under this Agreement upon the occurrence of any of the following events set forth in subsections (a) to (r) below (each a "Project Company Event of Default"); provided, however, that none of such events shall constitute a Project Company Event of Default if such event (a) results from a breach or default by GPA under this Agreement or the LLA or (b) occurs as a result of, or during, a Force Majeure pursuant to Article 17. Subject to the provison in the preceding sentence, the following are Project Company Events of Default:
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Project Company Events of Default. A “Project Company Event of Default” means, with respect to any Project Company Subsidiary and related Approved Project, any one or more of the following events: (a) Failure to pay when due any principal or interest on any Working Capital Loans or any portion thereof attributable to such Project Company Guarantor and its Approved Project, when and as the same becomes due and payable, whether at the stated maturity thereof, by mandatory prepayment, by acceleration, demand or otherwise; or
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Related to Project Company Events of Default

  • Additional Events of Default The parties hereto acknowledge, confirm and agree that the failure of Borrower or any Guarantor to comply with any of the covenants, conditions and agreements contained herein or in any other agreement, document or instrument at any time executed by Borrower or any Guarantor in connection herewith shall constitute an Event of Default under the Financing Agreements.

  • Liquidity Events of Default If (a) any Liquidity Event of Default has occurred and is continuing and (b) there is a Performing Note Deficiency, the Liquidity Provider may, in its discretion, deliver to the Borrower a Termination Notice, the effect of which shall be to cause (i) the obligation of the Liquidity Provider to make Advances hereunder to expire on the fifth Business Day after the date on which such Termination Notice is received by the Borrower, (ii) the Borrower to promptly request, and the Liquidity Provider to promptly make, a Final Advance in accordance with Section 2.02(d) hereof and Section 3.6(i) of the Intercreditor Agreement, (iii) all other outstanding Advances to be automatically converted into Final Advances for purposes of determining the Applicable Liquidity Rate for interest payable thereon, and (iv) subject to Sections 2.07 and 2.09 hereof, all Advances (including, without limitation, any Provider Advance and Applied Provider Advance), any accrued interest thereon and any other amounts outstanding hereunder to become immediately due and payable to the Liquidity Provider.

  • Lease Events of Default The following events shall constitute Lease Events of Default hereunder (whether any such event shall be voluntary or involuntary or come about or be effected by operation of law or pursuant to or in compliance with any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body) and each such Lease Event of Default shall be deemed to exist and continue so long as, but only as long as, it shall not have been remedied:

  • Events of Default, Etc During the period during which an Event of Default shall have occurred and be continuing:

  • Certain Events of Default The following Events of Default will apply to the parties as specified below, and the definition of “Event of Default” in Section 14 is deemed to be modified accordingly:

  • No Events of Default No Event of Default has occurred and is continuing nor has any event occurred which, with the giving of notice or the passage of time, or both, would constitute an Event of Default.

  • Other Events of Default Determination by COUNTY, the State Fair Employment Commission, or the Federal Equal Employment Opportunity Commission of discrimination having been practiced by CONTRACTOR in violation of State and/or Federal laws thereon.

  • Events of Default Any of the following shall constitute an Event of Default:

  • Definition of Events of Default “Event of Default” means the occurrence of any of the following:

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