PURCHASER'S DEFAULTS. Purchaser shall be considered to be in default hereunder if Purchaser fails to meet, comply with, or perform any material covenant, agreement, representation, warranty, or obligation on its part required within the time limits and in the manner required in this Contract, and such failure was not caused by Seller's default.
PURCHASER'S DEFAULTS. Purchaser shall be deemed to be in default under this Agreement in the event Purchaser fails, for any reason (other than a default by Seller), to perform any of its material obligations under this Agreement or any or all of the Other Sale Agreements within the time limits and in the manner provided for, as applicable, in this Agreement and the Other Sale Agreements, or any representation or warranty made by the Purchaser in this Agreement or any or all of the Other Sale Agreements is untrue or inaccurate in a material respect when made or as of the Closing Date. If Closing does not occur and Purchaser is in default, Purchaser shall pay all of the Shared Closing Costs.
PURCHASER'S DEFAULTS. Any one of the following which occur within [* * *] after the Effective Date (or such longer period if specified herein) shall constitute an event of default by Purchaser (“Purchaser Default”) under this Agreement:
PURCHASER'S DEFAULTS. A. Purchaser shall be deemed to be in default if Purchaser shall fail to deliver, at the Closing, the items required to be delivered by Purchaser to Seller for any reason other than a default by Seller.
B. In the event Purchaser shall be deemed to be in default, as Seller's sole and exclusive remedy for such default, Seller may terminate this Agreement, whereupon Seller shall be entitled to the Xxxxxxx Money, which the Title Company shall deliver to Seller on receipt of written notice from Seller that Purchaser has defaulted. The notice need not be accompanied by any other document or consent of any other party, it being agreed between Purchaser and Seller that the Xxxxxxx Money shall be liquidated damages for a default of Purchaser hereunder because of the difficulty, inconvenience, and uncertainty of ascertaining actual damages for such default.
PURCHASER'S DEFAULTS. It shall be a default by Purchaser under this Agreement (a “Purchaser’s Default”) if any one or more of the following shall occur:
(i) Purchaser shall fail to pay any sum of money under this Agreement when due and payable;
(ii) Purchaser shall fail to perform any of its other covenants and agreements contained in this Agreement when required to be performed hereunder and such failure shall continue for seven (7) Business Days after Seller gives Purchaser written notice of such failure, except that if such failure relates to any covenant or agreement to be performed at Closing, there shall be no notice required or grace or cure period allowed, including the failure to execute and deliver the Promissory Note and Mortgage per the terms of Section 3.01 above; and
(iii) any representation or warranty of Purchaser contained in Section 5.01 of this Agreement shall prove to have been materially false or incorrect when made.
PURCHASER'S DEFAULTS. If Purchaser defaults in its obligations to close hereunder, Seller's sole and exclusive remedy shall be to receive and retain the Downpayment as liquidated damages, it being agreed that Seller's damages in case of Purchaser's default might be impossible to ascertain and that the Downpayment constitutes a fair and reasonable amount of damages under the circumstances and is not a penalty.
PURCHASER'S DEFAULTS. Any of the following events shall be a default by the Purchaser under this Contract unless such event occurred as a result of Seller's breach of its obligations hereunder:
(i) Except in the event that the Seller has failed to pay any taxes or fees due and payable, any PRC Government Authority (including, without limitation any Price Bureau) either (A) revokes or substantially alters any license, permit, or approval previously issued to the Seller or (B) fails to approve the Current Tariff or fails to approve any adjustment in the Current Tariff required to be made hereunder or in accordance with the Electric Tariff Adjustment Method;
(ii) an event of default of the Fuel Supplier under Article 11.2 of the Fuel Contract occurs;
(iii) Purchaser is dissolved or reorganized pursuant to law; provided however, the Purchaser shall not be in default if the newly formed organization expressly assumes Purchaser's obligations described herein, the provisions of Article 13.01 are satisfied, and the financial condition of such newly formed organization is fully acceptable and satisfactory to Seller;
(iv) Purchaser fails to make a payment in accordance with this Contract and such non-payment continues for a period of thirty (30) days following its due date; provided that the Seller shall have the right to suspend delivery of electrical energy to the Purchaser after ten (10) days of such non-payment;
(v) Purchaser materially breaches any other material obligation under this Contract and such circumstances continue unremedied for one hundred eighty (180) days; or
(vi) a breach by the Dispatch Center of the Interconnection and Dispatch Contract.
PURCHASER'S DEFAULTS. It shall be a default by Purchaser under this Agreement (a "PURCHASER'S DEFAULT") if any one or more of the following shall occur:
(i) Purchaser fails to (a) pay the Purchase Price on the Closing Date, or (b) fails to perform its other agreements contained in this Agreement and such failure shall continue for five (5) Business Days after Seller gives Purchaser notice of such failure; or
(ii) any representation or warranty of Purchaser contained in this Agreement shall prove to have been materially false, incorrect or incomplete when made.
PURCHASER'S DEFAULTS. 37 12.4 Sellers' Remedy......................................... 37 12.5 Liquidated Damages to Purchaser......................... 38
PURCHASER'S DEFAULTS. Purchaser shall be considered to be in default -------------------- hereunder prior to Closing only if the emergency motion described in Section 4.1 is timely filed and served in accordance with Section 4.1 and Purchaser thereafter fails to meet, comply with or perform any material covenant, agreement or obligation on its part and such failure was not preceded by a Seller's default.
