Common use of Remedies; Declaration of Early Termination Date Clause in Contracts

Remedies; Declaration of Early Termination Date. If an Event of Default with respect to a Defaulting Party shall have occurred and be continuing, the other Party (“ Non- D efaulting Party”) shall have the following rights: (a) to send Notice, designating a day, no earlier than the day such Notice is deemed to be received and no later than twenty (20) days after such Notice is deemed to be received, as an early termination date of this Agreement (“Early Termination Date”) that terminates this Agreement (the “ Terminated Transaction”) and ends the Delivery Term effective as of the Early Termination Date; (b) to accelerate all amounts owing between the Parties, and to collect as liquidated damages (i) the Damage Payment (in the case of an Event of Default by Seller occurring before the Commercial Operation Date, including an Event of Default under Section 11.1(b)(ii)) or (ii) the Termination Payment calculated in accordance with Section 11.3 below (in the case of any other Event of Default by either Party); (c) to withhold any payments due to the Defaulting Party under this Agreement; (d) to suspend performance; or (e) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief, except to the extent such remedies are expressly limited under this Agreement;

Appears in 1 contract

Samples: Renewable Power Purchase Agreement

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Remedies; Declaration of Early Termination Date. If an Event of Default with respect to a Defaulting Party shall have occurred and be continuing, the other Party (Non- D efaulting Defaulting Party”) shall have the following rights: (a) to send Notice, designating a day, no earlier than the day such Notice is deemed to be received and no later than twenty (20) days after such Notice is deemed to be received, as an early termination date of this Agreement (“Early Termination Date”) that terminates this Agreement (the Terminated Transaction”) and ends the Delivery Term effective as of the Early Termination Date; (b) to accelerate all amounts owing between the Parties, and to collect as liquidated damages (i) the Damage Payment (in the case of an Event of Default by Seller occurring before the Commercial Operation Dateor Termination Payment, including an Event of Default under Section 11.1(b)(ii)) or (ii) the Termination Payment as applicable, calculated in accordance with Section 11.3 below (in the case of any other Event of Default by either Party)below; (c) to withhold any payments due to the Defaulting Party under this Agreement; (d) to suspend performance; orand (e) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief, except to the extent such remedies are expressly limited under this Agreement;

Appears in 1 contract

Samples: Energy Storage Agreement

Remedies; Declaration of Early Termination Date. If an Event of Default with respect to a Defaulting Party shall have occurred and be continuing, the other Party (“ Non- D efaulting “Non-Defaulting Party”) shall have the following rights: right (a) to send Notice, designating a day, no earlier than the day such Notice is deemed to be received and no later than twenty (20) days Business Days after such Notice is deemed to be received, as an early termination date of this Agreement (“Early Termination Date”) that terminates this Agreement (the Terminated Transaction”) and ends the Delivery Term effective as of the Early Termination Date; (b) , to accelerate all amounts owing between the Parties, and to collect as liquidated damages (i) the Damage Payment (in the case of an Event of Default by Seller occurring before the Commercial Operation Date, including an Event of Default under Section 11.1(b)(ii)) or (ii) the Termination Payment calculated in accordance with Section 11.3 below 12.3 Termination Payment below; (in the case of any other Event of Default by either Party); (cb) to withhold any payments due to the Defaulting Party under this Agreement; ; (dc) to suspend performance; or and (ed) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive reliefrelief to the extent permitted under this Agreement, except to the extent such remedies are expressly limited under this Agreement;.

Appears in 1 contract

Samples: Power Purchase and Sale Agreement

Remedies; Declaration of Early Termination Date. If an Event of Default with respect to a Defaulting Party shall have occurred and be continuing, the other Party (Non- D efaulting Defaulting Party”) shall have the following rights: (a) to send Notice, designating a day, no earlier than the day such Notice is deemed to be received and no later than twenty (20) days after such Notice is deemed to be received, as an early termination date of this Agreement (“Early Termination Date”) that terminates this Agreement (the Terminated Transaction”) and ends the Delivery Term effective as of the Early Termination Date; (b) to accelerate all amounts owing between the Parties, and to collect as liquidated damages (i) the Damage Payment (in the case of an Event of Default by Seller occurring before prior to the Commercial Operation Date), including an Event of Default under Section 11.1(b)(ii)) or (ii) the Termination Payment (in the case of an Event of Default occurring after the Commercial Operation Date), as applicable, in each case calculated in accordance with Section 11.3 below (in the case of any other Event of Default by either Party)below; (c) to withhold any payments due to the Defaulting Party under this Agreement; (d) to suspend performance; orand (e) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief, except to the extent such remedies are expressly limited under this Agreement;

Appears in 1 contract

Samples: Energy Storage Agreement

Remedies; Declaration of Early Termination Date. If an Event of Default with respect to a Defaulting Party shall have occurred and be continuing, the other Party (Non- D efaulting Defaulting Party”) shall have the following rights: (a) to send Notice, designating a day, no earlier than the day such Notice is deemed to be received and no later than twenty (20) days after such Notice is deemed to be received, as an early termination date of this Agreement (“Early Termination Date”) that terminates this Agreement (the Terminated Transaction”) and ends the Delivery Term effective as of the Early Termination Date; (b) to accelerate all amounts owing between the Parties, and to collect as liquidated damages (i) the Damage Payment (in the case of an Event of Default by Seller occurring before the Commercial Operation Date, including an Event of Default under Section 11.1(b)(ii)) or (ii) the Termination Payment calculated in accordance with Section 11.3 below (in the case of any other Event of Default by either Party); (c) to withhold any payments due to the Defaulting Party under this Agreement; (d) to suspend performance; orand (e) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief, except to the extent such remedies are expressly limited under this Agreement;

Appears in 1 contract

Samples: Power Purchase Agreement

Remedies; Declaration of Early Termination Date. If an Event of Default with respect to a Defaulting Party shall have occurred and be continuing, the other Party (Non- D efaulting Defaulting Party”) shall have the following rights:rights:‌ (a) to send Notice, designating a day, no earlier than the day such Notice is deemed to be received and no later than twenty (20) days after such Notice is deemed to be received, as an early termination date of this Agreement (“Early Termination Date”) that terminates this Agreement (the Terminated Transaction”) and ends the Delivery Term effective as of the Early Termination Date; (b) to accelerate all amounts owing between the Parties, and to collect as liquidated damages (i) the Damage Payment (in the case of an Event of Default by Seller occurring before the Commercial Operation Date, including an Event of Default under Section 11.1(b)(ii)) or (ii) the Termination Payment Payment, as applicable, in each case calculated in accordance with Section 11.3 below (in the case of any other Event of Default by either Party)below; (c) to withhold any payments due to the Defaulting Party under this Agreement; (d) to suspend performance; orand (e) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief, except to the extent such remedies are expressly limited under this Agreement;

Appears in 1 contract

Samples: Renewable Power Purchase Agreement

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Remedies; Declaration of Early Termination Date. If an Event of Default with respect to a Defaulting Party shall have occurred and be continuing, the other Party (Non- D efaulting Defaulting Party”) shall have the following rights:rights:‌‌ (a) to send Notice, designating a day, no earlier than the day such Notice is deemed to be received and no later than twenty (20) days after such Notice is deemed to be received, as an early termination date of this Agreement (“Early Termination Date”) that terminates this Agreement (the Terminated Transaction”) and ends the Delivery Term effective as of the Early Termination Date; (b) to accelerate all amounts owing between the Parties, and to collect as liquidated damages (i) the Damage Payment (in the case of an Event of Default by Seller occurring before the Commercial Operation Date, including an Event of Default under Section 11.1(b)(ii)) or (ii) the Termination Payment calculated in accordance with Section 11.3 below (in the case of any other Event of Default by either Party); (c) to withhold any payments due to the Defaulting Party under this Agreement; (d) to suspend performance; orand (e) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief, except to the extent such remedies are expressly limited under this Agreement;; provided, that payment by the Defaulting Party of the Damage Payment or Termination Payment, as applicable, shall constitute liquidated damages and the Non-Defaulting Party’s sole and exclusive remedy for any Terminated Transaction and the Event of Default related thereto.

Appears in 1 contract

Samples: Power Purchase Agreement

Remedies; Declaration of Early Termination Date. If an Event of Default with respect to a Defaulting Party shall have occurred and be continuing, the other Party (Non- D efaulting Defaulting Party”) shall have the following rights: (a) to send Notice, designating a day, no earlier than the day such Notice is deemed to be received and no later than twenty (20) days after such Notice is deemed to be received, as an early termination date of this Agreement (“Early Termination Date”) that terminates this Agreement (the Terminated Transaction”) and ends the Delivery Term effective as of the Early Termination Date; (b) to accelerate all amounts owing between the Parties, and to collect as liquidated damages (i) the Damage Payment (in the case of an Event of Default by Seller occurring before the Commercial Operation Date, including an Event of Default under Section 11.1(b)(ii)Seller) or (ii) the Termination Payment calculated in accordance with Section 11.3 below (in the case of any other an Event of Default by either PartyBuyer); (c) to withhold any payments due to the Defaulting Party under this Agreement; (d) to suspend performance; orand (e) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief, except to the extent such remedies are expressly limited under this Agreement;

Appears in 1 contract

Samples: Power Purchase and Sale Agreement

Remedies; Declaration of Early Termination Date. If an Event of Default with respect to a Defaulting Party shall have occurred and be continuing, the other Party (Non- D efaulting Defaulting Party”) shall have the following rights: (a) to send Notice, designating a day, no earlier than the day such Notice is deemed to be received and no later than twenty (20) days after such Notice is deemed to be received, as an early termination date of this Agreement (“Early Termination Date”) that terminates this Agreement (the Terminated Transaction”) and ends the Delivery Term effective as of the Early Termination Date; (b) to accelerate all amounts owing between the Parties, and to collect as liquidated damages (i) the Damage Payment (in the case of an Event of Default by Seller occurring before the Commercial Operation Date, including an Event of Default under Section 11.1(b)(ii)) or (ii) the Termination Payment calculated in accordance with Section 11.3 below (in the case of any other Event of Default by either Party); (c) to withhold any payments due to the Defaulting Party under this Agreement; (d) to suspend performance; or (e) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief, except to the extent such remedies are expressly limited under this Agreement;

Appears in 1 contract

Samples: Renewable Power Purchase Agreement

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