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-Defaulting Party”) shall have the 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) 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, to accelerate all amounts owing between the Parties, and to collect liquidated damages calculated in accordance with Section 12.3 Termination Payment below; (b) to withhold any payments due to the Defaulting Party under this Agreement; (c) to suspend performance; and (d) to exercise any other right or remedy available at law or in equity, including injunctive relief 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

AutoNDA by SimpleDocs

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-Defaulting “ Non- D efaulting Party”) shall have the right 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) Business Days 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 12.3 Termination Payment below; 11.3 below (bin the case of any other Event of Default by either Party); (c) to withhold any payments due to the Defaulting Party under this Agreement; ; (cd) to suspend performance; and or (de) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief to the extent permitted under this Agreementrelief, except to the extent such remedies are expressly limited under this Agreement.;

Appears in 1 contract

Samples: Renewable 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-Non- Defaulting Party”) shall have the right 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) Business Days 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 12.3 Termination Payment below; 11.3 below (bin the case of any other Event of Default by either Party); (c) to withhold any payments due to the Defaulting Party under this Agreement; ; (cd) to suspend performance; and or (de) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief to the extent permitted under this Agreementrelief, except to the extent such remedies are expressly limited under this Agreement.;

Appears in 1 contract

Samples: Renewable 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-Non- Defaulting Party”) shall have the right 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) Business Days 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 occurring prior to the Commercial Operation Date), 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 12.3 Termination Payment 11.3 below; ; (bc) to withhold any payments due to the Defaulting Party under this Agreement; ; (cd) to suspend performance; and and (de) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief to the extent permitted under this Agreementrelief, 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-Non- Defaulting Party”) shall have the right 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) Business Days 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) or (ii) the Termination Payment calculated in accordance with Section 12.3 Termination Payment below; 11.3 below (bin the case of an Event of Default by Buyer); (c) to withhold any payments due to the Defaulting Party under this Agreement; ; (cd) to suspend performance; and and (de) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief to the extent permitted under this Agreementrelief, except to the extent such remedies are expressly limited under this Agreement.;

Appears in 1 contract

Samples: Power Purchase and Sale Agreement

AutoNDA by SimpleDocs

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-Non- Defaulting Party”) shall have the right 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) Business Days 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 or (ii) the Termination Payment, as applicable, in each case calculated in accordance with Section 12.3 Termination Payment 11.3 below; ; (bc) to withhold any payments due to the Defaulting Party under this Agreement; ; (cd) to suspend performance; and and (de) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief to the extent permitted under this Agreementrelief, except to the extent such remedies are expressly limited under this Agreement.;

Appears in 1 contract

Samples: Renewable 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-Non- Defaulting Party”) shall have the right 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) Business Days 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 the Damage Payment or Termination Payment, as applicable, calculated in accordance with Section 12.3 Termination Payment 11.3 below; ; (bc) to withhold any payments due to the Defaulting Party under this Agreement; ; (cd) to suspend performance; and and (de) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief to the extent permitted under this Agreementrelief, 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-Non- Defaulting Party”) shall have the right 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) Business Days 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 12.3 Termination Payment below; 11.3 below (bin the case of any other Event of Default by either Party); (c) to withhold any payments due to the Defaulting Party under this Agreement; ; (cd) to suspend performance; and and (de) to exercise any other right or remedy available at law or in equity, including specific performance or injunctive relief to the extent permitted under this Agreementrelief, except to the extent such remedies are expressly limited under this Agreement.;

Appears in 1 contract

Samples: Power Purchase Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!