Common use of Remedies for Event of Default Clause in Contracts

Remedies for Event of Default. If at any time an Event of Default with respect to a Defaulting Party has occurred and is continuing, the other Party (the “Non-Defaulting Party”) shall, without (except as otherwise provided in Section 8.3) limiting the rights or remedies available to the Non-Defaulting Party under this Agreement or applicable Law, have the right: (a) by notice to the Defaulting Party, to designate a date, not earlier than twenty (20) Business Days after the date such notice is effective, as an early termination date (“Early Termination Date”) in respect of this Agreement; (b) to withhold any payments due to the Defaulting Party under this Agreement; and (c) to suspend performance due to the Defaulting Party under this Agreement. In the event that the Non-Defaulting Party designates an Early Termination Date, this Agreement will terminate as of the Early Termination Date.

Appears in 2 contracts

Samples: Energy Management Services Contract, Energy Management Services Contract

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Remedies for Event of Default. If at any time an Event of Default with respect to a Defaulting Party has occurred and is continuing, the other Party (the “Non-Defaulting Party”) shall, without (except as otherwise provided in Section 8.3) limiting the rights or remedies available to the Non-Non- Defaulting Party under this Agreement Agreement, applicable law or applicable Lawin equity, have the right: (a) by notice to the Defaulting Party, to designate a date, not earlier than twenty the date of such notice and not later than thirty (2030) Business Days after the date such notice is effectivedate, as an early termination date (“Early Termination Date”) in respect of this Agreement; (b) to withhold any payments due to the Defaulting Party under this AgreementAgreement until such Event of Default is resolved; and (c) to suspend performance due to the Defaulting Party under this AgreementAgreement until such Event of Default is resolved. In the event that If the Non-Defaulting Party designates an Early Termination Date, this Agreement will terminate as of the Early Termination Date. Any Host Customer remedies in the event of a System Owner default are subject to Lender cure rights as set forth in Section 19.3.

Appears in 2 contracts

Samples: Solar Power Purchase Agreement, Purchase Agreement

Remedies for Event of Default. If at any time an Event of Default with respect to a Defaulting Party has occurred and is continuing, the other Party (the “Non-Defaulting Party”) shall, without (except as otherwise provided in Section 8.3) limiting the rights or remedies available to the Non-Defaulting Party under this Agreement Agreement, applicable law or applicable Lawin equity, have the right: (a) by notice to the Defaulting Party, to designate a date, not earlier than twenty (20) the date of such notice and not later than 20 Business Days after the date such notice is effectivedate, as an early termination date (“Early Termination Date”) in respect of this Agreement; (b) to withhold any payments due to the Defaulting Party under this AgreementAgreement until such Event of Default is resolved; and (c) to suspend performance due to the Defaulting Party under this AgreementAgreement until such Event of Default is resolved. In the event that the Non-Non- Defaulting Party designates an Early Termination Date, this Agreement will terminate as of the Early Termination Date. Any Purchaser remedies in the event of a System Owner default are subject to Lender cure rights as set forth in Section 18.3.

Appears in 1 contract

Samples: Solar Energy Power Purchase Agreement

Remedies for Event of Default. If at any time an Event of Default with respect to a Defaulting Party has occurred and is continuing, the other Party (the “Non-Defaulting Party”) shall, without (except as otherwise provided in Section 8.3) limiting the rights or remedies available to the Non-Defaulting Party under this Agreement Agreement, applicable law or applicable Lawin equity, have the right: : (a) by notice to the Defaulting Party, to designate a date, not earlier than twenty the date of such notice and not later than thirty (2030) Business Days after the date such notice is effectivedate, as an early termination date (“Early Termination Date”) in respect of this Agreement; (b) to withhold any payments due to the Defaulting Party under this AgreementAgreement until such Event of Default is resolved; and (c) to suspend performance due to the Defaulting Party under this AgreementAgreement until such Event of Default is resolved. In If the event that the Non-Non- Defaulting Party designates an Early Termination Date, this Agreement will terminate as of the Early Termination Date. Any Customer remedies in the event of a System Owner default are subject to Lender cure rights as set forth in Section 18.3.

Appears in 1 contract

Samples: Power Purchase Agreement

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Remedies for Event of Default. If at any time an Event of Default with respect to a Defaulting Party has occurred and is continuing, the other Party (the “Non-Defaulting Party”) shall, without (except as otherwise provided in Section 8.3) limiting the rights or remedies available to the Non-Defaulting Party under this Agreement Agreement, applicable law or applicable Lawin equity, have the right: (a) by notice to the Defaulting Party, to designate a date, not earlier than twenty the date of such notice and not later than thirty (2030) Business Days after the date such notice is effectivedate, as an early termination date (“Early Termination Date”) in respect of this Agreement; (b) to withhold any payments due to the Defaulting Party under this AgreementAgreement until such Event of Default is resolved; and (c) to suspend performance due to the Defaulting Party under this AgreementAgreement until such Event of Default is resolved. In the event that If the Non-Defaulting Party designates an Early Termination Date, this Agreement will terminate as of the Early Termination Date. Any Host Customer remedies in the event of a System Owner default are subject to Lender cure rights as set forth in Section 19.3.

Appears in 1 contract

Samples: Solar Energy Power Purchase and Sale Agreement

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