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 (“Non-Defaulting Party”) shall, without limiting the rights or remedies available to the Non- Defaulting Party under this Agreement, applicable law or in equity, have the right: (a) by notice to the Defaulting Party, to designate a date, not earlier than the date of such notice and not later than thirty (30) Business Days after such date, 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 until such Event of Default is resolved; and (c) to suspend performance due to the Defaulting Party under this Agreement until such Event of Default is resolved. 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: Services Agreement, 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 limiting the rights or remedies available to the Non- Non-Defaulting Party under this Agreement, applicable law or in equity, have the right: (a) by notice to the Defaulting Party, to designate a date, not earlier than the date of such notice and not later than thirty (30) 20 Business Days after such date, 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 until such Event of Default is resolved; and (c) to suspend performance due to the Defaulting Party under this Agreement until such Event of Default is resolved. If In the Non-event that the Non- Defaulting Party designates an Early Termination Date, this Agreement will terminate as of the Early Termination Date. Any Host Customer Purchaser remedies in the event of a System Owner default are subject to Lender cure rights as set forth in Section 19.318.3.

Appears in 1 contract

Samples: Solar Energy 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 (“Non-Defaulting Party”) shall, without limiting the rights or remedies available to the Non- Non-Defaulting Party under this Agreement, applicable law or in equity, have the right: (a) by notice to the Defaulting Party, to designate a date, not earlier than the date of such notice and not later than thirty (30) Business Days after such date, 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 until such Event of Default is resolved; and (c) to suspend performance due to the Defaulting Party under this Agreement until such Event of Default is resolved. 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: Agreement

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