Remedies in Case of Default. If this Lease is in default, we may take any one or more of the following actions. If the law requires us to do so, we will give you notice and wait any period of time required before taking any of these actions. We may:
(a) terminate this Lease and your rights to possess and use the System;
(b) suspend our performance under this Lease;
(c) take any reasonable action to correct your default or to prevent our loss; any amount we pay will be added to the amount you owe us and will be immediately due;
(d) require you, at your expense, to return the System or make it available to us in a reasonable manner;
(e) proceed, by appropriate court action, to enforce performance of this Lease and to recover damages for your breach;
(f) disconnect, turn off or take back the System by legal process or self-help, but we may not disturb the peace or violate the law;
(g) report such non-operational status of the System to your utility, informing them that you are no longer net metering;
(h) charge you a reasonable reconnection fee for reconnecting the System to your utility or turning your System back on after we disconnect or turn off the System due to your default;
(i) recover from you (i) all accrued but unpaid Monthly Payments, taxes, late charges, penalties, interest and all or any other sums then accrued or due and owing, plus (ii) the unpaid balance of the aggregate rent, each payment discounted to present value at 5% per annum, plus (iii) reasonable compensation, on a net after tax basis assuming a tax rate of 35%, for the loss or recapture of (A) the investment tax credit equal to thirty percent (30%) of the System cost, including installation; and (B) accelerated depreciation over five (5) years equal to eighty five percent (85%) of the System cost, including installation, and for the loss of any anticipated benefits pursuant to Section 9 of this Lease (SolarCity shall furnish you with a detailed calculation of such compensation if such a claim is made); or
(j) use any other remedy available to us in this Lease or by law. You agree to repay us for any reasonable amounts we pay to correct or cover your default. You also agree to reimburse us for any costs and expenses we incur relating to the System’s return resulting from early termination. By choosing any one or more of these remedies, SolarCity does not give up its right to use another remedy. By deciding not to use any remedy should this Lease be in default, SolarCity does not give up our right to use that reme...
Remedies in Case of Default. Section 7.1. If any of the following events occurs, it is hereby defined as and is declared to be and to constitute an “event of default”:
(a) Default in the due and punctual payment of the interest on any bonds hereby secured and outstanding;
(b) Default in the due and punctual payment of the principal of any bond hereby secured, whether at the stated maturity thereof, or upon proceedings for the redemption thereof;
(c) Default in the performance or observance of any other of the covenants or agreements of the Authority in this Indenture or in any supplemental indenture, or in the bonds, contained, and the continuance thereof for a period of sixty (60) days after written notice thereof to the Authority by the Trustee;
(d) If the Authority: (1) admits in writing its inability to pay its debts generally as they become due; (2) files a petition in bankruptcy; (3) makes an assignment for the benefit of its creditors; or (4) consents to or fails to contest the appointment of a receiver or trustee for itself or of the whole or any substantial part of the Project;
(e) If the Authority: (1) is adjudged insolvent by a court of competent jurisdiction; (2) on a petition in bankruptcy filed against the Authority is adjudged a bankrupt; or (3) if an order, judgment or decree be entered by any court of competent jurisdiction appointing, without the consent of the Authority, a receiver or trustee of the Authority or of the whole or any substantial part of the Project, and any of the aforesaid adjudications, orders, judgments or decrees shall not be vacated or set aside or stayed within sixty (60) days from the date of entry thereof;
(f) If any judgment shall be recovered against the Authority or any attachment or other court process issue that shall become or create a lien upon any of its property, and such judgment, attachment, or court process shall not be discharged or effectually secured within sixty (60) days;
(g) If the Authority shall file a petition under the provisions of the U.S. Bankruptcy Code, as amended (“Bankruptcy Code”), or file answer seeking the relief provided in the Bankruptcy Code;
(h) If a court of competent jurisdiction shall enter an order, judgment or decree approving a petition filed against the Authority under the provisions of the Bankruptcy Code, and such judgment, order or decree shall not be vacated or set aside or stayed within one hundred twenty-three (123) days from the date of the entry thereof;
(i) If, under the provisions of any oth...
Remedies in Case of Default. If an Event of Default shall occur, Beneficiary or Trustee may exercise any one or more of the following rights and remedies, in addition to any other remedies that may be available by law, in equity, or otherwise:
Remedies in Case of Default. 6.01. If any one or more of the following events shall occur and be continuing:
(a) default shall be made by Tenant in the due and punctual payment of Basic Rent as and when the same becomes due and payable, and such default shall continue for a period of ten (10) days after notice from Landlord to Tenant; or
(b) default shall be made by Tenant in the performance of any other term or provision of this Lease and such default shall continue for a period of twenty (20) days after notice by Landlord to Tenant; or
(c) Tenant shall file a voluntary petition in bankruptcy or shall be adjudicated a bankrupt or insolvent or shall file any petition or answer seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future bankruptcy or other applicable law, or shall seek or consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Tenant or of all or any substantial part of Tenant's property or its leasehold interest in the Premises, or shall make any general assignment for the benefit of creditors, or shall admit in writing its inability to pay its debts generally as they become due; or
(i) a court of competent jurisdiction shall enter an order, judgment or decree approving a petition filed against Tenant seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future bankruptcy or other applicable law, or (ii) any trustee, receiver or liquidator of Tenant or of all or any substantial part of Tenant's property or its leasehold interest in the Premises shall be appointed without the consent or acquiescence of Tenant; and such order, judgment, decree or appointment shall remain unvacated or unstayed for an aggregate of sixty (60) days (whether or not consecutive); or
(e) default shall be made by Tenant in the performance of any term or provision of any lease or sublease (other than this Lease) covering any premises used for software development business purposes in conjunction with the Premises; then, in any such event, Landlord, at its option, by notice to Tenant, may designate a date not less than thirty (30) days from the giving of such notice on which this Lease shall terminate in all respects as if such a date were the Expiration Date.
6.02. Upon any such termination, Tenant shall quit and peacefully surrender its interest in the Premises to Landlord, and Landlord, upon and at any time aft...
Remedies in Case of Default. If this Power Purchase Agreement is in default, we may take any one or more of the following actions. If the law requires us to do so, we will give you notice and wait any period of time required before taking any of these actions. We may:
Remedies in Case of Default. (a) Whenever the Lessee fails to comply with any of the provisions of the Act, or the terms and stipulations of this lease, or of the regulations issued under the Act, or of any order issued pursuant to those regulations, and that default shall continue for a period of thirty (30) days after service of notice by the Lessor, the Lessor may (1) suspend operations until the requested action is taken to correct the noncompliance, or (2) cancel the lease in accordance with Sec. 12 of the Act (30 U.S.C. 1011). However, the 30-day notice provision applicable to this lease under Sec. 12 of the Act shall also apply as a prerequisite to the institution of any legal proceedings by the Lessor to cancel this lease while it is in a producing status. Nothing in this subsection shall be construed to apply to, or require any notice with respect to any legal action instituted by the Lessor other than an action to cancel the lease pursuant to Sec. 12 of the Act.
(b) Whenever the Lessee fails to comply with any of the provisions of the Act, or of this lease, or the regulations, or of any GRO Orders, or other orders, and immediate action is required, the Lessor without waiting for action by the Lessee may enter on the leased lends and take such measures as it may deem necessary to correct the failure, including a suspension of operations or production, all at the expense of the Lessee.
(c) A waiver of any particular violation of the provisions of the Act, or of this lease, or of any regulations promulgated by the Secretary under the Act, shall not prevent the cancellation of this lease or the exercise of any other remedy or remedies under paragraphs (a) and (b) of this section by reason of any other such violation, or for the same violation occurring at any other time.
(d) Nothing herein shall limit or effect the Lessee's right to a hearing and appeal as provided in Sec. 12 of the Act and in the regulations promulgated thereunder.
(e) Upon cancellation, the Lessee shall remove all property in accordance with Sec. 24 hereof, and shall restore the leased lands in a manner acceptable to the Lessor or as may be otherwise required by the Lessor.
Remedies in Case of Default. 8.1 The occurrence of any one or more of the foregoing events, by the mere lapse of time for performance and, unless expressly otherwise provided hereunder or pursuant to the terms of the CREDIT AGREEMENT, without the necessity of any notice or other proceeding, shall constitute an EVENT OF DEFAULT. Upon the occurrence of any EVENT OF DEFAULT (and without prejudice to the demand nature of any of the INDEBTEDNESS), the GRANTOR will lose the benefit of any term for payment granted by the CREDITOR and all INDEBTEDNESS will become immediately due and payable and the GRANTOR will, without the necessity of demand or notice (other than as may be required by law) repay the INDEBTEDNESS to the CREDITOR, failing which, in addition to all hypothecary rights and other remedies and recourses presently or in the future available under law:
8.1.1 the CREDITOR may immediately take proceedings for the recovery of all or any portion of the INDEBTEDNESS;
8.1.2 the GRANTOR will surrender and abandon the CHARGED PROPERTY, or the part thereof specified by the CREDITOR, to the CREDITOR or such person as may be designated by the CREDITOR, or will consent in writing to turn such property over to the CREDITOR or such person as may be designated by the CREDITOR at the time and place specified by the CREDITOR.
Remedies in Case of Default. If an Event of Default occurs and provided same is continuing, the Trustee may, at its discretion, declare the Hypothec hereby constituted by each Grantor to have become enforceable.
Remedies in Case of Default. If you are in default of this Agreement, Installer may take any one or more of the following actions. If the law requires Installer to do so, Installer will give you notice and wait any period of time required before taking any of these actions. Installer may:
a. terminate this Agreement and your rights to possess and use the PV System;
b. suspend its performance under this Agreement;
c. take any reasonable action to correct your default or to prevent further loss to Installer;
d. require you to return the PV System or make it available to Installer in a reasonable manner; or
e. turn off or take back the PV System by legal process or self-help, but Installer may not disturb the peace or violate the law. By choosing any one or more of these remedies, Installer does not give up its right to use another remedy. By deciding not to use any remedy should you be in default of this Agreement, Installer does not give up its right to use that remedy in case of a subsequent default.
Remedies in Case of Default. In the event of default hereunder by either party, the non-defaulting party shall be entitled to all remedies available at law or equity, including the rights to seek specific performance and/or money damages. In the case of any legal or equitable action taken by either party in connection with the default of the other party, the prevailing party shall be entitled to recover from the other party all costs and reasonable attorneys fees incurred in connection therewith.
