Seller Event of Default; Termination by the GOP Sample Clauses

Seller Event of Default; Termination by the GOP. Each of the following events shall be an event of default by the Seller (each a “Seller Event of Default”), which, if not cured within the time period permitted (if any) to cure, shall give rise to the right on the part of the GOP to terminate this Agreement pursuant to Section 14.2 (Termination Notices); provided, however, that no such event shall be a Seller Event of Default (i) if it results from the GOP’s breach of this Agreement or the Guarantee, (ii) if it results from a breach by the Purchaser of the Energy Purchase Agreement or (iii) if it occurs as a result of a Force Majeure Event (except in the case of Section 14.1(a)(x)); or (iv) if it results from a breach by the AEDB of the Site Sub- lease;
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Seller Event of Default; Termination by the GOP. Each of the following events shall be an event of default by the Seller (each a “Seller Event of Default”), which, if not cured within the time period permitted (if any) to cure, shall give rise to the right on the part of the GOP to terminate this Agreement pursuant to Section 14.2 (Termination Notices); provided, however, that no such event shall be a Seller Event of Default: (i) if it results from a breach by the GOP of this Agreement or the Guarantee, (ii) if it results from a breach by the Purchaser of the Energy Purchase Agreement, [(iii) if it results from a breach by the AJ&K Entities of the AJ&K Implementation Agreement,] (iv) if it results from a breach by the [Provincial Government] / [GOAJ&K] of the Water Use Agreement, (v) if it occurs as a result of a Force Majeure Event (except in the case of Section 14.1(a)(x)), [(vi) if it results from a breach by the [Provincial Government] / [GOAJ&K] of the Site Lease,]14 or [(vii) if, and only to the extent that, it results from non-availability of water within Technical Limits]15; failure of the Seller to achieve the Construction Start Date within ninety (90) Days following Financial Closing; failure of the Seller to achieve the Commercial Operations Date within four hundred (400) Days after the Required Commercial Operations Date; after Construction Start Date but prior to the achievement of the Commercial Operations Date, the failure of the Seller to prosecute the Project in a diligent manner for a period of thirty (30) consecutive Days, without prior notice to and the prior written consent of the GOP; after the Commercial Operations Date, an Abandonment by the Seller without prior notice to and the prior written consent of the GOP that continues for a period of thirty (30) consecutive Days, provided however, the Seller shall not be deemed to have Abandoned its Complex so long as it is using all reasonable efforts to regain control of the Complex or reinstate its commercial operations; other than the assignments and transfers to and by the Lenders and the short-term creditors contemplated under Section 11.2 (Creation of Security), the assignment or transfer of the Seller’s rights or obligations in this Agreement and in the assets identified in Section 11.2(a) (other than the transfer in accordance with the Laws of Pakistan of the non material assets, the transfer of which does not affect the performance of the Seller’s obligations hereunder) without obtaining the prior written consent of the GOP or t...
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Seller Event of Default; Termination by the GOP. Each of the following events shall be an event of default by the Seller (each a “Seller Event of Default”), which, if not cured within the time period permitted (if any) to cure, shall give rise to the right on the part of the GOP to terminate this Agreement pursuant to Section 14.2 (Termination Notices); provided, however, that no such event shall be a Seller Event of Default: (i) if it results from a breach by the GOP of this Agreement or the Guarantee, (ii) if it results from a breach by the Purchaser of the Energy Purchase Agreement, [(iii) if it results from a breach by the AJ&K Entities of the AJ&K Implementation Agreement,] (iv) if it results from a breach by the [Provincial Government] / [GOAJ&K] of the Water Use Agreement, (v) if it occurs as a result of a Force Majeure Event (except in the case of Section 14.1(a)(x)), [(vi) if it results from a breach by the [Provincial Government] / [GOAJ&K] of the Site Lease,]14 or [(vii) if, and only to the extent that, it results from non-availability of water within Technical Limits]15;
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Related to Seller Event of Default; Termination by the GOP

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately.

  • Termination Events This Agreement may, by notice given prior to or at the Closing, be terminated:

  • Termination Upon Breach Notwithstanding Section 5.1, this Agreement may be terminated by either party upon written notice to the other party, in the event the other party materially breaches any obligation hereunder and the breaching party fails to cure within 30 days after written notice of the breach.

  • Suspension or Termination Upon Default Either Party may suspend or terminate this Agreement, in whole or in part, in the event of a Default by the other Party so long as the non-Defaulting Party notifies the Defaulting Party in writing of the Default and the Defaulting Party does not cure the Default within thirty (30) Days of receipt of the written notice, provided however, that any requirements for written notice and opportunity to cure with respect to the failure to make timely payment of undisputed charges shall be governed separately under Section 51. Following CenturyLink’s notice to CLEC of its Default, CenturyLink shall not be required to process new Service Orders until the Default is timely cured.

  • Termination of Default An Event of Default shall be deemed to have been terminated upon the earliest to occur of:

  • Default Events and Termination 18.1 Each of the following circumstances shall constitute a General Default:

  • Rights Upon Event of Default (a) As long as an Event of Default under this Agreement remains unremedied, Holders of not less than 50% of the outstanding Class Principal Balance of the Original Notes (in each case the outstanding Class Principal Balance of the Original Notes will be determined without regard to any exchanges of Class M Notes for MAC Notes) to which such Event of Default relates may, by written notice to Freddie Mac, declare such Notes due and payable and accelerate the maturity of such Notes. In the event that Class M Notes have been exchanged for MAC Notes, Holders of such MAC Notes will be entitled to exercise all the voting or direction rights that are allocated to such exchanged Class M Notes as described herein. Upon such acceleration, the Class Principal Balance of such Notes and the interest accrued thereon shall be due and payable.

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