Common use of Specified Events Clause in Contracts

Specified Events. It shall constitute an Event of Default in relation to a Party if: in respect of the Service Provider, an Improper Instrument Issuance occurs in respect of the Project; it fails to comply with any of its obligations under this Agreement and that failure is not remedied within 15 Business Days of the notice of such failure given by the other Party; it fails to make payment when due under this Agreement, and that failure is not remedied on or before the 15th Business Day after the notice of such failure given by the other Party; any representation or statement made or deemed to be made by it under or in connection with this Agreement is or proves to have been incorrect or misleading in any material respect when made or deemed to be made; it becomes insolvent, ceases trading, enters into liquidation, whether compulsory or voluntary, other than for the purposes of a solvent amalgamation or reconstruction, or makes an arrangement with its creditors or petitions for an administration order or if a trustee, administrator or administrative receiver or general officer is appointed over all or any part of its assets or if it generally becomes unable to pay its debts causes or is subject to any event with respect to it that, under the applicable laws of any jurisdiction, has an analogous effect to any of the foregoing events; the institution against it of any litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency which, if adversely determined, might reasonably be expected to have a material adverse effect; or it consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets to another entity.

Specified Events. It shall constitute an Event of Default in relation to a Party if: in respect of the Service ProviderGCC Verifier, an Improper Instrument ACC Issuance occurs in respect of the Project; it fails to comply with any of its obligations under this Agreement and that failure is not remedied within 15 Business Days days of the notice of such failure given by the other Party; it fails to make payment when due under this Agreement, and that failure is not remedied on or before the 15th Business Day after the notice of such failure given by the other Party; any representation or statement made or deemed to be made by it under or in connection with this Agreement is or proves to have been incorrect or misleading in any material respect when made or deemed to be made; it becomes insolvent, ceases trading, enters into liquidation, whether compulsory or voluntary, other than for the purposes of a solvent amalgamation or reconstruction, or makes an arrangement with its creditors or petitions for an administration order or if a trusteecouncil, administrator or administrative receiver or general officer is appointed over all or any part of its assets or if it generally becomes unable to pay its debts causes or is subject to any event with respect to it that, under the applicable laws of any jurisdiction, has an analogous effect to any of the foregoing events; the institution against it of any litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency which, if adversely determined, might reasonably be expected to have a material adverse effect; or it consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets to another entity.

Specified Events. It shall constitute an Event of Default in relation to a Party if: in respect of the Service Provider, an Improper Instrument Issuance occurs in respect of the a Project; it fails to comply with any of its obligations under this Agreement and that failure is not remedied within 15 fifteen (15) Business Days of the notice of such failure given by the other Party; it fails to make payment when due under this Agreement, and that failure is not remedied on or before the 15th Business Day after the notice of such failure given by the other Party; any representation or statement made or deemed to be made by it under or in connection with this Agreement is or proves to have been incorrect or misleading in any material respect when made or deemed to be made; it becomes insolvent, ceases trading, enters into liquidation, whether compulsory or voluntary, other than for the purposes of a solvent amalgamation or reconstruction, or makes an arrangement with its creditors or petitions for an administration order or if a trustee, administrator or administrative receiver or general officer is appointed over all or any part of its assets or if it generally becomes unable to pay its debts causes when they become due or is subject to any event with respect to it that, under the applicable laws of any jurisdiction, has an analogous effect to any of the foregoing events; the institution against it of any litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency is instituted against it, which, if adversely determined, might reasonably be expected to have a material adverse effect; or it consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets to another entity.

Specified Events. It shall constitute an Event of Default in relation to a Party if: in respect of the Service ProviderGCC Verifier, an Improper Instrument ACR Issuance occurs in respect of the Project; it fails to comply with any of its obligations under this Agreement and that failure is not remedied within 15 Business Days days of the notice of such failure given by the other Party; it fails to make payment when due under this Agreement, and that failure is not remedied on or before the 15th Business Day after the notice of such failure given by the other Party; any representation or statement made or deemed to be made by it under or in connection with this Agreement is or proves to have been incorrect or misleading in any material respect when made or deemed to be made; it becomes insolvent, ceases trading, enters into liquidation, whether compulsory or voluntary, other than for the purposes of a solvent amalgamation or reconstruction, or makes an arrangement with its creditors or petitions for an administration order or if a trusteecouncil, administrator or administrative receiver or general officer is appointed over all or any part of its assets or if it generally becomes unable to pay its debts causes or is subject to any event with respect to it that, under the applicable laws of any jurisdiction, has an analogous effect to any of the foregoing events; the institution against it of any litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency which, if adversely determined, might reasonably be expected to have a material adverse effect; or it consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets to another entity.

Specified Events. It shall constitute an Event of Default in relation to a Party if: in respect of the Service Provider, an Improper Instrument VCU Issuance occurs in respect of the Project; it fails to comply with any of its obligations under this Agreement and that failure is not remedied within 15 Business Days of the notice of such failure given by the other Party; it fails to make payment when due under this Agreement, and that failure is not remedied on or before the 15th Business Day after the notice of such failure given by the other Party; any representation or statement made or deemed to be made by it under or in connection with this Agreement is or proves to have been incorrect or misleading in any material respect when made or deemed to be made; it becomes insolvent, ceases trading, enters into liquidation, whether compulsory or voluntary, other than for the purposes of a solvent amalgamation or reconstruction, or makes an arrangement with its creditors or petitions for an administration order or if a trustee, administrator or administrative receiver or general officer is appointed over all or any part of its assets or if it generally becomes unable to pay its debts causes or is subject to any event with respect to it that, under the applicable laws of any jurisdiction, has an analogous effect to any of the foregoing events; the institution against it of any litigation, arbitration or administrative proceedings of or before any court, arbitral body or agency which, if adversely determined, might reasonably be expected to have a material adverse effect; or it consolidates or amalgamates with, or merges with or into, or transfers all or substantially all its assets to another entity.