State Event of Default Sample Clauses

State Event of Default. The State’s failure to perform or delay in performing any of the its responsibilities under this Contract will not constitute grounds for termination of the Contract or a SLA by the Contractor except for a failure by the State to timely pay amounts due and owing after a reasonable time to cure.
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State Event of Default. The State’s failure to perform or delay in performing any of the its responsibilities under this ACS will not constitute grounds for termination of the ACS Agreement, or Purchase Order(s), or other means of purchase, by the Contractor except for a failure by the State to timely pay amounts due and owing after a reasonable time to cure and agreement by the State.
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State Event of Default. The Department or Eligible User’s failure to perform, or delay in performing responsibilities under this Contract or an SLA will not constitute grounds for termination of the Contract or SLA by the Contractor except for a failure by the Department or Eligible User to timely pay amounts due and owing after a reasonable time to cure.
Sample 1

Related to State Event of Default

  • Event of Default Any of the following shall constitute an “Event of 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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