Term Defaults and Remedies Sample Clauses

Term Defaults and Remedies v.1Term of Agreement Except for the provisions of Article 1, 2, 5, Error! Reference source not found., 7, 11, 16, 17, 19, 20, 22, 23, and 23 (which shall commence and be effective upon the date of signature of this Agreement), the term of this Agreement ("Term") shall commence and be effective upon Financial Close (provided that this Agreement shall be effective upon satisfaction or waiver of all conditions precedent other than the condition to achieve Financial Close if the only condition precedent to Financial Close that is not satisfied or waived is that any or all of this Agreement or other Project Agreement is not in full force and effect because Financial Close has not occurred) and shall terminate twenty five (25) Contract Years after the Phase 1 Commercial Operation Date, unless extended or earlier terminated pursuant to the provisions of this Agreement. The termination of this Agreement shall be without prejudice to all rights and obligations of the Parties accrued under this Agreement prior to the date of such termination. On or before the end of the twenty-first (21st) Contract Year the Parties shall meet to discuss whether the Term of this Agreement shall be extended. To the extent the Parties agree to extend the Term, then the terms and conditions of this Agreement shall be negotiated and mutually agreed by the Parties, as required and appropriate. To the extent this Agreement is not extended, then this Agreement shall terminate in accordance with its terms and conditions, and the Parties shall commence the implementation of the Facility Transfer procedures set forth in Article 18.
Sample 1
AutoNDA by SimpleDocs
Term Defaults and Remedies. 46 Section 10.1 Term 46 Section 10.2 Default by Xxxxxxxx 47 Section 10.3 Default by Herndon 48 Section 10.4 Herndon Remedies in the Event of Default By Xxxxxxxx 48 Section 10.5 Xxxxxxxx Remedies in the Event of Default by Herndon 49
Sample 1
Term Defaults and Remedies 
Sample 1Sample 2Sample 3See All (16)

Related to Term Defaults and Remedies

  • Defaults and Remedies Section 6.01.

  • Default and Remedies Either of the following constitutes cause to declare this Contract, or any Participating Entity order under this Contract, in default:

  • Defaults Remedies (a) It shall be an Event of Default:

  • Events of Default and Remedies Section 8.01

  • Events of Default Remedies If any of the following events (“Events of Default”) shall occur:

  • Performance Default and Remedies Subsection B. DEFAULT AND REMEDIES, second paragraph of the Contract is modified as follows (underlined language is added and stricken language is deleted): “Written notice of default and a reasonable 30-day opportunity to cure must be issued by the party claiming default.”

  • Waiver and Remedies The parties may (a) extend the time for performance of any of the obligations or other acts of any other party to this Agreement, (b) waive any inaccuracies in the representations and warranties of any other party to this Agreement contained in this Agreement or in any certificate, instrument or document delivered pursuant to this Agreement or (c) waive compliance with any of the covenants, agreements or conditions for the benefit of such party contained in this Agreement. Any such extension or waiver by any party to this Agreement will be valid only if set forth in a written document signed on behalf of the party or parties against whom the waiver or extension is to be effective. No extension or waiver will apply to any time for performance, inaccuracy in any representation or warranty, or noncompliance with any covenant, agreement or condition, as the case may be, other than that which is specified in the written extension or waiver. No failure or delay by any party in exercising any right or remedy under this Agreement or any of the documents delivered pursuant to this Agreement, and no course of dealing between the parties, operates as a waiver of such right or remedy, and no single or partial exercise of any such right or remedy precludes any other or further exercise of such right or remedy or the exercise of any other right or remedy. Any enumeration of a party’s rights and remedies in this Agreement is not intended to be exclusive, and a party’s rights and remedies are intended to be cumulative to the extent permitted by law and include any rights and remedies authorized in law or in equity.

  • Termination and Remedies Provided no TO is outstanding and remains to be performed by either party, this Agreement may be terminated by either party upon 30 days prior written notice to the other party. Any TO may be terminated under the following circumstances: by both Parties on mutual written agreement of the Parties; by either Party for its convenience with written notice and after the Termination Notice Period specified in the Additional Terms has expired; by Mercy Corps immediately upon written notice in the event Mercy Corps’ donor(s) terminates or withdraws funding that Mercy Corps would use to pay Contractor under the Additional Terms; by either Party due to the non-terminating Party’s breach of this Agreement and failure to correct such breach within 15 days prior notice of such breach; be either Party upon written notice if a force majeure event, including any not reasonably foreseeable war, insurrection, change in law or government action or inaction, strike, natural disaster or similar event, prevents the terminating Party from being able to fulfill its obligations under this Agreement; or by Mercy Corps immediately upon written notice if Mercy Corps using its sole discretion determines that Contractor has or will breach any of its warranties, covenants or representations in this Agreement, in which case Mercy Corps may withhold any and all amounts owed to Contractor until such breach is remedied. In the event of termination due to Contractor’s breach or by Contractor for Contractor’s convenience, Mercy Corps will not be obligated to pay Contractor for any partially completed work. In the event termination is due to Mercy Corps’ breach, by Mercy Corps for Mercy Corps convenience, due to force majeure event, or due to loss of funding, Mercy Corps will be obligated to pay Contractor for its reasonable, pro-rated costs of work completed and expenses properly incurred prior to termination. However, Mercy Corps will not be responsible for any expenses incurred in anticipation of termination or suspension. If Mercy Corps determines that Contractor has or will breach any of its warranties, covenants or representations in this Agreement, Mercy Corps may, in addition to any other remedies for such breach available at law or in equity, terminate this Agreement.

  • EVENT OF DEFAULT/REMEDIES 8.1 Any one or more of the following acts or omissions of the Contractor shall constitute an event of default hereunder (“Event of Default”):

  • Waivers and Remedies The waiver by any of the parties hereto of any other party's prompt and complete performance, or breach or violation, of any provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach or violation, and the waiver by any of the parties hereto to exercise any right or remedy which it may possess hereunder shall not operate nor be construed as a bar to the exercise of such right or remedy by such party upon the occurrence of any subsequent breach or violation.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!