TERMINATION BY CONCESSIONAIRE. 15.2.1 Concessionaire may terminate its performance under this Agreement only in the event of default by the City and a failure by the City to cure such default after receiving notice thereof, all as provided in this Section. Default by the City shall occur if the City fails to observe or perform any of its material duties under this Agreement. Should such a default occur, Concessionaire may deliver a written notice to the Director describing such default and the proposed date of termination. Such date may not be sooner than the 30th day following receipt of the notice. Concessionaire, in its reasonable judgment, may extend the proposed date of termination to a later date if the nature of the default requires more than thirty (30) days to cure. If prior to the proposed date of termination, the City cures such default, then the proposed termination shall be ineffective. If the City fails to cure such default prior to the proposed date of termination, then Concessionaire may terminate its performance under this Agreement as of such date.
15.2.2 In addition, this Agreement may be canceled or terminated by Concessionaire by giving a thirty (30) day written notice to Director upon the occurrence of one or more of the following events specified below:
.1 The lawful assumption by the United States government, or any authorized agency thereof, of the operation, control or use of the Airport, or any substantial part thereof, in such manner as to materially restrict Concessionaire from operating thereon for a period of at least ninety (90) consecutive days;
.2 The complete destruction of one-third (1/3) or more of the Concession Facilities from a cause other than the negligence or omission-to-act of Concessionaire, its Subcontractors, agents or employees, and the subsequent failure of City to repair or reconstruct said Facilities within twelve (12) months after such destruction; or
.3 Any exercise of authority by the federal government which shall so interfere with Concessionaire's use and enjoyment of the Concession Facilities as to constitute a termination, in whole or in part, of this Agreement by operation of law in accordance with the laws of the United States.
TERMINATION BY CONCESSIONAIRE. Subject to the remaining provisions of this clause 58, the Concessionaire shall, without prejudice to its other rights or remedies in terms hereof or at law, be entitled to forthwith terminate this Contract on written notice to such effect to the Council and the Lenders should any of the following events occur - the Council breaches a material provision of this Contract (including, but not limited, to the non payment of any amount due to the Concessionaire in terms hereof or a breach by the Council of any warranty given by it in terms of this Contract) and fails to remedy same within 60 (sixty) calendar days after receipt of a written notice from the Concessionaire a copy of which notice the Concessionaire shall send to the Lenders requiring such breach to be remedied; any compulsory acquisition or expropriation by any Competent Authority of a material part of the Works, or other rights necessary for the Supply of Water Services or operation of the Contract; the Concessionaire and/or the Operator or any share in or claim against the Concessionaire and/or the Operator is nationalised or expropriated by any Competent Authority; the business of the Concessionaire and/or the Operator is nationalised or expropriated by any Competent Authority; and/or Ministry or any other Competent Authority unlawfully withdraws, revokes or materially varies any permit, licence, consent or other authority necessary for the Concessionaire and/or the Operator to undertake the supply of Water Services; the failure to address adequately the consequences suffered by the Concessionaire on the occurrence of Material Adverse Governmental Action as envisaged in 56. Upon any termination of the Contract by the Concessionaire, the Council shall pay to the Lenders all sums outstanding under the Financing Agreements and all hedging agreements concluded between the Lenders and third Parties as at the date of payment thereof (including breakage costs), unless the Council and the Lenders reach agreement in writing that the Council is to assume the payment and other relevant obligations of the Concessionaire under such Financing Agreements. Upon termination of the Contract by the Concessionaire the Council shall pay to the Concessionaire - an amount equal to all Equity contributed to the Concessionaire by the shareholders of the Concessionaire ; and an amount required to attain the premise and basis of the Financial Base Case in respect of the period that has elapsed between the Effective Date a...
TERMINATION BY CONCESSIONAIRE. 14.1 In addition to other remedies available to the Concessionaire, this Agreement shall be subject to termination by the Concessionaire, as set forth below, should any one or more of the following events (hereinafter, “County Default”) occur:
a. The abandonment of the County for longer than sixty (60) days;
b. The issuance of an order or injunction by any court of competent jurisdiction preventing or restraining the use of the Airport in such a manner as to substantially restrict the Concessionaire from conducting its operation of the Airport advertising concession, provided such order or injunction is not issued due to an act or omission of the Concessionaire and such order or injunction remains in force for at least sixty (60) days;
c. The breach by the County of any of the material terms, covenants, or conditions of this Agreement and County’s failure to remedy the breach, or diligently proceed to remedy the breach, within sixty (60) days of receipt of written notice from Concessionaire of the existence of such breach;
d. The assumption by the United States Government, or any authorized agency thereof, of the operation, control or use of the Airport and its facilities in such a manner as to substantially restrict the Concessionaire from conducting its Airport advertising concession, if such restriction be continued for a period of sixty (60) days or more; or
e. The number of enplaned passengers at the County for a completed calendar year decreases thirty percent (30%) or more below the traffic recorded during the previous completed calendar year; or
f. The destruction of such a significant portion of the Airport terminal building(s) due to fire, earthquake or any other cause not the fault of Concessionaire so as to make continuation of the advertising concession commercially unreasonable.
14.2 In the event of a County Default, and upon County’s failure to cure such default as provided for herein, Concessionaire shall then, or at any time thereafter, have the right, at its election, to terminate this Agreement by providing at least ten (10) days written notice to County. Concessionaire shall upon the passing of the ten (10) days quit and surrender the Assigned Areas and any permanent improvements, as described in Article 5.9, to County. In such event, the Concessionaire shall be reimbursed by County for the undepreciated portion of its actual capital costs (including, without limitation, construction and installation costs) of the permanent and non-perm...
TERMINATION BY CONCESSIONAIRE. 25.1. Subject to the remaining provisions of this clause 25, the Concessionaire shall only be entitled to cancel and terminate this agreement on written notice to the Operator if any of the following events should occur -
25.1.1. the Operator breaches a material provision of this agreement and fails to remedy same within 60 (sixty) calendar days after receipt of a written notice from the Concessionaire requiring such breach to be remedied; or
25.1.2. any judgement is granted (which judgement is not subject to appeal or review or, if it is, such appeal or review, as the case may be, is not diligently pursued) for the winding up or judicial management of the Operator, save for any voluntary liquidation for the purposes of reconstruction or amalgamation; or
25.1.3. the members of the Operator adopt a resolution for the voluntary winding up or judicial management of the Operator, save for a voluntary liquidation for the purposes of reconstruction or amalgamation; or
25.1.4. the Operator, for reasons solely attributable to an act or omission of itself, abandons or relinquishes the supply of water services to consumers to such an extent that there is significant widespread danger to the health of the public, which will be presumed to be the case where the Operator fails to supply water services for a continuous period of 5 (five) days or 15 (fifteen) discontinuous days per calendar year; or
25.1.5. the Operator consistently breaches a material provision of the conditions of the supply of water services and consumer rules to the extent that there is significant widespread danger to the health of the public in the concession area and in such a manner as to reasonably justify Council in holding that the Concessionaire's resultant conduct under the concession contract is inconsistent with its intention or ability to carry out the terms and conditions of the concession contract; or
25.1.6. the Operator wilfully conceals material information which it is obliged to supply to the Concessionaire, where concealment of such information will result in Council to be in breach of its statutory obligations in terms of the regulatory provisions and suffering material damage or loss.
25.2. Prior to the Concessionaire exercising any right to cancel and terminate this agreement, it shall deliver a written notice to Council, each lender and the Operator notifying them of the breach giving rise to such right and requesting the Operator to remedy the breach in question within a perio...
TERMINATION BY CONCESSIONAIRE. 12.3.1 Concessionaire may terminate its performance under this Agreement only in the event of default by the City and a failure by the City to cure such default after receiving notice thereof, all as provided in this Section. Default by the City shall occur if the City fails to observe or perform any of its material duties under this Agreement. Should such a default occur, Concessionaire may deliver a written notice to the Director describing such default and the proposed date of termination. Such date may not be sooner than the 30th day following receipt of the notice. Concessionaire, in its reasonable judgment, may extend the proposed date of termination to a later date if the nature of the default requires more than thirty (30) days to cure. If prior to the proposed date of termination, the City cures such default to Concessionaire’s reasonable satisfaction, then the proposed termination shall be ineffective. If the City fails to cure such default prior to the proposed date of termination, then Concessionaire may terminate its performance under this Agreement as of such date.
12.3.2 In addition, this Agreement may be canceled or terminated by Concessionaire by giving a thirty
TERMINATION BY CONCESSIONAIRE. This Agreement may be terminated by Concessionaire upon the default by Lessor in the performance of any covenant or agreement herein required to be performed by Xxxxxx and the failure of Lessor to remedy such default for a period of sixty (60) consecutive days after receipt from Concessionaire of written notice to remedy the same, provided, however, should the nature of the default be such that it cannot be cured within the specified time period, Lessor shall be deemed to have cured such default if it shall commence performance and thereafter diligently prosecute the same to completion.
TERMINATION BY CONCESSIONAIRE. If any of the following events or situations occur and such events or situations cannot be corrected or cured within after written notification of the defaults is issued by the Concessionaire, the Concessionaire is entitled to compensation from the Grantor for all the losses, damages, costs, or expenses it incurs as a result of the defaults, or at its discretion, to terminate the Concession Agreement before its expiry with -- prior written notification in writing:
(1) The Grantor of the Concession decides to terminate the Agreement on the basis which is not defined by law and the Agreement.
(2) nationalization, expropriation, mobilisation of the property.
(3) Rejection to grant or renew Project related permits with no legal reasons; cancellation of the permits, with reasons other than stated in the legislation.
(4) The Grantor of Concession decides to terminate the Concession Agreement before its expiry for the purpose of national security or in the state of emergency.
(5) Grantor of Concession or any other government authorities of Mongolia adopt and enforce changes to the law that have negative effect on the implementation of the Project.
(6) Grantor and relevant other government authorities fail to perform its duties and responsibilities in accordance with law, or improperly interfere with the construction and operation of the Concessionaire, which causes adverse effects to the construction and operation of Project by the Concessionaire.
(7) For reasons not attributable to the Concessionaire, the Concessionaire fails to obtain right to use the land, to obtain coal supply of the quality and quantity agreed to in the Coal Purchase Agreement, or to sell power produced by the Power Plant at the quantity and price agreed to in the PPA, or to obtain water or other conditions, and any of such situations continue for a period of at least three months.
(8) The Grantor fails to compensate the Concessionaire in accordance with the provisions of this Agreement.
TERMINATION BY CONCESSIONAIRE. This Agreement shall be subject to cancellation by the Concessionaire should any one or more of the following events occur:
a. The permanent abandonment of Memorial Auditorium by the City.
b. The issuance by any court of competent jurisdiction of an injunction in any way preventing or restraining the use of Memorial Auditorium should such injunction remains in force for at least thirty (30) days.
c. The breach by the City of any of the terms, covenants or conditions of this Agreement to be kept, performed and observed by the City and the failure of the City to remedy such breach for a period of sixty (60) days after written notice from Concessionaire of the existence of such breach.
d. The assumption by the United States Government, or any authorized agency of same, of the operation, control or use of Memorial Auditorium and its facilities in such a manner as to substantially restrict the Concessionaire from operating said concession, if such restriction be continued for a period of three (3) months or more.
TERMINATION BY CONCESSIONAIRE. Concessionaire may terminate its performance under this Agreement only in the event of default by the City of a material obligation and a
TERMINATION BY CONCESSIONAIRE. Concessionaire may terminate this agreement at any time after July 31, 2017, by giving thirty (30) days notice to City of Concessionaire’s intention to terminate. If Concessionaire terminates this agreement prior to July 31, 2017, Concessionaire shall forfeit the deposit that secures Concessionaire’s performance as described in Section 26.
