Common use of Termination for Developer Default Clause in Contracts

Termination for Developer Default. 16.1.1 Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Developer fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Developer shall be deemed to be in default of this Agreement (the "Developer Default"), unless the default has occurred solely as a result of any breach of this Agreement by ESCOM or due to Force Majeure. The defaults referred to herein shall include the following: a) The Developer has failed to achieve the COD beyond 120 (hundred and twenty) days of Scheduled Commissioning Date for Power Project for any reason whatsoever; b) The condition relating to equity lock-in period specified in Clause 5.2 of this Agreement is not complied with; c) the Performance Security has been encashed and appropriated in accordance with Clause 4.4(b) and the Developer fails to replenish or provide fresh Performance Security within a Cure Period of 30 (thirty) days; d) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement;

Termination for Developer Default. 16.1.1 16.1.1. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Developer fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Developer shall be deemed to be in default of this Agreement (the "Developer Default"), unless the default has occurred solely as a result of any breach of this Agreement by ESCOM BESCOM or due to Force Majeure. The defaults referred to herein shall include the following: a) The Developer has failed to achieve the COD beyond 120 twenty two (hundred and twenty22) days months from the date of Scheduled Commissioning Date getting concurrence from KERC on the PPA for Power Project for any reason whatsoever; b) The condition relating to equity lock-in period specified in Clause 5.2 of this Agreement is not complied with; c) the Performance Security has been encashed and appropriated in accordance with Clause 4.4(b) and the Developer fails to replenish or provide fresh Performance Security within a Cure Period of 30 (thirty) days; d) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement;

Termination for Developer Default. 16.1.1 Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Developer fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Developer shall be deemed to be in default of this Agreement (the "Developer Default"), unless the default has occurred solely as a result of any breach of this Agreement by ESCOM or due to Force Majeure. The defaults referred to herein shall include the following: a) The Developer has failed to achieve the COD beyond 120 twenty two (hundred and twenty22) days months from the date of Scheduled Commissioning Date getting concurrence from KERC on the PPA for Power Project for any reason whatsoever; b) The condition relating to equity lock-in period specified in Clause 5.2 of this Agreement is not complied with; c) the Performance Security has been encashed and appropriated in accordance with Clause 4.4(b) and the Developer fails to replenish or provide fresh Performance Security within a Cure Period of 30 (thirty) days; d) The Developer has unlawfully repudiated this Agreement or has otherwise expressed an intention not to be bound by this Agreement;