Common use of Termination for Operator Default Clause in Contracts

Termination for Operator Default. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Operator 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 15 (fifteen) days, the Operator shall be deemed to be in default of this Agreement (a “Operator Default”), unless the default has occurred solely as a result of any breach of this Agreement by DTTDC or due to Force Majeure event. The defaults referred to herein shall include: (a) the Performance Security has been partially or fully invoked and appropriated by the DTTDC as per the Agreement and the Operator fails to replenish or provide fresh Performance Security within a Cure Period of 15 (fifteen) days; (b) the Operator does not make payment to the DTTDC and remains in default for a period of more than 15 (fifteen) days from the due date of payment; (c) the Operator does not complete the furnishing etc. before the Schedule Commercial Operations Date and continues to be in default for 30 (thirty) days; (d) the Operator commits any particular/ similar default for four times, in the Project Facility, at any time during the currency of the Agreement Period; (e) the Operator abandons or manifests intention to abandon the Project without prior written consent of the DTTDC; (f) the Operator has failed to make any payment towards damages to any user or any utility within the period specified in this Agreement; (g) the Operator repudiates this Agreement or otherwise takes any action or evidences or conveys an intention not to be bound by the Agreement; (h) Change in management control of the Operator which according to the DTTDC may have Material Adverse Effect towards the completion of the Project; (i) the Operator is adjudged bankrupt or insolvent, or if a trustee or receiver is appointed for the Operator or for the whole or material part of its assets at any time before the Scheduled Commercial Operations Date; (j) the Operator has been, or is in the process of being liquidated, dissolved, wound-up, amalgamated or reconstituted in a manner that would cause, in the reasonable opinion of the DTTDC, a Material Adverse Effect; (k) a resolution for winding up of the Operator is passed, or any petition for winding up of the Operator is admitted by a court of competent jurisdiction and a provisional liquidator or receiver is appointed and such order has not been set aside within 90 (ninety) days of the date thereof or the Operator is ordered to be wound up by Court; (l) the Operator has failed to fulfill any obligation, for which failure Termination has been specified in this Agreement; (m) the Operator commits a material default in complying with any other provision of this Agreement.; (n) the Operator novates and /or assigns the agreement to any third party without any prior approval from the DTTDC; (o) the Agreement Period of 10 (Ten) years has ended.

Termination for Operator Default. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Operator 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 15 (fifteen) days, the Operator shall be deemed to be in default of this Agreement (a “Operator Default”), unless the default has occurred solely as a result of any breach of this Agreement by DTTDC Authority or due to Force Majeure event. The defaults referred to herein shall include: (a) the Performance Security has been partially or fully invoked and appropriated by the DTTDC Authority as per the Agreement and the Operator fails to replenish or provide fresh Performance Security within a Cure Period of 15 (fifteen) days; (b) the Operator does not make payment to the DTTDC Authority and remains in default for a period of more than 15 (fifteen) days from the due date of payment; (c) the Operator does not complete the furnishing and fixture etc. before the Schedule Commercial Operations Date and continues to be in default for 30 (thirty) days; (d) the Operator commits any particular/ similar default for four times, in the Project Facility, at any time during the currency of the Agreement Period; (e) the Operator abandons or manifests intention to abandon the Project without prior written consent of the DTTDCAuthority; (f) the Operator has failed to make any payment towards damages to any user or any utility within the period specified in this Agreement; (g) the Operator repudiates this Agreement or otherwise takes any action or evidences or conveys an intention not to be bound by the Agreement; (h) Change in management control of the Operator which according to the DTTDC Authority may have Material Adverse Effect towards the completion of the Project; (i) an Escrow Default has occurred and the Concessionaire fails to cure the default within the Cure Period stated in Escrow Agreement; (j) the Operator is adjudged bankrupt or insolvent, or if a trustee or receiver is appointed for the Operator or for the whole or material part of its assets at any time before the Scheduled Commercial Operations Date; (jk) the Operator has been, or is in the process of being liquidated, dissolved, wound-up, amalgamated or reconstituted in a manner that would cause, in the reasonable opinion of the DTTDCAuthority, a Material Adverse Effect; (kl) a resolution for winding up of the Operator is passed, or any petition for winding up of the Operator is admitted by a court of competent jurisdiction and a provisional liquidator or receiver is appointed and such order has not been set aside within 90 (ninety) days of the date thereof or the Operator is ordered to be wound up by Court; (lm) the Operator has failed to fulfill fulfil any obligation, for which failure Termination has been specified in this Agreement; (mn) the Operator commits a material default in complying with any other provision of this Agreement.; (no) the Operator novates and /or assigns the agreement to any third party without any prior approval from the DTTDCAuthority; (op) the Agreement Period of 10 (Ten) - 10+5 years has ended.

Termination for Operator Default. 25.1.1 Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Operator fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then specified within a Cure Period of 15 60 (fifteensixty) days, the Operator shall be deemed to be in default of this Agreement (a “( "Operator Default”), ") unless the default has occurred solely as a result of any breach of this Agreement by DTTDC the SPV or due to Force Majeure eventMajeure. The defaults referred to herein shall includeinclude the following: (a) the Performance Security has been partially or fully invoked encashed and appropriated by in accordance with Clause 9.2 or the DTTDC as per the Agreement Performance Security has not been renewed in accordance with Clause 9.2 and the Operator fails to replenish or provide fresh Performance Security within a Cure Period of 15 (fifteen) days; (b) subsequent to the replenishment or furnishing of fresh Performance Security in accordance with Clause 9.2, the Operator does not make payment fails to cure, within a Cure Period of 60 (sixty) days, the DTTDC and remains in default Operator Default for a period which whole or part of more than 15 (fifteen) days from the due date of paymentPerformance Security was appropriated; (c) the Operator does not complete the furnishing etc. before the Schedule Commercial Operations Date and continues to be commits any Fee Diversion in default for 30 (thirty) daysterms of Clause 18.1.2; (d) the Operator commits any particular/ similar default for four times, in the Project Facility, at any time during the currency of the Agreement Period; (e) the Operator abandons or manifests intention to abandon the operation of the Project without the prior written consent of the DTTDCSPV; (e) the Operator fails to operate and manage the Project Facilities in accordance with the terms of this Agreement; (f) the Operator is in breach of the terms of the Maintenance Manual and/or the Safety Requirements; (g) the Operator has failed to make any payment towards damages to any user or any utility the SPV within the period specified in this Agreement; (gh) an Escrow Default has occurred and the Operator fails to cure the default within a Cure Period of 15 (fifteen) days; (i) a breach of any of the Project Agreements by the Operator has caused a Material Adverse Effect; (j) the Operator creates any Encumbrance in breach of this Agreement; (k) the Operator repudiates this Agreement or otherwise takes any action or evidences or conveys an intention not to be bound by the Agreement; (hl) a Change in management control Ownership has occurred in breach of the provisions of Clause 5.3; (m) there is a transfer, pursuant to law either of (i) the rights and/or obligations of the Operator which according to under any of the DTTDC may have Project Agreements, or of (ii) all or part of the assets or undertaking of the Operator, and such transfer causes a Material Adverse Effect towards the completion of the ProjectEffect; (in) an execution levied on any of the assets of the Operator has caused a Material Adverse Effect; (o) the Operator is adjudged bankrupt or insolvent, or if a trustee or receiver is appointed for the Operator or for the whole or material part of its assets at any time before that has a material bearing on the Scheduled Commercial Operations DateProject; (jp) the Operator has been, or is in the process of being liquidated, dissolved, wound-up, amalgamated or reconstituted in a manner that would cause, in the reasonable opinion of the DTTDCSPV, a Material Adverse Effect; (kq) a resolution for winding up of the Operator is passed, passed or any petition for winding up of the Operator is admitted by a court of competent jurisdiction and a provisional liquidator or receiver is appointed and such order has not been set aside within 90 (ninety) days of the date thereof or the Operator is ordered to be wound up by CourtCourt except for the purpose of amalgamation or reconstruction; provided that, as part of such amalgamation or reconstruction, the entire property, assets and undertaking of the Operator are transferred to the amalgamated or reconstructed entity and that the amalgamated or reconstructed entity has unconditionally assumed the obligations of the Operator under this Agreement and the Project Agreements; and provided that: (i) the amalgamated or reconstructed entity has the capability and operating experience necessary for the performance of its obligations under this Agreement and the Project Agreements; (lii) the amalgamated or reconstructed entity has the financial standing to perform its obligations under this Agreement and the Project Agreements and has a credit worthiness at least as good as that of the Operator as at COD; and (iii) each of the Project Agreements remains in full force and effect; (r) any representation or warranty of the Operator herein contained which is, as of the date hereof, found to be materially false; (s) the Operator submits to the SPV any statement which has a material effect on the SPV's rights, obligations or interests and which is false in material particulars; (t) the Operator has failed to fulfill discharge any obligation, for failure of which failure results in Termination has been specified in under this Agreement;; or (mu) the Operator commits a material default in complying with any other provision of this Agreement if such default causes a Material Adverse Effect on the SPV. 25.1.2 Without prejudice to any other right or remedies which the SPV may have under this Agreement.; (n) , upon occurrence of an Operator Default, the SPV shall be entitled to terminate this Agreement by issuing a Termination Notice to the Operator; provided that before issuing the Termination Notice, the SPV shall by a notice inform the Operator novates of its intention to issue such Termination Notice and /or assigns grant 15 (fifteen) days to the agreement Operator to any third party without any prior approval from make a representation, and may after the DTTDC; expiry of such 15 (ofifteen) days, whether or not it is in receipt of such representation, issue the Agreement Period of 10 (Ten) years has endedTermination Notice.

Termination for Operator Default. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Operator 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 15 (fifteen) days, the Operator shall be deemed to be in default of this Agreement (a “Operator Default”), unless the default has occurred solely as a result of any breach of this Agreement by DTTDC or due to Force Majeure event. The defaults referred to herein shall include: (a) the Performance Security has been partially or fully invoked and appropriated by the DTTDC as per the Agreement and the Operator fails to replenish or provide fresh Performance Security within a Cure Period of 15 (fifteen) days; (b) the Operator does not make payment to the DTTDC and remains in default for a period of more than 15 (fifteen) days from the due date of payment; (c) the Operator does not complete the furnishing etc. furnishing, fixtures before the Schedule Commercial Operations Date and continues to be in default for 30 (thirty) days; (d) the Operator commits any particular/ similar default for four times, in the Project Facility, at any time during the currency of the Agreement Period; (e) the Operator abandons or manifests intention to abandon the Project without prior written consent of the DTTDC; (f) the Operator has failed to make any payment towards damages to any user or any utility within the period specified in this Agreement; (g) the Operator repudiates this Agreement or otherwise takes any action or evidences or conveys an intention not to be bound by the Agreement; (h) Change in management control of the Operator company which according to the DTTDC may have Material Adverse Effect towards the completion of the Project; (i) an Escrow Default has occurred and the Concessionaire fails to cure the default within the Cure Period stated in Escrow Agreement; (j) the Operator is adjudged bankrupt or insolvent, or if a trustee or receiver is appointed for the Operator or for the whole or material part of its assets at any time before the Scheduled Commercial Operations Date; (jk) the Operator has been, or is in the process of being liquidated, dissolved, wound-up, amalgamated or reconstituted in a manner that would cause, in the reasonable opinion of the DTTDC, a Material Adverse Effect; (kl) a resolution for winding up of the Operator is passed, or any petition for winding up of the Operator is admitted by a court of competent jurisdiction and a provisional liquidator or receiver is appointed and such order has not been set aside within 90 (ninety) days of the date thereof or the Operator is ordered to be wound up by Court; (lm) the Operator has failed to fulfill any obligation, for which failure Termination has been specified in this Agreement; (mn) the Operator commits a material default in complying with any other provision of this Agreement.; (no) the Operator novates and /or assigns the agreement to any third party without any prior approval from the DTTDC; (op) the Agreement Period of 10 (Ten) years has ended.

Termination for Operator Default. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Operator 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 15 (fifteen) days, the Operator shall be deemed to be in default of this Agreement (a “Operator Default”), unless the default has occurred solely as a result of any breach of this Agreement by DTTDC or due to Force Majeure event. The defaults referred to herein shall include: (a) the Performance Security has been partially or fully invoked and appropriated by the DTTDC as per the Agreement and the Operator fails to replenish or provide fresh Performance Security within a Cure Period of 15 (fifteen) days; (b) the Operator does not make payment to the DTTDC and remains in default for a period of more than 15 (fifteen) days from the due date of payment; (c) the Operator does not complete the furnishing etc. before and fixture etc.before the Schedule Commercial Operations Date and continues to be in default for 30 (thirty) days; (d) the Operator commits any particular/ similar default for four times, in the Project Facility, at any time during the currency of the Agreement Period; (e) the Operator abandons or manifests intention to abandon the Project without prior written consent of the DTTDC; (f) the Operator has failed to make any payment towards damages to any user or any utility within the period specified in this Agreement; (g) the Operator repudiates this Agreement or otherwise takes any action or evidences or conveys an intention not to be bound by the Agreement; (h) Change in management control of the Operator which according to the DTTDC may have Material Adverse Effect towards the completion of the Project; (i) an Escrow Default has occurred and the Concessionaire fails to cure the default within the Cure Period stated in Escrow Agreement; (j) the Operator is adjudged bankrupt or insolvent, or if a trustee or receiver is appointed for the Operator or for the whole or material part of its assets at any time before the Scheduled Commercial Operations Date; (jk) the Operator has been, or is in the process of being liquidated, dissolved, wound-up, amalgamated or reconstituted in a manner that would cause, in the reasonable opinion of the DTTDC, a Material Adverse Effect; (kl) a resolution for winding up of the Operator is passed, or any petition for winding up of the Operator is admitted by a court of competent jurisdiction and a provisional liquidator or receiver is appointed and such order has not been set aside within 90 (ninety) days of the date thereof or the Operator is ordered to be wound up by Court; (lm) the Operator has failed to fulfill any obligation, for which failure Termination has been specified in this Agreement; (mn) the Operator commits a material default in complying with any other provision of this Agreement.; (no) the Operator novates and /or assigns the agreement to any third party without any prior approval from the DTTDC; (op) the Agreement Period of 10 (Ten) years has ended.