Common use of Termination for Utility Default Clause in Contracts

Termination for Utility Default. 17.2.1 In the event that any of the defaults specified below shall have occurred, and the Utility fails to cure such default within a Cure Period of 120 (one hundred and twenty) days or such longer period as has been expressly provided in this Agreement, the Utility shall be deemed to be in default of this Agreement (the “Utility Default”) unless the default has occurred as a result of any breach of this Agreement by the Aggregator or due to Force Majeure. The defaults referred to herein shall include the following: (a) The Utility commits a material default in complying with any of the provisions of this Agreement and such default has a Material Adverse Effect on the Aggregator; (b) the Utility has failed to make any payment to the Aggregator, and the Aggregator is unable to recover any unpaid amounts through the Letter of Credit, within the period specified in this Agreement; or (c) the Utility repudiates this Agreement or otherwise takes any action that amounts to or manifests an irrevocable intention not to be bound by this Agreement. 17.2.2 Without prejudice to any other right or remedy which the Aggregator may have under this Agreement, upon occurrence of a Utility Default, the Aggregator shall be entitled to terminate this Agreement by issuing a Termination Notice to the Utility ; provided that before issuing the Termination Notice, the Aggregator shall by a notice inform the Utility of its intention to issue the Termination Notice and grant 15 (fifteen) days to the Utility to make a representation, and may after the expiry of such 15 (fifteen) days, whether or not it is in receipt of such representation, issue the Termination Notice.

Termination for Utility Default. 17.2.1 19.2.1 In the event that any of the defaults specified below shall have occurred, and the Utility fails to cure such default within a Cure Period of 120 (one hundred and twenty) days or such longer period as has been expressly provided in this Agreement, the Utility shall be deemed to be in default of this Agreement (the “Utility Default”) unless the default has occurred as a result of any breach of this Agreement by the Aggregator Supplier or due to Force Majeure. The defaults referred to herein shall include the following: (a) The Utility commits a material default in complying with any of the provisions of this Agreement and such default has a Material Adverse Effect on the AggregatorSupplier; (b) the Utility has failed to make any payment to the AggregatorSupplier, and the Aggregator Supplier is unable to recover any unpaid amounts through the Default Escrow Account and the Letter of Credit, within the period specified in this Agreement; or (c) the Utility repudiates this Agreement or otherwise takes any action that amounts to or manifests an irrevocable intention not to be bound by this Agreement. 17.2.2 19.2.2 Without prejudice to any other right or remedy which the Aggregator Supplier may have under this Agreement, upon occurrence of a Utility Default, the Aggregator Supplier shall be entitled to terminate this Agreement by issuing a Termination Notice to the Utility Utility; provided that before issuing the Termination Notice, the Aggregator Supplier shall by a notice inform the Utility of its intention to issue the Termination Notice and grant 15 (fifteen) days to the Utility to make a representation, and may after the expiry of such 15 (fifteen) days, whether or not it is in receipt of such representation, issue the Termination Notice.

Termination for Utility Default. 17.2.1 19.2.1 In the event that any of the defaults specified below shall have occurred, and the Utility fails to cure such default within a Cure Period of 120 (one hundred and twenty) days or such longer period as has been expressly provided in this Agreement, the Utility shall be deemed to be in default of this Agreement (the “Utility Default”) unless the default has occurred as a result of any breach of this Agreement by the Aggregator Supplier or due to Force Majeure. The defaults referred to herein shall include the following: (a) The Utility commits a material default in complying with any of the provisions of this Agreement and such default has a Material Adverse Effect on the AggregatorSupplier; (b) the Utility has failed to make any payment to the AggregatorSupplier, and the Aggregator Supplier is unable to recover any unpaid amounts through the Letter of Credit, within the period specified in this Agreement; or (c) the Utility repudiates this Agreement or otherwise takes any action that amounts to or manifests an irrevocable intention not to be bound by this Agreement. 17.2.2 19.2.2 Without prejudice to any other right or remedy which the Aggregator Supplier may have under this Agreement, upon occurrence of a Utility Default, the Aggregator Supplier shall be entitled to terminate this Agreement by issuing a Termination Notice to the Utility Utility; provided that before issuing the Termination Notice, the Aggregator Supplier shall by a notice inform the Utility of its intention to issue the Termination Notice and grant 15 (fifteen) days to the Utility to make a representation, and may after the expiry of such 15 (fifteen) days, whether or not it is in receipt of such representation, issue the Termination Notice.

Termination for Utility Default. 17.2.1 19.2.1 In the event that any of the defaults specified below shall have occurred, and the Utility fails to cure such default within a Cure Period of 120 (one hundred and twenty) days or such longer period as has been expressly provided in this Agreement, the Utility shall be deemed to be in default of this Agreement (the “Utility Default”) unless the default has occurred as a result of any breach of this Agreement by the Aggregator or due to Force Majeure. The defaults referred to herein shall include the following: (a) The Utility commits a material default in complying with any of the provisions of this Agreement and such default has a Material Adverse Effect on the Aggregator; (b) the Utility has failed to make any payment to the Aggregator, and the Aggregator is unable to recover any unpaid amounts through the Letter of Credit, within the period specified in this Agreement; or (c) the Utility repudiates this Agreement or otherwise takes any action that amounts to or manifests an irrevocable intention not to be bound by this Agreement. 17.2.2 19.2.2 Without prejudice to any other right or remedy which the Aggregator may have under this Agreement, upon occurrence of a Utility Default, the Aggregator shall be entitled to terminate this Agreement by issuing a Termination Notice to the Utility Utility; provided that before issuing the Termination Notice, the Aggregator shall by a notice inform the Utility of its intention to issue the Termination Notice and grant 15 (fifteen) days to the Utility to make a representation, and may after the expiry of such 15 (fifteen) days, whether or not it is in receipt of such representation, issue the Termination Notice.

Termination for Utility Default. 17.2.1 19.2.1 In the event that any of the defaults specified below shall have occurred, and the Utility fails to cure such default within a Cure Period of 120 90 (one hundred and twentyninety) days or such longer period as has been expressly provided in this Agreement, the Utility shall be deemed to be in default of this Agreement (the “Utility Default”) unless the default has occurred as a result of any breach of this Agreement by the Aggregator Supplier or due to Force Majeure. The defaults referred to herein shall include the following: (a) The Performance Security-Utility has been encashed and appropriated in accordance with Clause 9.2 and the Utility fails to replenish or provide fresh Performance Security-Utility within a Cure Period of 15 (fifteen) days; (b) subsequent to the replenishment or furnishing of fresh Performance Security- Utility in accordance with Clause 9.2, the Utility fails to meet any Condition Precedent or cure the Utility Default, as the case may be, for which whole or part of the Performance Security-Utility was appropriated, within a Cure Period of 120 (one hundred and twenty) days; (c) The Utility commits a material default in complying with any of the provisions of this Agreement and such default has a Material Adverse Effect on the AggregatorSupplier; (bd) the Utility has failed to make any payment to the AggregatorSupplier, and the Aggregator Supplier is unable to recover any unpaid amounts through in accordance with the Letter provisions of Credit, within the period specified in this Agreementapplicable rules issued by the Ministry of Power; or (ce) the Utility repudiates this Agreement or otherwise takes any action that amounts to or manifests an irrevocable intention not to be bound by this Agreement. 17.2.2 19.2.2 Without prejudice to any other right or remedy which the Aggregator Supplier may have under this Agreement, upon occurrence of a Utility Default, the Aggregator Supplier shall be entitled to terminate this Agreement by issuing a Termination Notice to the Utility Utility; provided that before issuing the Termination Notice, the Aggregator Supplier shall by a notice inform the Utility of its intention to issue the Termination Notice and grant 15 (fifteen) days to the Utility to Utilityto make a representation, and may after the expiry of such 15 (fifteen) days, whether or not it is in receipt of such representation, issue the Termination Notice.