TERMINATION OPTION AND OTHER REMEDIES FOR NORTHWIND DEFAULT Sample Clauses

TERMINATION OPTION AND OTHER REMEDIES FOR NORTHWIND DEFAULT. If a Northwind Event of Default has occurred, Aladdin may terminate this Agreement by written notice to Northwind of the termination hereof. Upon such termination, Aladdin shall demand performance of the Unicom Guaranty and, unless within three (3) Business Days of such demand Unicom Corporation, the Guarantor, informs Aladdin in writing that Unicom Corporation shall perform the obligations of Northwind as set forth in this Agreement, Aladdin may cause the obligations of Northwind pursuant to this Agreement to be performed at the sole expense of Unicom Corporation in accordance with the terms of the Unicom Guaranty. In the event Unicom Corporation elects to perform the obligations of Northwind, Unicom Corporation shall perform the Work and shall meet the Substantial Completion Deadline and the Final Completion Deadline in accordance with the terms of this Agreement, and shall have the right to perform Northwind's obligations under the Related Agreements pursuant to the terms thereof. In the event Aladdin shall cause the obligations of Northwind pursuant to this Agreement to be performed at Unicom Corporation's sole expense, Northwind promptly shall withdraw from the Work site and transfer its rights, title and interest in the Plant and the Plant Plans and Specifications to Aladdin. In addition, Northwind promptly shall assign to Aladdin such of its contracts, including but not limited to warranties and guarantees, related to the Plant and the Work as Aladdin may request, and promptly remove such materials, equipment, tools, and instruments used by, and any debris or waste materials generated by, Northwind in the performance of the Work as Aladdin may direct, and Aladdin may take possession of any and all designs, materials, equipment, tools, and facilities of Northwind which are on the Work site. If Aladdin exercises such option, (i) Aladdin shall assume the obligations of Northwind under any contracts assigned to Aladdin pursuant to this section which are not in default by Northwind, (ii) upon completion of the Plant, Aladdin shall pay to Northwind an amount equal to the Plant Price less the cost to Aladdin to complete the Plant, provided that such amount does not exceed an amount equal to (x) the amount actually spent to date by Northwind in accordance with the terms of this Agreement plus (y) all amounts which Northwind is then contractually obligated to pay in respect of equipment and materials previously delivered to the Plant Site and labor and servi...
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Related to TERMINATION OPTION AND OTHER REMEDIES FOR NORTHWIND DEFAULT

  • Lenders Rights and Remedies After Default 11.1. Rights and Remedies. 94 11.2. Agent’s Discretion 96 11.3. Setoff 97 11.4. Rights and Remedies not Exclusive 97 11.5. Allocation of Payments After Event of Default 97

  • Injunctive Relief and Other Remedies with Respect to Covenants Executive acknowledges and agrees that the covenants and obligations of Executive with respect to noncompetition, confidentiality, nonsolicitation, and Company property relate to special, unique and extraordinary matters and that a violation of any of the terms of such covenants and obligations will cause the Company irreparable injury for which adequate remedies are not available at law. Therefore, Executive agrees that the Company (i) shall be entitled to an injunction, restraining order or such other equitable relief (without the requirement to post bond) restraining Executive from committing any violation of the covenants and obligations contained in this Section 9, and (ii) shall have no further obligation to make any payments to Executive hereunder following any material violation of the covenants and obligations contained in this Section 9. These remedies are cumulative and are in addition to any other rights and remedies the Company may have at law or in equity. In connection with the foregoing provisions of this Section 9, Executive represents that his economic means and circumstances are such that such provisions will not prevent him from providing for himself and his family on a basis satisfactory to him. Notwithstanding the foregoing, in no event shall an asserted violation of the provisions of this Section constitute a basis for deferring or withholding any amounts otherwise payable to the Executive under this Agreement following a Change of Control.

  • Remedies for Default In case of default as described in Paragraph 10 above, Landlord shall have the right to the following remedies which are intended to be cumulative and in addition to any other remedies provided under applicable law:

  • Rights and Remedies Upon Event of Default Upon and after an Event of Default, the Administrative Agent shall have the following rights and remedies on behalf of the Secured Parties in addition to any rights and remedies set forth elsewhere in this Security Agreement or the other Loan Documents, all of which may be exercised with or, if allowed by law, without notice to a Grantor:

  • Rights and Remedies Upon Breach If Executive breaches or threatens to commit a breach of any of the provisions of this Section 5 (the “Restrictive Covenants”), the Company shall have the following rights and remedies, each of which rights and remedies shall be independent of the other and severally enforceable, and all of which rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available to the Company under law or in equity:

  • Specific Performance and Other Remedies The parties hereto each acknowledge that the rights of each party to consummate the transactions contemplated hereby are special, unique and of extraordinary character, and that, in the event that any party violates or fails or refuses to perform any covenant or agreement made by it herein, the non-breaching party may be without an adequate remedy at law. The parties each agree, therefore, that in the event that either party violates or fails or refuses to perform any covenant or agreement made by such party herein, the non-breaching party or parties may, subject to the terms of this Agreement and in addition to any remedies at law for damages or other relief, institute and prosecute an action in any court of competent jurisdiction to enforce specific performance of such covenant or agreement or seek any other equitable relief.

  • Rights and Remedies Upon Default Upon occurrence of any Event of Default and at any time thereafter, the Secured Party shall have the right to exercise all of the remedies conferred hereunder and under the Notes, and the Secured Party shall have all the rights and remedies of a secured party under the UCC and/or any other applicable law (including the Uniform Commercial Code of any jurisdiction in which any Collateral is then located). Without limitation, the Secured Party shall have the following rights and powers:

  • Termination and Remedies 67 11.1. Termination....................................................67 11.2.

  • EQUITABLE RELIEF AND OTHER REMEDIES The parties acknowledge and agree that the other party’s remedies at law for a breach or threatened breach of any of the provisions of this Section would be inadequate and, in recognition of this fact, the parties agree that, in the event of such a breach or threatened breach, in addition to any remedies at law, the other party, without posting any bond, shall be entitled to obtain equitable relief in the form of specific performance, temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available.

  • No Waiver; Remedies, Etc No failure on the part of any Agent or any Lender to exercise, and no delay in exercising, any right hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right under any Loan Document preclude any other or further exercise thereof or the exercise of any other right. The rights and remedies of the Agents and the Lenders provided herein and in the other Loan Documents are cumulative and are in addition to, and not exclusive of, any rights or remedies provided by law. The rights of the Agents and the Lenders under any Loan Document against any party thereto are not conditional or contingent on any attempt by the Agents and the Lenders to exercise any of their rights under any other Loan Document against such party or against any other Person.

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