Termination Payment - BOT Company Event of Default Sample Clauses

Termination Payment - BOT Company Event of Default. (a) Commencing on the date the MOIT gives a Notice of Intention to Terminate under Article 21.4(a) (the “MOIT Side Termination Notice Date”), the MOIT shall have the right (but shall not be obliged) (“Buy Out Option”) to take over all the assets listed (as at the MOIT Side Termination Notice Date) in the Asset Register provided that such takeover shall not apply if any Party is able to arrange a sale of the Facility to an independent local or foreign entity satisfactory to the MOIT, and which sale has been approved by the MOIT. In such case the buying party must agree to be bound by this BOT Contract. Exercise of the Buy Out Option shall be by notice to the BOT Company. The Buy Out Option may be exercised at any time between the MOIT Side Termination Notice Date and the date thirty (30) Days prior to the Termination Date.
Sample 1
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Related to Termination Payment - BOT Company Event of Default

  • Termination Events This Agreement may, by notice given prior to or at the Closing, be terminated:

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately.

  • No Event of Default No Default or Event of Default has occurred and is continuing.

  • Event of Default Any of the following shall constitute an “Event of Default”:

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