Upon Default of Project Developer Clause Samples
The 'Upon Default of Project Developer' clause outlines the actions and remedies available if the project developer fails to meet their contractual obligations. Typically, this clause specifies what constitutes a default, such as missed deadlines, failure to deliver agreed-upon work, or insolvency, and details the steps the other party may take, such as issuing a notice of default, suspending performance, or terminating the agreement. Its core practical function is to provide a clear process for addressing breaches by the developer, thereby protecting the interests of the other party and ensuring accountability in the project.
Upon Default of Project Developer. Transmission Provider may terminate the Generation Interconnection Agreement upon the Default of Project Developer of its obligations under the Generation Interconnection Agreement by providing Project Developer and the Transmission Owner prior written notice of termination.
Upon Default of Project Developer. Transmission Provider may terminate the Wholesale Market Participation Agreement upon the Default of Project Developer of its obligations under the Wholesale Market Participation Agreement by providing Project Developer and Transmission Owner prior written notice of termination.