Authority Default Termination Sum definition

Authority Default Termination Sum means an amount which is reasonably determined by the Authority, on the basis of information available to the Authority following consultation with the Contractor and having regard to any representations made by the Contractor (provided that, if the Contractor does not agree with the Authority’s determination the matter shall be determined in accordance with the Dispute Resolution Procedure), as being equivalent to the amount the Contractor would have received (net of any payments already received under this Agreement) had this Agreement continued until the Expiry Date and the Contractor had met [the Minimum Expected Outcomes] less the additional costs that the Contractor would have incurred in providing the Services from the Termination Date to the Operational Period End Date (for the avoidance of doubt without adjusting either the Outcomes Payments or the additional costs for inflation);
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Authority Default Termination Sum means the amount payable in accordance with Clause 137 (Compensation on Termination by the Contractor or on Authority's Voluntary Termination);
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Authority Default Termination Sum means all outstanding properly incurred undisputed sums payable under this Contract, which shall be payable by the Authority in accordance with the provisions of clause 22 (Invoices);
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Examples of Authority Default Termination Sum in a sentence

  • Where this Agreement terminates pursuant to clause 41.2 (Termination on Authority Default) the Authority shall pay to the Contractor the Authority Default Termination Sum on the Termination Date.

  • The Authority Default Termination Sum shall be payable in accordance with Section 5 (General) of this Schedule Part 17 (Compensation on Termination).

  • COMPENSATION ON TERMINATION FOR AUTHORITY DEFAULT/VOLUNTARY TERMINATION On termination of this Agreement pursuant to clauses 41.1 (Voluntary Termination by the Authority) or 41.2 (Termination on Authority Default), the Authority shall pay the Contractor the Authority Default Termination Sum in accordance with clauses 55 (Miscellaneous Compensation Provisions) and 56 (Method of Payment).

  • In the event of the making of a determination or order by a court of final jurisdiction on an application for judicial review or audit review (within the meaning of the Local Government (Contracts) Act 1997) the result of which is that this Contract does not have effect or is otherwise unenforceable, then the Service Provider shall be entitled to be paid by the Authority the sum equivalent to the Authority Default Termination Sum.

  • To the extent that such assets and rights referred to in paragraph 1.2.7 above are not realised and applied by the Invoice Date, Sub-hubco shall on payment of the Authority Default Termination Sum assign such assets and rights to the Authority.

  • The Authority shall pay the Authority Default Termination Sum in accordance with paragraph 5 of Section 8 (Method of Payment).

  • To the extent that such assets and rights referred to in paragraph 304.6.5 above are not realised and applied by the Invoice Date, Project Co shall on payment of the Authority Default Termination Sum assign such assets and rights to the Authority.

  • To the extent that such assets and rights referred to in paragraph 1.2.7 above are not realised and applied by the Invoice Date, DBFM Co shall on payment of the Authority Default Termination Sum assign such assets and rights to the Authority.

  • COMPENSATION ON TERMINATION FOR AUTHORITY DEFAULT/VOLUNTARY TERMINATION On termination of this Agreement pursuant to clauses 1.218 (Voluntary Termination by the Authority) or 1.219 (Termination on Authority Default) or in the circumstances set out in clause (Local Government (Contracts) Act 1997), the Authority shall pay the Contractor the Authority Default Termination Sum in accordance with clauses (Miscellaneous Compensation Provisions) and (Method of Payment).

  • Where this Project Agreement is terminated pursuant to Clause 35 (Termination for Authority Default), the Authority will pay to PPP Co. the Authority Default Termination Sum on or before the date falling thirty (30) days after the Termination Date.


More Definitions of Authority Default Termination Sum

Authority Default Termination Sum has the meaning given to it in Clause 46 (Compensation on Termination for Authority Default/Voluntary Termination by the Authority);
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Authority Default Termination Sum has the meaning given to it in clause 51.2.1 (Compensation on Termination for Authority Default);
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Authority Default Termination Sum means the amount payable in accordance with clause 44.1 (Authority Default Termination Sum) Authority Direction means, in the event that there are any Transferring Employees and/or any Retained Transferring Employees, any direction given by the Authority to the Contractor (such direction to be confirmed in writing) in relation to or in connection with any persons employed or engaged in respect of any of the Services Authority Employees means all those persons employed by the Authority under a contract of employment (but excluding any person engaged by the Authority as an independent contractor or persons employed by any sub-contractor engaged by the Authority) Authority Ground Investigation means the ground investigation report in respect of the Hall Road Site undertaken by Sub Surface North West Limited dated March 2010 with report number NEZ 973A Authority Policies means the policies of the Authority referred to in Schedule 12 (Authority Policies) as any such policies may be amended in line with clause 53 (Authority and Contractor Changes) Authority Related Party means:
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Authority Default Termination Sum means the amount payable in accordance with clause 44.1 (Authority Default Termination Sum) Authority Direction means, in the event that there are any Transferring Employees and/or any Retained Transferring Employees, any direction given by the Authority to the Contractor (such direction to be confirmed in writing) in relation to or in connection with any persons employed or engaged in respect of any of the Services Authority Employees means all those persons employed by the Authority under a contract of employment (but excluding any person engaged by the Authority as an independent contractor or persons employed by any sub-contractor engaged by the Authority)
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Authority Default Termination Sum means the amount payable in accordance with clause 49 (Compensation on Termination for Authority Default/Voluntary Termination); Authority Equipment those items of furniture, teaching resources, equipment, consumables and personal effects including all ICT equipment to be identified by the Authority to the Contractor in accordance with the Decant Protocol which for the avoidance of doubt shall exclude the Library Equipment; Authority Existing Employee means in relation to any of the Services, all those persons employed by the Authority under a contract of employment (excluding to avoid doubt (without limitation) any person engaged by the Authority as an independent contractor or persons employed by any sub-contractor engaged by the Authority) who are wholly or substantially engaged in the provision of the Relevant Service as at the Relevant Service Transfer Date;
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Authority Default Termination Sum has the meaning given to it in paragraph 1.2 of Section 2 of Schedule 6D; "Authority Indemnity Sum" shall bear the meaning ascribed thereto in clause 22.7.2 (Taxation);
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Related to Authority Default Termination Sum

  • Authority Default shall have the meaning set forth in Clause 23.2;

  • Bankruptcy Default has the meaning assigned to such term in Section 6.01.

  • Forbearance Termination Event has the meaning set forth in Section 3(a) hereto.

  • Potential Termination Event means an event which, with the passage of time or the giving of notice, or both, would constitute a Termination Event.

  • Unmatured Termination Event means an event that, with the giving of notice or lapse of time, or both, would constitute a Termination Event.

  • Bank Default means (i) the refusal (which has not been retracted) of a Bank to make available its portion of any Borrowing or to fund its portion of any unreimbursed payment under Section 2.03(c) or (ii) a Bank having notified in writing the Borrower and/or the Agent that it does not intend to comply with its obligations under Section 1.01 or Section 2, in the case of either clause (i) or (ii) as a result of any takeover of such Bank by any regulatory authority or agency.

  • Monetary Default Notice shall have the meaning assigned to such term in Section 11(a).

  • ERISA Termination Event means (i) a “Reportable Event” described in Section 4043 of ERISA and the regulations issued thereunder (other than a “Reportable Event” not subject to the provision for 30-day notice to the PBGC under such regulations), or (ii) the withdrawal of a Borrower or any of its ERISA Affiliates from a “single employer” Plan during a plan year in which it was a “substantial employer”, both of such terms as defined in Section 4001(a) of ERISA, or (iii) the filing of a notice of intent to terminate a Plan or the treatment of a Plan amendment as a termination under Section 4041 of ERISA, or (iv) the institution of proceedings to terminate a Plan by the PBGC or (v) any other event or condition which might constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Plan or (vi) the partial or complete withdrawal of a Borrower or any ERISA Affiliate of such Borrower from a “multiemployer plan” as defined in Section 4001(a) of ERISA.

  • Default Event means an event or circumstance which leads Operator to determine that a Venue User is or appears to be unable or likely to become unable to meet its obligations in respect of an Order or Transaction or to comply with any other obligation under an Agreement or Applicable Law.

  • Commitment Termination Event means the earlier of (a) automatically and without notice or further action, the occurrence of any Event of Default described in Section 7.01(i) (Bankruptcy, Insolvency, etc.) with respect to the Borrower and (b) the occurrence and continuation of any other Event of Default under this Agreement pursuant to which either a Commitment Termination Event has been expressly declared or a declaration of the Loan to be due and payable has been given, in each case pursuant to Section 7.03 (Action if other Event of Default).

  • Swap Termination Event means any event defined as a “Swap Termination Event” in the Interest Rate Swap Agreement.

  • Additional Default means any provision contained in any document or instrument creating or evidencing Indebtedness of the Borrower or any of its Subsidiaries which permits the holder or holders of such Indebtedness to accelerate (with the passage of time or giving of notice or both) the maturity thereof or otherwise requires the Borrower or any of its Subsidiaries to purchase such Indebtedness prior to the stated maturity thereof and which either (i) is similar to any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement, but contains one or more percentages, amounts or formulas that is more restrictive or has a xxxxxxx xxxxx period than those set forth herein or is more beneficial to the holder or holders of such other Indebtedness (and such provision shall be deemed an Additional Default only to the extent that it is more restrictive or more beneficial) or (ii) is different from the subject matter of any Default or Event of Default contained in Article VIII of this Agreement, or related definitions in Section 1.1 of this Agreement.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Company Termination Event has the meaning set forth in Section 10 hereof.

  • Non-Monetary Default Cure Period shall have the meaning assigned to such term in Section 11(d).

  • Bankruptcy Event of Default means any Event of Default under Section 8.01(f) of the Credit Agreement.

  • Special Default means (i) the failure by Owner to pay any amount of principal of or interest on any Equipment Note when due or (ii) the occurrence of any Default or Event of Default referred to in Section 5.01(v), (vi) or (vii).

  • Consultation Termination Event shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Non-Monetary Default Notice shall have the meaning assigned to such term in Section 11(d).

  • Forbearance Default means any of: (A) the occurrence of any Default or Event of Default other than the Specified Defaults, (B) the failure of Borrower or any other Designated Company to timely and strictly comply with any term, condition, covenant, agreement or other obligation set forth in this Agreement, (C) the failure of any representation or warranty made by Borrower or any other Designated Company under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other material breach of any such representation or warranty, (D) the taking of any action by Borrower or any other Designated Company to in any way repudiate or assert a defense to any Obligation under the Credit Agreement, this Agreement or any of the other Loan Documents or the assertion of any claim or cause of action against Administrative Agent, Co-Administrative Agent or any Lender relating in any way thereto, (E) the date on which Administrative Agent, in its sole discretion or at the direction of the Required Lenders, delivers to Borrower a written notice terminating the Forbearance Period, which notice may be delivered at any time upon or after the delivery of any Proposed Vendor Payment Schedule Rejection Notice (as defined below) by the Administrative Agent in accordance with Section 3(c)(ii) hereof, or (F) Borrower fails to receive Inventory purchased with a CIA Payment (as defined below) within six (6) Business Days of the making of such CIA Payment. The occurrence of any Forbearance Default shall constitute an immediate Event of Default under the Credit Agreement and other Loan Documents. Upon the termination or expiration of the Forbearance Period, the agreement of Administrative Agent, Co-Administrative Agent and each Lender hereunder to forbear from exercising its default-related rights and remedies shall immediately terminate without the requirement of any demand, presentment, protest, or notice of any kind, all of which Borrower and each other Designated Company hereby waives. Borrower and each other Designated Company further agrees that any of Administrative Agent (upon direction of the Required Lenders to the extent provided in the Credit Agreement) and each Lender may at any time after the expiration or termination of the Forbearance Period proceed to exercise any and all of its rights and remedies under any or all of the Credit Agreement, any other Loan Document and/or applicable law, all of which rights and remedies are hereby fully reserved by Administrative Agent and each Lender. Any agreement by Administrative Agent and the Lenders to extend the Forbearance Period, if any, must be set forth in writing and signed by Administrative Agent and the Lenders. Borrower and each other Designated Company acknowledges that none of Administrative Agent or any Lender has made any assurances concerning any possibility of any extension of the Forbearance Period. Borrower and each other Designated Company acknowledges and agrees that any Loan or other financial accommodation which Administrative Agent, Co-Administrative Agent or any Lender makes to or for the benefit of Borrower or any other Designated Company on or after the Forbearance Effective Date has been made by such party in reliance upon, and is consideration for, among other things, the general releases and indemnities contained in Section 5 hereof and the other covenants, agreements, representations and warranties of Borrower and each other Designated Company hereunder.

  • PTC Event of Default means, with respect to each Trust Agreement, the failure to pay within 10 Business Days after the due date thereof: (i) the outstanding Pool Balance of the applicable Class of Certificates on the Final Legal Distribution Date for such Class or (ii) interest due on such Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or a withdrawal from the Cash Collateral Account relating to a Liquidity Facility for such Class, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee entitled thereto).

  • Incipient Event of Termination means an event that but for notice or lapse of time or both would constitute an Event of Termination.

  • Monetary Default shall have the meaning assigned to such term in Section 11(a).

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).