Defaulting Parties definition

Defaulting Parties means Calpine and each Calpine Transaction Party, in respect of Calpine Events of Default, and Bear Stearns and CalBear, in respect of Bear Stearns Events of Default.
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Defaulting Parties means a Party substantially breaching its obligation under the Contract and/or under the current Agreement - Background means Pre-existing know-how as defined in Annex II of the Contract, i.e. information owned by the Parties and resulting from their own activities prior to the conclusion of the Contract or acquired in parallel with it and necessary for carrying out the Project. - Foreground means Knowledge as defined in Annex II of the Contract, i.e. any results arising, including information, from the Project as well as from any other co-funded project.
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Defaulting Parties has the meaning ascribed to such term in Section 3.1 hereof.
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Examples of Defaulting Parties in a sentence

  • A Defaulting Party’s “Pro Rata Portion” for purposes of this Section 1.6(a) is a fraction, the numerator of which is the Investor Equity Commitment of such Defaulting Party and the denominator of which is the aggregate Investor Equity Commitments of all Defaulting Parties.

  • A Defaulting Party’s “Pro Rata Portion” for purposes of this Section 1.5(a) is a fraction, the numerator of which is the Investor Equity Commitment of such Defaulting Party and the denominator of which is the aggregate Investor Equity Commitments of all Defaulting Parties.

  • Defaulting Parties which must withdraw as a result of cancellation of the Collaboration Agreement, cf.

  • Defaulting Parties who must withdraw from the Project as a result of cancellation of the Collaboration Agreement, cf.

  • In the event that all parties are found to be Defaulting Parties, no party shall be entitled to court costs, attorney’s fees or litigation expenses.

  • A Defaulting Party’s “Pro Rata Portion” for the purposes of this Section 3.1 is a fraction, the numerator of which is such Defaulting Party’s Contemplated Ownership Percentage and the denominator of which is the aggregated Contemplated Ownership Percentage of all Defaulting Parties.

  • The obligations of the Defaulting Party and the rights of the Non Defaulting Parties shall survive the surrender of the Licence, abandonment of Joint Operations and termination of this Agreement.

  • Further, in the event the Non Defaulting Parties take up the Defaulted Interest in proportions other than the proportions in which during the period of default they delivered CO2 which but for the default would have been lifted by the Defaulting Party, fair and equitable adjustment shall be made between the Parties so that all such Non Defaulting Parties receive Storage Capacity or its value in the same proportions as they receive the Defaulted Interest.

  • If the Default subsists for sixty (60) days after the date of notification by Operator under Article 12.1(i) and the Defaulting Party continues to hold a Percentage Interest, then from the end of such sixty (60) day period, while the Default subsists, the Defaulting Party shall grant to Operator a perfected security interest against the Defaulting Parties accounts receivable, as necessary to insure payment to the Non-defaulting Parties.

  • A Defaulting Party’s “Pro Rata Portion” for purposes of this Section 1.8 is a fraction, the numerator of which is the Equity Commitment of such Defaulting Party and the denominator of which is the aggregate Equity Commitments of all Defaulting Parties.


More Definitions of Defaulting Parties

Defaulting Parties shall have the meaning set forth in Section 6.0.
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Defaulting Parties has the meaning given to it in Clause 19.1.
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Defaulting Parties has the meaning given in Clause 3.
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Related to Defaulting Parties

  • Defaulting Partner shall have the meaning set forth in Section 9.1.

  • Defaulting Party has the meaning specified in Section 6(a).

  • Potentially Defaulting Party means a Party that, but for a cure of a Potential Event of Default or failure of performance, would be a Defaulting Party.

  • Defaulting Purchaser means, subject to Section 2.11(c), any Purchaser that (a) has failed to (i) fund all or any portion of such Purchaser’s Pro Rata Share of any Payment Amount by the time such amount was required to be funded hereunder unless such Purchaser notifies the Administrative Agent and the Seller Representative in writing that such failure is the result of such Purchaser’s good faith determination that one or more of the conditions precedent to funding (specifically identified in writing and including the particular default if any) has not been satisfied, or (ii) pay to the Administrative Agent or any other Purchaser any other amount required to be paid by it hereunder within two Business Days of the date when such payment is due, (b) has notified the Seller Representative, any Seller, the Administrative Agent, or any Purchaser in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to the effect that it does not intend to comply with any of its funding obligations under this Agreement (unless such writing or public statement indicates that such position is based on such Purchaser’s good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) cannot be satisfied) or generally under other agreements in which it commits to extend credit, (c) has failed, within three Business Days after written request by the Administrative Agent or the Seller Representative, to confirm in writing to the Administrative Agent and the Seller Representative that it will comply with its prospective funding obligations hereunder (provided that such Purchaser shall cease to be a Defaulting Purchaser pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Seller Representative) or (d) has, or has a direct or indirect parent company that has, (i) become the subject of an Insolvency Event; provided that a Purchaser shall not be a Defaulting Purchaser solely by virtue of the ownership or acquisition of any equity interest in that Purchaser or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Purchaser with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Purchaser (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Purchaser. Any determination by the Administrative Agent that a Purchaser is a Defaulting Purchaser under any one or more of clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Purchaser shall be deemed to be a Defaulting Purchaser (subject to Section 2.11(c)) upon delivery of written notice of such determination to the Seller Representative and each Purchaser.

  • Defaulting Entity shall have the meaning set forth for such term in Section 6.02(a) hereof. “Deficiency Amount” shall have the meaning set forth for such term in Section 4.03(a) hereof. “Department” shall mean the South Carolina Department of Revenue.