Emera Default definition

Emera Default has the meaning set forth in Section 11.1;
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Emera Default has the meaning set forth in Section 14.1; “Emera Group” has the meaning set forth in Section 16.1;
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Examples of Emera Default in a sentence

  • Nothing in this Scheduling Protocol affects the rights and remedies available to Nalcor in the case of an Emera Default pursuant to any of the Transmission Agreements.

  • Upon the occurrence of an Emera Default referred to in Section 11.1(b), Nalcor may, without obligation to do so, make payment on behalf of Emera of such monies as may be required to obtain a discharge and release of any Encumbrance, other than a Permitted Encumbrance, affecting the Maritime Link and any amount so paid by Nalcor shall bear interest at the Prime Rate plus 10% per annum from the date of advance and be payable by Emera to Nalcor on demand.

  • No Emera Default or Nalcor Default will be waived or deemed to have been waived solely by any inspection by or on behalf of the other Party.

  • This includes, but is not limited to providing personnel to provide professional services, preparation of plan, specifications and estimates for the Used Oil Recycling Program and Solid Waste and Recycling Technical Working Group.

  • If (i) there is an Emera Default as set forth in Section 11.1(h), (ii) there are damages due to Nalcor or an Affiliate of Nalcor under the New Brunswick Transmission Utilization Agreement or the MEPCO Transmission Rights Agreement, and (iii) Nalcor or Nalcor LP exercises an option to purchase Emera NL’s Partnership Interest as set forth in this Agreement, the purchase price payable pursuant to such option shall be reduced by the amount of such damages due.

  • Notwithstanding anything to the contrary in this Agreement, Emera will not be in breach of, and shall not be liable to Nalcor, for any Losses under this Agreement and no Emera Default shall occur, as a result of any interruption to, or non-provision of, the Transmission Facilitation Service that is caused by a Forgivable Event affecting the Emera Facilities.

  • Upon the occurrence of an Emera Default referred to in Section 12.1(b) or 12.1(c), Nalcor may, without obligation to do so, make payment on behalf of Emera of such monies as may be required to obtain a discharge and release of any Encumbrance, other than a Permitted Encumbrance, affecting the Maritime Link and any amount so paid by Nalcor shall bear interest at the Prime Rate plus 10% per annum from the date of advance and be payable by Emera to Nalcor on demand.

Related to Emera Default

  • 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.

  • MI Default has the meaning given to it in paragraph 6.1 of Framework Schedule 9 (Management Information);

  • Financing Default means an event which would constitute (or with notice or lapse of time or both would constitute) an event of default (which event of default has not been cured) under or would otherwise violate or breach (i) any financing arrangement of the Company or any of its Subsidiaries in effect as of the time of the aforementioned event, and any extensions, renewals, refinancings or refundings thereof in whole or in part; and (ii) any provision of the Company's or any of its Subsidiary's constitutional documents.

  • 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).

  • Senior Default means any Senior Payment Default or Senior Covenant Default.

  • Incipient Default means any occurrence that is, or with notice or lapse of time or both would become, an Event of Default.

  • Swap Default Any of the circumstances constituting an “Event of Default” under the Swap Agreement.

  • Reporting Default means a Default described in Section 6.01(d).

  • Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

  • Material Event of Default means any Event of Default arising under Section 10.01(a), 10.01(b) (solely with respect to a default related to Section 8.01, 8.20 or 9.13), 10.01(f), 10.01(i), 10.01(j), 10.01(n) or 10.01(o).

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

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

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • Loan Event of Default An “Event of Default” as defined in the Loan Agreement.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Funding Default as defined in Section 2.21.

  • 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.

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • 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)).

  • Major Default means any Event of Default occurring under Sections 4.1(a), 4.1(c), 4.1(l), or 4.1(p).

  • Senior Event of Default means an Event of Default under (and as defined in) the Senior Facilities Agreement.

  • Existing Defaults means (i) all Existing Defaults (as that term is defined in the Forbearance Agreements) and defaults with respect to other matters stated in the Forbearance Agreements, and (ii) the 2005 Tax Default.

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • Event of Default wherever used herein, means any one of the following events (whatever the reason for such 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):

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

  • Default means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default.