Event of Failure definition

Event of Failure means the occurrence of one or more of the following events:

Event of Failure shall have the meaning given to such term in Clause 5.3 of this Agreement;

Event of Failure means the occurrence of any event(s) which trigger the accrual of Liquidated Damages.

Examples of Event of Failure in a sentence

• The Company understands that any Event of Failure (as defined above) could result in economic loss to the Holder.

• Nothing herein shall limit the Holder’s right to pursue actual damages (to the extent in excess of the Failure Payments) for the Company’s Event of Failure, and the Holder shall have the right to pursue all remedies available at law or in equity (including a decree of specific performance and/or injunctive relief).

• Notwithstanding the above, if a particular Event of Failure results in an Event of Default pursuant to Section 11 hereof, then the Failure Payment, for that Event of Failure only, shall be considered to have been satisfied upon payment to the Holder of an amount equal to the greater of (i) the Failure Payment, or (ii) the Default Amount, payable in accordance with Section 11.

• The Failure Payment Shares representing accrued Failure Payments for each Event of Failure shall be issued and delivered on or before the fifth (5th) business day of each month following a month in which Failure Payments accrued.

• Nothing herein shall limit Holder’s right to pursue actual damages (to the extent in excess of the Failure Payments) for the Company’s Event of Failure, and Holder shall have the right to pursue all remedies available at law or in equity (including a decree of specific performance and/or injunctive relief).

More Definitions of Event of Failure

Event of Failure means any of the events set out in Clause 3.2.1.1;

Event of Failure means (i) the occurrence of a Delivery Failure or (ii) the occurrence of a Transfer Delivery Failure.

Event of Failure means the occurrence of any of the events set out in Clause 3.2.1 of the Cash Escrow and Sponsor Bank Agreement or such other event as may be agreed among the Company, the Selling Shareholders and the BRLMs in writing.

Event of Failure shall have the meaning ascribed to such term in the Cash Escrow and Sponsor Bank Agreement;

Event of Failure shall have the meaning given to such term in Section 5.3;

Event of Failure has the meaning set forth in Section 3.07.

Event of Failure shall have the meaning given to such term in Clause 5.3; “FEMA” shall mean the Foreign Exchange Management Act, 1999;