Immediate Termination Event definition

Immediate Termination Event means any of the following events: (a) (abandonment): the Operator wholly or substantially abandons the Services; (b) (Insolvency Event of the Operator): an Insolvency Event occurs in relation to the Operator, whether or not the Operator is then in breach of a State Project Document; (c) (Specified Event): the occurrence of: (i) 2 or more different Specified Events in any category in any 3 consecutive Months; (ii) six or more different Specified Events in any category in any 12 consecutive Months; or (iii) 2 or more of the same Specified Event in any 6 consecutive Months; (d) (Failures): more than five occurrences of a Failure of the same nature; (e) (multiple Events of Default): a total of 5 or more Events of Default have been notified by the State to the Operator in any 12 consecutive Months (which notice is not required to be a Default Notice); (f) (Change in Control): a Change in Control of the Operator or the Manager, or a Change of Manager, as the case may be, occurs without the consent of the State in accordance with Clause 35.4; or (g) [Not Disclosed] Indemnified Person has the meaning given to it in Clause 26.5.

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Immediate Termination Event shall have the meaning set forth in ‎Section 8.4(c).

Immediate Termination Event means the termination of the Liquidity Provider’s obligation to purchase the Series 2014A Certificates supported by its Liquidity Facility without notice or demand in accordance with the Liquidity Facility.

Examples of Immediate Termination Event in a sentence

Any replacement of a Major Subcontractor in accordance with this clause 8 shall not constitute an Immediate Termination Event under clause 75.2(a)(iii) of the Project Agreement.
A Party may, but shall not have the obligation to, terminate this Agreement before the end of the Term for any reason set forth in this Subsection 1(c) as an Immediate Termination Event, as defined below.
In the event such Default is cured prior to becoming an Immediate Termination Event, the Bank’s obligations shall be automatically reinstated and the terms of this Agreement will continue in full force and effect (unless the Bank’s obligation to purchase Bonds hereunder shall otherwise have terminated or been suspended or in accordance with the terms of this Agreement).
The Contracting Authority may use the design whether embodied in the documents or stemming therefrom without recourse to the Contractor or its Subcontractors if this Agreement is terminated prematurely pursuant to Article 10.1 (Termination due to an Immediate Termination Event), Article 10.2 (Termination due to Contractor Default), Article 10.5 (Termination due to a (Prolonged) Delay Event) or Article 10.6 (Termination due to a Force Majeure Event).
The obligation of the Bank to honor a Drawing or to make an Advance on any date is subject to the conditions precedent that on the date of such Drawing or Advance (a) the Bank shall have timely received a properly completed Drawing and (b) no Immediate Termination Event or Suspension Event shall have occurred and be continuing.
Notwithstanding anything to the contrary contained herein, no tender or mandatory purchase of 2017 Series B-1 Bonds shall be available after the occurrence of an Immediate Termination Event (as defined in the Initial Liquidity Facility).
Concurrently with the occurrence of an Immediate Termination Event or a Suspension Event or a No-Issuance Notice, the Authority shall give notice to the Issuing and Paying Agent and the Dealer.
Unless the Authority shall have otherwise previously advised the Bank in writing, delivery to the Bank of a Drawing shall be deemed to constitute a representation and warranty by the Authority that, on the date of the Advance relating to such Drawing, no Immediate Termination Event or Suspension Event shall have occurred and be continuing.
If an extended force majeure event occurs causing the Project Company’s obligations to be suspended for 180 days or longer, an Immediate Termination Event has occurred, (see section above), and the State may terminate the Project Deed, propose a variation to excise the affected school facility/site from the Project, or continue paying the monthly service payment (less operating costs not incurred).

More Definitions of Immediate Termination Event

Immediate Termination Event means the occurrence of any event set forth in Section

Immediate Termination Event shall have the meaning provided in Section 7.02(a). “Incipient Invalidity Event” means (i) the validity or enforceability of any provision of the Law or the Ordinance that impacts the. Commission’s ability or obligation to levy or impose its one-half of one cent retail transactions and use tax in the incorporated and unincorporated territory of the County of San Diego (the “Sales Tax”) in accordance with the provisions of Part

Immediate Termination Event means the occurrence of any Event of Default set forth in Section 7.01(a)(i), 7.01(e), 7.01(g)(i), 7.01(i) or 7.01(j)(i).

Immediate Termination Event means an event identified in a Liquidity Facility that permits the Liquidity Facility Provider to immediately terminate without notice or demand its obligation to purchase Bonds under such Liquidity Facility.

Immediate Termination Event has the meaning assigned to that term in Section 7.02(a). “Interest Component” has the meaning assigned to that term in Section 2.01.

Immediate Termination Event means a Material Breach described in subclause (a), (e) or (f) of the definition of “Material Breach”; Improvements has the meaning given in clause 7.2 of the Base Agreement;