Licensee Default definition

Licensee Default shall occur if Licensee defaults in the performance of any material obligation herein and such default is not cured within fifteen (15) calendar days after receipt from Licensor of written notice of such default; provided that if: (i) such default cannot be cured with reasonable diligence during such fifteen (15) calendar day period; and (ii) Licensee takes reasonable steps during such fifteen (15) calendar days to cure of such default, then such default shall not constitute a Licensee Default. In the event Licensee is late making any of the payments as set forth in Section 2.2, and if cured within fifteen (15) calendar days as set forth above, Licensee is subject to a late fee of $1,000.
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Licensee Default means the occurrence of either or both of the following events: (a) failure by Licensee at any time to pay, when due, any sums payable by Licensee hereunder within ten (10) days after notice of such failure is given to Licensee by Licensor and (b) failure by Licensee to observe or perform any other covenant, agreement, condition or provision of this Agreement or any License, if such failure shall continue for more than thirty (30) days after notice of such failure is given to Licensee by Licensor, provided that there shall not be a Licensee Default under this clause (b) with respect to matters that cannot be reasonably cured within such 30 day period so long as within such 30 day period Licensee has commenced such cure and diligently proceeds in a reasonable manner thereafter to complete the same. LICENSE FEE -- as defined in Section 6.1. LICENSOR -- as defined in the introductory paragraph.
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Licensee Default shall have the meaning set forth in Section 20.1.
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Examples of Licensee Default in a sentence

  • Upon occurrence of a Licensee’s Default, Maha-Metro shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent.

  • Upon replenishment or furnishing of a fresh Security Deposit, as the case may be, as aforesaid, the Licensee shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Licensee Default, and in the event of the Licensee not curing its default within such Cure Period, Maha-Metro shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 15.

  • Upon the occurrence of a Licensee Default, and at any time after such occurrence and while the Licensee Default is continuing, SW may give notice to the Licensee terminating this Agreement with immediate effect or with effect from the date which is specified in the notice.

  • The Licensee acknowledges that it may be necessary for SW, without prejudice to Clause 8.10, to report a Licensee Default to the Commission and the Central Market Agency where it considers that the Licensee may be in breach of a term or condition of any Licence by virtue of such Licensee Default.

  • Upon occurrence of a Licensee’s Default, the Authority shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Security Deposit as Damages for such Licensee Default or failure to meet any Condition Precedent.

  • Upon replenishment or furnishing of a fresh Security Deposit, as the case may be, as aforesaid, the Licensee shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Licensee Default, and in the event of the Licensee not curing its default within such Cure Period, the Authority shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 15.

  • Upon replenishment or furnishing of a fresh Security Deposit, as the case may be, as aforesaid, the Licensee shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the Licensee Default, and in the event of the Licensee not curing its default within such Cure Period, Maha-Metro shall be entitled to encash and appropriate such Security Deposit as Damages, and to terminate this Agreement in accordance with Article 15.

  • If there is a Licensee Default occurring under Clause 1 (Non-payment) or Clause 2 (Persistent non-payment) of Schedule 3 (Licensee Default), then SW shall be entitled to exercise its rights for payment under the Guarantee.

  • Upon the occurrence of a Licensee Default, and at any time after such occurrence and while the Licensee Default is continuing, SW may give notice to the Licensee terminating this Agreement with effect from the date on which the notice is given.

  • The Licensee acknowledges that it may be necessary for SW, without prejudice to Clause 8.10, to report a Licensee Default to the Commission where it considers that the Licensee may be in breach of a term or condition of any Licence by virtue of such Licensee Default.


More Definitions of Licensee Default

Licensee Default means the occurrence of any of the following events in respect of either NMH or SVHG PROVIDED THAT such occurrence is not directly or indirectly caused by any act, neglect or default of the HSE or a breach by the HSE of its obligations under this Licence or the Lease including the withholding by the HSE of any payments payable to either of the Licensee’s pursuant to their respective Service Level Agreements:
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Licensee Default means any breach of the obligations or warranties of the Licensee under clause 21 (including, repudiatory breach, breach of a fundamental term and any other default, act, omission, negligence or statement of the Licensee or Licensee Personnel in connection with data protection and in respect of which the Licensee is liable to the LAA; "Licensee Personnel" means all employees, agents, consultants, contractors and sub- contractors (as applicable), and all former employees, ag ents, consultants and contractors, of the Licensee and its sub- contractors; "Management Information" means the management information to be provided to the LAA in accordance with Clause Error! Reference source not found., Schedule 4 (Management Information) and the Specification;
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Licensee Default means any breach of the obligations or warranties of the Licensee under clause 21 (including, repudiatory breach, breach of a fundamental term and any other default, act, omission, negligence or statement of the Licensee or Licensee Personnel in connection with data protection and in respect of which the Licensee is liable to the LAA; "Licensee Personnel" means all employees, agents, consultants, contractors and sub- contractors (as applicable), and all former employees, ag ents, consultants and contractors, of the Licensee and its sub- contractors; "Management Information" means the management information to be provided to the LAA in accordance with Clause Error! Reference source not found., Schedule 4 (Management Information) and the Specification; "Mobilisation Period" means the period f rom the Commencement Date to the Audit Commencement Date; “Mobilisation Plan” means the mobilisation plan provided by the Licensee in accordance with the requirements of the Specification and as set out in Schedule 7 (Mobilisation Plan);
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Licensee Default shall have the meaning given to such term in Section 12.1(a) of this Agreement.
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Licensee Default means any material breach by Licensee of any representation, covenant, warranty, or term of this Agreement that is not cured (if able to be cured) within sixty (60) consecutive days after the date of such Termination Notice (the failure of Licensee to pay the Consideration shall be deemed, without limitation, to constitute a material breach under this Agreement).
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Related to Licensee Default

  • Customer Default has the meaning set out in clause 8.3.

  • 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.

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

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

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

  • 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).

  • 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.

  • 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.

  • 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).

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

  • 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.

  • Minor Default means any Event of Default that is not a Major Default.

  • Landlord Default shall have the meaning given such term in Article 14.

  • Liquidity Event of Default with respect to any Liquidity Facility, has the meaning assigned to such term in such Liquidity Facility.

  • 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.

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

  • Collateral Event of Default has the meaning set forth in Section 13.01(b).

  • Payment Event of Default means an Event of Default specified in Section 7.1(a).

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

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • 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)).

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

  • Actionable Default means the occurrence of any of the following:

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

  • 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.

  • 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.