Licensor Event of Default definition

Licensor Event of Default means: (A) the non-recurring occurrence of any of the following which is not cured by Licensor within thirty (30) days of Licensor’s receipt of written notice from Licensee of such occurrence: (x) Licensor fails to timely perform or breaches any of its material obligations hereunder or otherwise materially breaches this Agreement, or (y) Licensor assigns or otherwise transfers this Agreement in violation of this Agreement; or (B) upon the following: (i) Licensor becoming unable to pay its debts; (ii) a petition being presented or a meeting being convened for the purpose of considering a resolution for the making of an administration order, the winding-up, bankruptcy or dissolution of Licensor; (iii) Licensor becoming insolvent; (iv) a petition under any bankruptcy or analogous act being filed by or against Licensor (which petition, if filed against Licensor, shall not have been dismissed by the relevant authority within thirty (30) days thereafter); (v) Licensor executing an assignment for the benefit of creditors; (vi) a receiver being appointed for the assets of Licensee; or (vii) Licensor taking advantage of any applicable bankruptcy, insolvency or reorganization or any other like statute.
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Licensor Event of Default shall have the meaning as set forth in Clause 31.2.1;
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Licensor Event of Default means: (a) the non-recurring occurrence of any of the following which is not cured by Licensor within thirty (30) days of Licensor’s receipt of written notice from Licensee of such occurrence: (x) Licensor fails to timely perform or breaches any of its material obligations hereunder or otherwise materially breaches this Agreement, or (y) Licensor assigns or otherwise transfers this Agreement in violation of this Agreement; or (b) upon the following:
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Examples of Licensor Event of Default in a sentence

  • Notwithstanding the foregoing, if there is an Action or Proceeding pending or commenced between the Parties with respect to the particular Licensor Event of Default or Licensee Event of Default, as applicable, covered by such Final Notice, the foregoing thirty (30)-day period shall be tolled until a final non-appealable judgment or award, as the case may be, is entered with respect to such Action or Proceeding.

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  • If Licensor fails to cure a Licensor Event of Default specified in (a) above that is curable within thirty days from receipt of written notice from Licensee of such default or upon a Licensor Event of Default under (a) above that is not curable or under (b) above, Licensee shall have the right to terminate this Agreement with respect to such license.

  • In the event Licensor shall neglect to keep or perform in any material respect any covenant, agreement, or condition of this License, including but not limited to the provisions pertaining to Licensor's Work, compliance with all Applicable Laws, rules and regulations and the maintenance and repair of the 17th Street Building, and such failure shall continue for the cure period set forth below in this Section 17( c), such failure to perform shall constitute a "Licensor Event of Default".

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  • Event of Default means either Licensee Event of Default or Licensor Event of Default or both as the context may admit or require.

  • Event of Default means the Licensee Event of Default or the Licensor Event of Default or both as the context may admit or require.

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  • Upon Termination of this Agreement on account of Licensor Event of Default, the Licensee shall be entitled to receive from the Licensor, termination payment equal to 100% of the Book Value of the capital expenditure incurred by the Licensee towards the Project Asset / Project Facilities as on Termination Date.

  • Provided that in case of termination due to a Licensor Event of Default, the Licensor shall pay to the Licensee the Final Compensation Paya ble within 180 days of the date of transfer of the Leased Premises to the Licensor.


More Definitions of Licensor Event of Default

Licensor Event of Default means the occurrence of any of the following: (A) Licensor fails to timely perform or breaches any of its material obligations hereunder or (B) upon (i) Licensor becoming unable to pay its debts; (ii) a petition being presented or a meeting being convened for the purpose of considering a resolution for the making of an administration order, the winding-up, bankruptcy or dissolution of Licensor; (iii) Licensor becoming insolvent; (iv) a petition under any bankruptcy or analogous act being filed by or against Licensor (which petition, if filed against Licensor, shall not have been dismissed by the relevant authority within thirty (30) days thereafter); (v) Licensor executing an assignment for the benefit of creditors; (vi) a receiver being appointed for the assets of Licensor; (vii) Licensor taking advantage of any applicable bankruptcy, insolvency or reorganization or any other like statute; or (viii) the occurrence of any event analogous to the foregoing. As used herein, “Licensor Termination Event” means (I) the occurrence of a curable Licensor Event of Default described in subclause (A) above that Licensor has failed to cure within thirty (30) days written notice from Licensee of the occurrence of such default, or (II) the occurrence of a non-curable Licensor Event of Default described in subclause (A) above or (III) the occurrence of a Licensee Event of Default described in subclause (B) above. Notwithstanding anything to the contrary contained in Sections 17.1 or 17.2 hereof, no termination of this Agreement for any reason shall relieve or discharge, or be deemed or construed as relieving or discharging, any party hereto from any duty, obligation or liability hereunder which was accrued as of the date of such termination (including, without limitation, the obligation to pay any amounts payable hereunder accrued as of such date of termination).
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Licensor Event of Default shall have the meaning specified in Section 15(C).
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Licensor Event of Default shall have the meaning set forth in Section 31.1(b). “Licensor Indemnified Persons” shall mean Licensor and its Related Parties. “Licensor Regulations” shall have the meaning set forth in Article 24.
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Licensor Event of Default shall have the meaning ascribed to the term in Section 11.1 hereof;
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Related to Licensor Event of Default

  • 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).

  • Owner Event of Default shall have the meaning set forth in Section 18.3.

  • Event of Default has the meaning specified in Section 8.01.

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

  • Material Event of Default means the occurrence of an Event of Default (as defined in the Senior Unsecured Loan Agreement) under any of the following sections of the Senior Unsecured Loan Agreement:

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

  • Senior Event of Default means an Event of Default under the Senior Loan Documents.

  • 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.

  • Issuer Event of Default means the occurrence of any of the following events:

  • Loan Event of Default means any of the events specified in Section 5.1 of the Loan Agreement, provided that any requirement for the giving of notice, the lapse of time, or both, or any other condition, event or act has been satisfied.

  • 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.

  • Specified Event of Default means an Event of Default under Section 7.01(a), (b), (h) or (i).

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

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

  • Potential Issuer Event of Default means any condition, event or act which, with the lapse of time and/or the issue, making or giving of any notice, certification, declaration, demand, determination and/or request and/or the taking of any similar action and/or the fulfilment of any similar condition, would constitute an Issuer Event of Default;

  • 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)).

  • 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).

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Servicer Event of Default One or more of the events described in Section 7.01.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

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

  • Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

  • Unmatured Event of Default means any event which, with the giving of notice, the passage of time or both, would constitute an Event of Default.

  • Financial Covenant Event of Default has the meaning specified in Section 8.01(b).