Material Provision definition

Material Provision any provision of this Agreement or of any of the Transaction Documents (including, without limitation, payment provisions but excluding, in and of itself, any Bankruptcy Proceeding) the breach of which by one party is determined by an arbitration pursuant to Section 19.14 to constitute a material adverse effect on the use and enjoyment by the other party of the benefits of such agreement.

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Material Provision means (a) with respect to this Agreement, or the Notes, any material term, covenant, or agreement set forth therein, and (b) with respect to any other Financing Document, any provision if the validity and enforceability thereof is necessary for such Financing Document to accomplish its stated, or clearly intended, purpose or otherwise necessary in order for any Lender to enforce any material right or remedy under any Financing Document.

Material Provision means any provider contract provision, any policy manual, coverage guideline,

Examples of Material Provision in a sentence

• A party may deliver to the other party a written "Notice of Default" for: (i) failing to make any payment owed hereunder, when no bona fide dispute exists (a "Monetary Default"); or (ii) the breaching by either party or its agents, assigns or affiliates of any Material Provision; or (iii) the filing or initiating of proceedings by or against a party seeking liquidation, reorganization or other such relief under any federal or state bankruptcy or insolvency law (a "Bankruptcy Proceeding").

• Notwithstanding the foregoing, however, PSINet shall have no rights under this Section 7.4(b) by reason of an IXC Bankruptcy Proceeding if IXC is not also at such time in breach of a Material Provision.

• Prior to the execution and delivery of such documents by the Company, this Agreement shall be deemed to contain each more favorable Material Provision for purposes of determining the rights and obligations hereunder.

• FAILURE TO CURE SUCH BREACH WILL HAVE SIGNIFICANT LEGAL CONSEQUENCES." A party that has received a Notice of Default shall have five (5) business days to cure a Monetary Default, thirty (30) days to cure the alleged breach of any other Material Provision (other than Section 15.8(a) or the Standstill Agreement, which shall be required to be cured upon demand by PSINet, provided, however, that IXC Communications, Inc.

• Any Material Provision of any of the Financing Documents after delivery thereof shall for any reason, except to the extent permitted by the terms thereof, cease to be in full force and effect and valid, binding and enforceable (except as enforceability may be limited as stated in Section 4.3) in accordance with its terms, or the Company or any of its Subsidiaries shall so state in writing.

More Definitions of Material Provision

Material Provision means any provision of this Agreement (including, without limitation, payment provisions) the breach of which by one party is determined by a judicial proceeding or pursuant to the Section entitled Arbitration to constitute a material adverse effect on the use and enjoyment by the other party of the benefits of this Agreement.

Material Provision means (a) with respect to this Agreement, the Notes, or any Guaranty Agreement, any material term, covenant, or agreement set forth therein, and (b) with respect to any other Financing Document, any provision if the validity and enforceability thereof is necessary for such Financing Document to accomplish its stated, or clearly intended, purpose or otherwise necessary in order for any Lender to enforce any material right or remedy under any Financing Document; or

Material Provision means each of Sections 7, 9.7, 9.8, 9.9, 9.12, 9.13, 9,14, 9.16, 9.17, 9.18, 9.19, 9.20, 9.22, 9.31, 9.32 and 9.33 and each Incorporated Provision.

Material Provision shall have the meaning provided in Section 8.11.

Material Provision a term in this franchise agreement, as further described herein, deemed critical to the balance of the overall agreement between the Municipality and the Franchisee embodied in this franchise, wherein violation of said clause by the Franchisee, without redress, or the effective elimination of said clause from this franchise by an act of Congress or judicial decision may result or require, with the approval of the PSC, in the revocation or renegotiation of this franchise, in whole or in part.

Material Provision shall have the meaning specified in paragraph 5J.

Material Provision means any provision of this Agreement or any other Related Document relating to (a) the ability or the obligation of the County to pay, when due, the Payments and other Required Payments or (b) the pledge and valid first Lien in favor of the Lender in the Sales Tax Revenues securing the Required Payments.