Operator Event of Default definition

Operator Event of Default has the meaning given in Clause 16.2.1. “Operator Invoice” has the meaning given in Clause 11.1.1. “Operator Liability Cap” has the meaning given in Clause 12.2.1.

Operator Event of Default means any of the following events arising out of any acts or omissions of the Operator and which have not occurred as a direct consequence of any Authority Event of Default, a Qualifying Change in Law, a Fundamental Change in Law or a Force Majeure Event and (unless otherwise provided for in this Agreement) where the Operator has failed to remedy the defects specified in the Remedial Action Notice issued in accordance with Article 16.1.1:

Operator Event of Default means any or all of the events that are listed at Article 15.1. "Operator’s Notice" has the meaning given to it in Article 7.8.3.1.

Examples of Operator Event of Default in a sentence

• Each Party acknowledges and agrees that the User Events of Default and the Operator Events of Default do not unreasonably disadvantage either Party, and each Party irrevocably waives any right to bring a claim against the other Party to contest the effectiveness of any User Event of Default and the Operator Event of Default.

• The Operator Liability Cap shall operate as the total aggregate liability cap of the Operator, including in the case of termination of this Agreement upon the occurrence of an Operator Event of Default.

• Upon the occurrence of an Operator Event of Default or a User Event of Default, as the case may be, the non-defaulting Party may, at its option, deliver a termination notice to the other Party.

• The termination notice shall specify in reasonable detail the Operator Event of Default or User Event of Default, as the case may be, giving rise to the termination notice.

More Definitions of Operator Event of Default

Operator Event of Default shall have the meaning as set forth in Article 17.1.1;

Operator Event of Default has the meaning specified in Section 16.1.

Operator Event of Default means any or all of the events that are listed at Article 15.1.

Operator Event of Default has the meaning given to that term in Section 10.1.

Operator Event of Default shall have the meaning set forth in Section 7.2.1.

Operator Event of Default means (a) a default or event of default by Petrodome Energy, LLC under any document evidencing Indebtedness, (b) Petrodome Energy, LLC shall (i) apply for or consent to the appointment of a receiver, trustee or liquidator of it or all or a substantial part of its assets, (ii) file a voluntary petition commencing an Insolvency Proceeding, (iii) make a general assignment for the benefit of creditors of all or substantially all of its assets, (iv) be unable, or admit in writing its inability, to pay its debts generally as they become due or (v) file an answer admitting the material allegations of a petition filed against it in any Insolvency Proceeding, or (c) Viking shall cease to own 100% of the Equity Interests in Petrodome Energy, LLC.

Operator Event of Default means the occurrence of any "Event of Default" under the Operating Agreements (including without limitation, any Operator Performance Default), as well as the occurrence of a default (other than a default of Lessor or Lessee) under any of the Operative Documents (beyond any applicable cure periods).