Owner Default definition

Owner Default has the meaning set forth in Section 16.5.

Owner Default shall have the meaning set forth in Section 9.1. “Party” shall mean each of Utility and Owner.

Owner Default has the meaning provided in Section 14.3.

Examples of Owner Default in a sentence

• The Parties acknowledge and agree that Owner shall not be in breach of, or be liable to Distribution Company under, this Agreement, and no Owner Default shall occur, as a consequence of Owner’s compliance with such instructions of Transmission Operator; provided that Owner did not initiate or support instructions that would otherwise breach Owner’s obligations under this Agreement.

• Any Dispute over whether or not an Owner Default or Distribution Company Default has occurred shall be resolved in accordance with Article XVII.

• In the event Owner is not providing Firm Transmission Service in full at the end of such period of forbearance, or if Owner fails to exercise diligent, commercially reasonable efforts consistent with Good Utility Practice to timely effectuate such plan, an Owner Default shall be deemed to have occurred and Distribution Company shall have the rights and remedies set forth in Section 14.4, which, for the avoidance of doubt, shall include recourse against any Credit Support posted by Owner.

• Owner shall have thirty (30) days from the date of such notice to either cure such Owner Default, or, if such Owner Default cannot be reasonably cured during such thirty (30) day period, to commence to cure within said thirty (30) day period and diligently prosecute such cure to completion thereafter.

• In addition to the right to terminate this Agreement, upon the occurrence of any Owner Default (after any applicable notice and cure periods), Developer may, at any time while such Owner Default continues, exercise any other remedies that may be provided at law or in equity.

More Definitions of Owner Default

Owner Default has the meaning provided in Section 14.2. “Owner Delay” has the meaning provided in Section 4.4.1. “Owner Security” has the meaning provided in Section 16.1.

Owner Default has the meaning set forth in Section 12.2.

Owner Default shall have the meaning set forth in Section 15.4.1.

Owner Default is defined in Section 11.2.

Owner Default shall occur if the Owner shall default in performing any duty or obligation to be performed by the Owner under this Agreement and such default shall not be remedied within (a) ten (10) calendar days after written notice of such default shall have been given by the Developer to the Owner describing the default in reasonable detail, or (b) in the case of any such default which is capable of being cured, but which cannot with due diligence and in good faith be cured within ten (10) calendar days, within such additional period as may be reasonably required to cure such default with due diligence and in good faith, but not in excess of sixty (60) calendar days from the date of such notice provided that the Owner has commenced the cure at the beginning of the ten (10) calendar day cure period.

Owner Default shall have the meaning ascribed to it in Section 17.02 of this Agreement.

Owner Default. As defined in Section 13.03.