Examples of SPD Default in a sentence
Upon occurrence of a SPD Default or failure to meet any Conditions Precedent, Railways shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages for such SPD Default or failure to meet any Condition Precedent.
Upon replenishment or furnishing of a fresh Performance Security, as the case may be, as aforesaid, the SPD shall be entitled to an additional Cure Period of 90 (ninety) days for remedying the SPD Default or to meet any Condition Precedent, and in the event of the SPD not curing its default or meeting such Condition Precedent within such Cure Period, Railways shall be entitled to encash and appropriate such Performance Security as Damages, and to terminate this Agreement in accordance with Article 28.
Upon the occurrence and continuation of SPD Default and the failure by the SPD to cure such default within the applicable cure period specified in this Article, the Lender, upon receipt of a written advice from the Buying Entity confirming such failure, shall be entitled to notify the Parties of the intention of the Lender to substitute the SPD by the Selectee for the residual period of this Agreement (the “Substitution Notice”).
The following events shall be defaults with respect to the SPD (each, a "SPD Default").
If the SPD Default is not cured within a period of sixty (60) days of the issue of Buying Entity Preliminary Default Notice or any other such period mutually agreed upon by the Parties, the Buying Entity shall have the right to terminate this Agreement by issuing a Buying Entity Termination Notice.
For the avoidance of doubt, the SPD hereby acknowledges that no Termination Payment shall be due or payable on account of an SPD Default occurring prior to COD and the SPD will take over the project assets on as is where is basis and restore the Railway premises and return CFA paid .
However, what has been found in this study of AAK, that contrasts the mentorship dimension in the preliminary framework, is the importance of fit between the mentor and the talent.
Save as otherwise provided in clause 2.6, upon occurrence of a SPD’s Default or failure to meet the Conditions Precedent by the SPD, ESCOM shall, without prejudice to its other rights and remedies hereunder or in law, be entitled to encash and appropriate the relevant amounts from the Performance Security as Damages for such SPD Default or Conditions Precedent.