Sponsor Event of Default definition

Sponsor Event of Default means one or more of the following shall have occurred and is continuing with respect to the Sponsor:

Sponsor Event of Default means any “Guarantor Event of Default” as defined in the Sponsor Guaranty.

Sponsor Event of Default. Has the meaning given thereto in Section 7.1. “Tax” – Has the meaning given thereto in the Concession Agreement.

Examples of Sponsor Event of Default in a sentence

• In the event that a court renders a final, non-appealable judgment finding that Developer appropriately terminated the Project Agreement for Sponsor Event of Default, Sponsor shall be responsible for making an Alternate Economic Investment in accordance with Section 5.02(f).

• If Sponsor does not contest termination of the Project Agreement and elects not to cure Sponsor Event of Default, Sponsor shall offer to assign the Project Agreement to NYSERDA to allow it to cure Sponsor Event of Default.

• Notwithstanding the provisions of Section 9.2 and this Section 9.3, if the Bank requires Member to recover the Direct Subsidy from Project Sponsor upon the occurrence of a Project Sponsor Event of Default, if a Member Event of Default has not occurred and is not continuing, Member shall not be liable to the Bank for the return of amounts of the Direct Subsidy that cannot be recovered from Project Sponsor through reasonable collection efforts undertaken by Member as determined by the Bank.

• Upon the occurrence of a Sponsor Event of Default under the Project Agreement and receipt of notice by Sponsor of Developers’ intent to terminate the Project Agreement, Sponsor shall provide NYSERDA with written notice of: (i) Developers’ intent to terminate the Project Agreement; (ii) whether Sponsor contests termination of the Project Agreement; and (iii) whether Sponsor intends to cure such Sponsor Event of Default.

• Sponsor’s Payment of Sponsor’s Capital Contribution towards completion of the POA Facilities or towards an Alternate Economic Investment shall represent NYSERDA’s sole and exclusive remedy against Sponsor and its affiliates for failure to complete the Port Improvements, whether due to a Sponsor Event of Default, Developer Event of Default, or other cause.

More Definitions of Sponsor Event of Default

Sponsor Event of Default has the meaning ascribed to it in Section 10.3. “Sponsor Statement” has the meaning ascribed to it in Section 12.2(g).

Sponsor Event of Default has the meaning ascribed to it in Section 10.3.

Sponsor Event of Default. Has the meaning given thereto in Section 7.1. “Term” – Has the meaning given thereto in Section 2.1.

Sponsor Event of Default means any of the events specified in Section 8; provided that any requirement for passage of time, giving of notice or any other condition has been satisfied.

Sponsor Event of Default means the occurrence of any of the following: (a) any of the types of events described in Section 9.01(f) and (g) of the Financing Agreement with respect to Sponsor Guarantor, (b) any representation, warranty or statement made or deemed to be made by Sponsor Guarantor herein or in any statement or certificate delivered or required to be delivered pursuant hereto or thereto shall prove untrue in any material respect on the date as of which it was deemed to have been made, (c) Sponsor Guarantor shall default in the payment when due of any amounts payable by Sponsor Guarantor pursuant to this Guaranty, (d) this Guaranty or any provision hereof shall cease to be in full force and effect with respect to Sponsor Guarantor for reason other than pursuant to the occurrence of the Termination Date in accordance with this Guaranty, or Sponsor Guarantor or any Person acting by or on behalf of Sponsor Guarantor shall deny or disaffirm Sponsor Guarantor’s obligations under this Guaranty (it being understood and agreed that a bona fide dispute in good faith by Sponsor Guarantor in connection with this Guaranty shall not constitute denying or disaffirming Sponsor Guarantor’s obligations hereunder), and (e) Sponsor Guarantor shall default the due performance or observance of any term covenant or agreement: (i) contained in Section 7(a)(i) or 7(h) of this Guaranty or (ii) contained in any other Section of this Guaranty (other than those Sections specifically referred to in clause (i) above) and such default shall continue unremedied for a period of thirty (30) days after the earlier of (1) receipt by Sponsor Guarantor of written notice from the Collateral Agent of such default or (2) actual knowledge of any senior officer of Sponsor Guarantor of such default.

Sponsor Event of Default has the meaning assigned to that term in Section 6.1.

Sponsor Event of Default means any Event of Default under Section 10.01(p).