Step-In Rights definition

Step-In Rights means the step in rights, if any, referred to in the Key Provisions;

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Step-In Rights means the right of one party to assume an intervening position to satisfy all terms of an agreement in the event the other party fails to perform its obligations under the agreement.

Step-In Rights shall have the meaning set forth in Section 12.5.

Examples of Step-In Rights in a sentence

For greater certainty and without limiting the generality of the foregoing, nothing in this Agreement will limit, and the Authority will be entitled at all times in accordance with the provisions thereof to exercise the Authority’s rights under Section 11.1(a) (Authority’s Step-in Rights) of the Project Agreement and the related exercise of its rights under Section 11.2 (Authority’s Rectification Rights) of the Project Agreement.
On the occurrence of a Step-In Trigger Event, the Authority may serve notice on the Supplier (a “Step-In Notice”) that it will be taking action under this Clause 31 (Step-in Rights), either itself or with the assistance of a third party (provided that the Supplier may require any third parties to comply with a confidentiality undertaking equivalent to Clause 22 (Confidentiality)).
HUD will not, however, have any other Liability to the Provider as a result of its exercise of Step-in Rights and the Provider will not make any Claim against it.
HUD Step-in Rights HUD has Step-in Rights as set out in Schedule 3.
T E M P L A T E MSD is not obliged to exercise Step-in Rights if the Provider is in breach of a Contract Document or some other trigger event has occurred.

More Definitions of Step-In Rights

Step-In Rights. Has the meaning set out in paragraph 4.1.6.4.

Step-In Rights means PacifiCorp’s rights under Section 11.8.

Step-In Rights means the rights exercisable by the Operator pursuant to clause 12.

Step-In Rights is defined in Section 8.4.2.

Step-In Rights means the rights of the Debenture Trustee, without prejudice to any other rights or remedies available to the Debenture Trustee and the Debenture Holders under Applicable Law or under the Debenture Documents, and without being required to exercise or exhaust such rights or remedies, to enter upon and takeover the Project/Project sites and to take all such steps as are necessary for the continued operation and maintenance of the Project, including in relation to the debt servicing obligations of the Issuer in respect of its secured debt.

Step-In Rights means PacifiCorp’s rights under Section 11.9.

Step-In Rights has the meaning set forth in Section 13.04.