Common use of Authority Default Clause in Contracts

Authority Default. 12.6.1 The following events shall be an Authority Default: 12.6.1.1 not funding or reimbursing Allowable Costs or Trading Costs (except to the extent that such Costs are treated as Disallowable Costs in accordance with this Contract); or 12.6.1.2 failing to make any undisputed payment of Incentive Fee to the Contractor in accordance with Clauses 6.11.3 and 6A.11.5 (Performance Based Incentive Arrangements), 12.6.1.3 in each case within thirty (30) Calendar Days of such sum(s) being due and payable; and 12.6.1.4 a material breach by the Authority of its obligations under this Contract which materially and substantially prevents the performance of the Contractor’s obligations under this Contract.

Authority Default. 12.6.1 The following events shall be an Authority Default: the Authority: 12.6.1.1 not funding or reimbursing Allowable Costs or Trading Costs (except to the extent that such Costs are treated as Disallowable Costs in accordance with this Contract); or 12.6.1.2 failing to make any undisputed payment of Final Incentive Fee to the Contractor in accordance with Clauses 6.11.3 and 6A.11.5 Clause 6.11.5 (Performance Based Incentive Arrangements), 12.6.1.3 in each case within thirty (30) Calendar Days of such sum(s) being due and payable; and 12.6.1.4 a material breach by the Authority of its obligations under this Contract which materially and substantially prevents the performance of the Contractor’s obligations under this Contract.