Breach of Material Agreements Sample Clauses
The Breach of Material Agreements clause defines the consequences and procedures that apply when a party fails to fulfill significant obligations under key contracts. Typically, this clause identifies what constitutes a material agreement and outlines the steps to be taken if a breach occurs, such as providing notice, allowing a cure period, or triggering remedies like termination or damages. Its core function is to protect parties by ensuring that serious contractual violations are addressed promptly and effectively, thereby allocating risk and maintaining the integrity of the contractual relationship.
Breach of Material Agreements. A material default of the obligations of any Loan Party or any Subsidiary thereof under any Material Business Agreement to which it is a party shall occur which default is not cured within any applicable cure period;
Breach of Material Agreements. Unless otherwise approved by the intercreditor agent, any person that is party to certain material agreements entered into in respect of the transactions contemplated by the Finance Documents shall breach or default under any material term, condition, provision or covenant contained in any such material agreement (other than any Acceptable Charter, Alternative Charter or any insurance policy entered into in accordance with the Project Facilities Agreement) or any such material agreement (other than any Acceptable Charter, Alternative Charter or any insurance policy entered into in accordance with the Project Facilities Agreement) shall have terminated (other than by expiry through the effluxion of time in accordance with its terms and on the date scheduled for such expiry), been revoked, been subject to assertion of invalidity or repudiation, or otherwise shall cease to be in full force and effect and such event:
(a) is not capable of being cured; or
(b) if capable of being cured, is not cured within the longer of (i) 14 days following the earlier of notice by the intercreditor agent to each Obligor or any Obligor becoming aware of such event or (ii) in respect of any breach or default, any applicable cure period under such material agreement (if any such cure period is provided for in such material agreement).
Breach of Material Agreements. Unless otherwise approved by the Intercreditor Agent, any Person that is party to any Material Agreement shall breach or default under any material term, condition, provision or covenant contained in any Material Agreement (other than any Acceptable Charter, Alternative Charter or any Insurance Policy) or any Material Agreement (other than any Acceptable Charter, Alternative Charter or any Insurance Policy) shall have terminated (other than by expiry through the effluxion of time in accordance with its terms and on the date scheduled for such expiry), been revoked, been subject to assertion of invalidity or repudiation, or otherwise shall cease to be in full force and effect and such event:
(a) is not capable of being cured; or
(b) if capable of being cured, is not cured within the longer of (i) 14 days following the earlier of notice by the Intercreditor Agent to each Obligor or any Obligor becoming aware of such event or (ii) in respect of any breach or default, any applicable cure period under such Material Agreement (if any such cure period is provided for in such Material Agreement).
Breach of Material Agreements. The Corporation’s material breach of its material post-closing obligations under Articles 2, 4 and 5 of that certain Governance Agreement between the Corporation and certain of its stockholders dated on or about , 200_, Articles II-A, II-B, II-C and VI of the Combination Agreement pursuant to which the Corporation acquired i-STT Pte Ltd and Pihana Pacific (“Combination Agreement”), Inc., Articles 5, 6 or 9 of that certain Securities Purchase Agreement between the Corporation and certain of its stockholders, dated October 2, 2002 (the “Securities Purchase Agreement”), or the material terms of the notes and warrants issued thereunder or the related Registration Rights Agreement and security documents), provided that if such breach is susceptible to cure, STT shall give notice of such breach to the Corporation and the Corporation shall have ten (10) business days in which to cure such breach;
Breach of Material Agreements. (a) A default of the obligations of any Loan Party under any other material agreement to which it is a party, including, without limitation, the TCS Supply Agreement, shall occur which adversely affects its condition, affairs; prospects (financial or otherwise) which default is not cured within any applicable cure period or (b) a default of any Loan Party giving rise to termination of the TCS Supply Agreement, or the termination (or giving notice of termination) by any Loan Party of the TCS Supply Agreement unless such termination is in connection with establishment of one or more replacement supply chains; provided that, such supply chain(s) shall be acceptable to the Agent in its sole but commercially reasonable discretion, or (c) when the Availability Block is not in place, any Loan Party or the Agent receives notice that Turf Care Supply Corp. intends to exercise any rights or remedies in connection with the TCS Supply Agreement, including, without limitation, its intention to accelerate the terms of payment pursuant to Section 6(d)(ii) of the TCS Supply Agreement;
Breach of Material Agreements. 73 10.13 Cross Default; Cross Acceleration................................73 10.14
Breach of Material Agreements. The Borrower shall default in the performance of, or compliance with, any material term contained in the Timok JV Agreement or the Freeport Purchase Documents.