Common use of BREACH; TERMINATION Clause in Contracts

BREACH; TERMINATION. Customer/Project Sponsor may terminate this Agreement at any time in its sole discretion by providing notice to the Company not less than one hundred and eighty (180) days before such termination. In the event of breach of any material terms or conditions of this Agreement, if the breach has not been remedied within thirty (30) days following receipt of written notice thereof from the other Party (provided that, if the breaching Party has commenced and is diligently pursuing efforts to cure such breach, then such 30-day period shall be extended until the earlier of (i) 30 additional days or (ii) end of diligent efforts to cure the breach), then the non-breaching party may terminate this Agreement by written notice at any time until cure of such breach occurs. In the event of any proceedings by or against any Party in bankruptcy, insolvency or for appointment of any receiver or trustee or any general assignment for the benefit of creditors (excluding, for the avoidance of doubt, an assignment in accordance with Article XII or other collateral assignment to obtain project financing), the other Party may terminate this Agreement. If the Customers/Project Sponsor increase the capability or the capacity of the Facility to exceed 4.999 MW, this Agreement shall immediately terminate. The Company/Project Sponsor shall not be liable to the Customer for damages resulting from a termination pursuant to this paragraph. If the Facility produces zero (0) kilowatt-hours during any period of twelve (12) consecutive Billing Periods after the Commercial Operation Date [Effective Date for existing resources] for a reason other than a force majeure event, the Company may also terminate this Agreement. The Company shall not be liable to the Customers for damages resulting from a termination pursuant to this paragraph.

Appears in 2 contracts

Samples: Agreement, Agreement

AutoNDA by SimpleDocs

BREACH; TERMINATION. Customer/Project Sponsor may terminate this Agreement at any time in its sole discretion by providing notice to the Company not less than one hundred and eighty (180) days before such termination. In the event of breach of any material terms or conditions of this Agreement, if the breach has not been remedied within thirty (30) 30 days following receipt of written notice thereof from the other Party (provided that, if the breaching Party has commenced and is diligently pursuing efforts to cure such breach, then such 30-day period shall be extended until the earlier of (i) 30 additional days or (ii) end of diligent efforts to cure the breach), then the non-breaching party may terminate this Agreement by written notice at any time until cure of such breach occurs. In the event of any proceedings by or against any either Party in bankruptcy, insolvency or for appointment of any receiver or trustee or any general assignment for the benefit of creditors (excluding, for the avoidance of doubt, an assignment in accordance with Article XII XI or other collateral assignment to obtain project financing), the other Party may terminate this Agreement. If the CustomersCustomer/Project Sponsor increase increases the capability or the capacity of the Facility to exceed 4.999 MW, this Agreement shall immediately terminate. The Company/Project Sponsor Company shall not be liable to the Customer Customer/Project Sponsor for damages resulting from a termination pursuant to this paragraph. If the Facility Customer/Project Sponsor's generating equipment produces zero (0) kilowatt-kilowatt- hours during any period of twelve (12) consecutive Billing Periods after the Commercial Operation Date [Effective Date for existing resources] for a reason other than a force majeure event, the Company may also terminate this Agreement. The Company shall not be liable to the Customers for damages resulting from a termination pursuant to this paragraph.

Appears in 2 contracts

Samples: www.versantpower.com, www.versantpower.com

BREACH; TERMINATION. Customer/Project Sponsor Customer may terminate this Agreement at any time in its sole discretion by providing notice to the Company not less than one hundred and eighty (180) days before such termination. In the event of breach of any material terms or conditions of this Agreement, if the breach has not been remedied within thirty (30) 30 days following receipt of written notice thereof from the other Party (provided that, if the breaching Party has commenced and is diligently pursuing efforts to cure such breach, then such 30-day period shall be extended until the earlier of (i) 30 additional days or (ii) end of diligent efforts to cure the breach), then the non-breaching party may terminate this Agreement by written notice at any time until cure of such breach occurs. In the event of any proceedings by or against any either Party in bankruptcy, insolvency or for appointment of any receiver or trustee or any general assignment for the benefit of creditors (excluding, for the avoidance of doubt, an assignment in accordance with Article XII X or other collateral assignment to obtain project financing), the other Party may terminate this Agreement. If the Customers/Project Sponsor increase Customer increases the capability or the capacity of the Facility to exceed 4.999 MW, this Agreement shall immediately terminate. The Company/Project Sponsor Company shall not be liable to the Customer for damages resulting from a termination pursuant to this paragraph. If the Facility Customer's generating equipment produces zero (0) kilowatt-hours during any period of twelve (12) consecutive Billing Periods after the Commercial Operation Date [Effective Date for existing resources] for a reason other than a force majeure eventDate, the Company may also terminate this Agreement. The Company shall not be liable to the Customers for damages resulting from a termination pursuant to this paragraph.

Appears in 2 contracts

Samples: www.versantpower.com, www.versantpower.com

BREACH; TERMINATION. β€Œ Customer/Project Sponsor may terminate this Agreement at any time in its sole discretion by providing notice to the Company not less than one hundred and eighty (180) days before such termination. In the event of breach of any material terms or conditions of this Agreement, if the breach has not been remedied within thirty (30) 30 days following receipt of written notice thereof from the other Party (provided that, if the breaching Party has commenced and is diligently pursuing efforts to cure such breach, then such 30-day period shall be extended until the earlier of (i) 30 additional days or (ii) end of diligent efforts to cure the breach), then the non-breaching party may terminate this Agreement by written notice at any time until cure of such breach occurs. In the event of any proceedings by or against any either Party in bankruptcy, insolvency or for appointment of any receiver or trustee or any general assignment for the benefit of creditors (excluding, for the avoidance of doubt, an assignment in accordance with Article XII XI or other collateral assignment to obtain project financing), the other Party may terminate this Agreement. If the CustomersCustomer/Project Sponsor increase increases the capability or the capacity of the Facility to exceed 4.999 MW, this Agreement shall immediately terminate. The Company/Project Sponsor Company shall not be liable to the Customer Customer/Project Sponsor for damages resulting from a termination pursuant to this paragraph. If the Facility Customer/Project Sponsor's generating equipment produces zero (0) kilowatt-kilowatt- hours during any period of twelve (12) consecutive Billing Periods after the Commercial Operation Date [Effective Date for existing resources] for a reason other than a force majeure event, the Company may also terminate this Agreement. The Company shall not be liable to the Customers for damages resulting from a termination pursuant to this paragraph.

Appears in 2 contracts

Samples: Versant Power And, www.versantpower.com

BREACH; TERMINATION. Customer/Project Sponsor may terminate this Agreement at any time in its sole discretion by providing notice to the Company not less than one hundred and eighty (180) days before such termination. In the event of breach of any material terms or conditions of this Agreement, if the breach has not been remedied within thirty (30) 30 days following receipt of written notice thereof from the other Party (provided that, if the breaching Party has commenced and is diligently pursuing efforts to cure such breach, then such 30-day period shall be extended until the earlier of (i) 30 additional days or (ii) end of diligent efforts to cure the breach), then the non-breaching party may terminate this Agreement by written notice at any time until cure of such breach occurs. In the event of any proceedings by or against any either Party in bankruptcy, insolvency or for appointment of any receiver or trustee or any general assignment for the benefit of creditors (excluding, for the avoidance of doubt, an assignment in accordance with Article XII XI or other collateral assignment to obtain project financing), the other Party may terminate this Agreement. If the CustomersCustomer/Project Sponsor increase increases the capability or the capacity of the Facility to exceed 4.999 MW, this Agreement shall immediately terminate. The Company/Project Sponsor Company shall not be liable to the Customer Customer/Project Sponsor for damages resulting from a termination pursuant to this paragraph. If the Facility Customer/Project Sponsor's generating equipment produces zero (0) kilowatt-hours during any period of twelve (12) consecutive Billing Periods after the Commercial Operation Date [Effective Date for existing resources] for a reason other than a force majeure event, the Company may also terminate this Agreement. The Company shall not be liable to the Customers for damages resulting from a termination pursuant to this paragraph.

Appears in 1 contract

Samples: www.versantpower.com

AutoNDA by SimpleDocs

BREACH; TERMINATION. β€Œ Customer/Project Sponsor may terminate this Agreement at any time in its sole discretion by providing notice to the Company not less than one hundred and eighty (180) days before such termination. In the event of breach of any material terms or conditions of this Agreement, if the breach has not been remedied within thirty (30) days following receipt of written notice thereof from the other Party (provided that, if the breaching Party has commenced and is diligently pursuing efforts to cure such breach, then such 30-day period shall be extended until the earlier of (i) 30 additional days or (ii) end of diligent efforts to cure the breach), then the non-breaching party may terminate this Agreement by written notice at any time until cure of such breach occurs. In the event of any proceedings by or against any Party in bankruptcy, insolvency or for appointment of any receiver or trustee or any general assignment for the benefit of creditors (excluding, for the avoidance of doubt, an assignment in accordance with Article XII XI or other collateral assignment to obtain project financing), the other Party may terminate this Agreement. If the CustomersCustomer/Project Sponsor increase the capability or the capacity of the Facility to exceed 4.999 MW, this Agreement shall immediately terminate. The Company/Project Sponsor Company shall not be liable to the Customer Customer/Project Sponsor for damages resulting from a termination pursuant to this paragraph. If the Facility produces zero (0) kilowatt-hours during any period of twelve (12) consecutive Billing Periods after the Commercial Operation Date [Effective Date for existing resources] for a reason other than a force majeure event, the Company may also terminate this Agreement. The Company shall not be liable to the Customers for damages resulting from a termination pursuant to this paragraph.

Appears in 1 contract

Samples: www.versantpower.com

BREACH; TERMINATION. Customer/Project Sponsor may terminate this Agreement at any time in its sole discretion by providing notice to the Company not less than one hundred and eighty (180) days before such termination. In the event of breach of any material terms or conditions of this Agreement, if the breach has not been remedied within thirty (30) days following receipt of written notice thereof from the other Party (provided that, if the breaching Party has commenced and is diligently pursuing efforts to cure such breach, then such 30-day period shall be extended until the earlier of (i) 30 additional days or (ii) end of diligent efforts to cure the breach), then the non-breaching party may terminate this Agreement by written notice at any time until cure of such breach occurs. In the event of any proceedings by or against any Party in bankruptcy, insolvency or for appointment of any receiver or trustee or any general assignment for the benefit of creditors (excluding, for the avoidance of doubt, an assignment in accordance with Article XII XI or other collateral assignment to obtain project financing), the other Party may terminate this Agreement. If the CustomersCustomer/Project Sponsor increase the capability or the capacity of the Facility to exceed 4.999 MW, this Agreement shall immediately terminate. The Company/Project Sponsor Company shall not be liable to the Customer Customer/Project Sponsor for damages resulting from a termination pursuant to this paragraph. If the Facility produces zero (0) kilowatt-hours during any period of twelve (12) consecutive Billing Periods after the Commercial Operation Date [Effective Date for existing resources] for a reason other than a force majeure event, the Company may also terminate this Agreement. The Company shall not be liable to the Customers for damages resulting from a termination pursuant to this paragraph.

Appears in 1 contract

Samples: www.versantpower.com

Time is Money Join Law Insider Premium to draft better contracts faster.