Common use of Company Default Clause in Contracts

Company Default. The occurrence and continuation of any of the following events, unless any such event occurs as a result of Force Majeure event or a breach by the HPSEBL of its obligations under the Agreement, shall constitute a "Company Event of Default”. (a) breach of Implementation Agreement by the Company; (b) if the Project is designed, constructed or completed:- i) in a manner that materially deviates from the provisions of the Approved DPR of the Project; or ii) in violation of any applicable Law of India; or iii) in a manner which deviates materially from Prudent Utility Practices;

Company Default. The occurrence and continuation of any of the following events, unless any such event occurs as a result of Force Majeure event Event or a breach by the HPSEBL of its obligations under the Agreement, shall constitute a "Company Event of Default”. (a) breach of Implementation Agreement by the Company; (b) if the Project is designed, constructed or completed:- i) in a manner that materially deviates from the provisions of the Approved DPR of 'Techno- Economic Clearance' accorded by the ProjectHPSEBL; or ii) in violation of any applicable Law of India; or iii) in a manner which deviates materially from Prudent Utility Practices;