Default Defined. The term "Default" shall mean, whenever it is used in this Agreement (a) any failure by the Grantee to substantially observe or perform any material covenant, condition, obligation or agreement on its part to be observed or performed hereunder or (b) any material breach of any representation set forth herein.
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Sources: Grant Agreement, Grant Agreement, Grant Agreement
Default Defined. The term "Default" shall mean, whenever it is used in this Agreement (a) any failure by the Grantee either party to substantially observe or perform any material covenant, condition, obligation or agreement on its part to be observed or performed hereunder or (b) any material breach of any representation set forth herein.
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