Defaulting Participant. In the event that the Project Committee identifies a breach by a Participant of its obligations under this Consortium Agreement or the PPP Allowance Agreement (e.g. improper implementation of the project), the Project Coordinator or, if the Project Coordinator is in breach of its obligations, the Participant appointed by the Project Committee, will give written notice to such Participant requiring that such breach will be remedied within 30 (thirty) calendar days from the date of receipt of the written notice by the Participant. If such breach is substantial and is not remedied within that period or is not capable of remedy, the Project Committee may decide to declare the Participant to be a Defaulting Participant and may terminate its participation in accordance with Section 3.4.2, unless such termination is not in reasonable proportion to the consequences for the Project. The Project Committee is further entitled to declare a Participant a Defaulting Participant in the event that the Stichting LSH-TKI has terminated that Participant’s participation in accordance with Section 9.2 of the PPP Allowance Agreement.
Defaulting Participant. For the purposes of clause 27.1(b), a Participant is only deemed to be a Defaulting Participant for the purposes of this clause 27 where:
Defaulting Participant. In the event that the Steering Committee identifies a breach by a Participant of its obligations under this Consortium Umbrella Agreement or the Consortium Project Agreement (e.g. improper implementation of the program), the Program Coordinator or, if the Program Coordinator is in breach of its obligations, the Participant appointed by the Steering Committee, will give written notice to such Participant requiring that such breach will be remedied within 30 (thirty) calendar days from the date of receipt of the written notice by the Participant. If such breach is substantial and is not remedied within that period or is not capable of remedy, the Steering Committee may decide to declare the Participant to be a Defaulting Participant and may terminate its participation in accordance with Section 3.4.2, unless such termination is not in reasonable proportion to the consequences for the Program.
Defaulting Participant. Access Rights granted to a Defaulting Participant and such Participant's right to request Access Rights shall cease immediately upon receipt by the Defaulting Participant of the formal notice of the decision of the General Assembly to terminate its participation in the consortium.
Defaulting Participant. If a Participant becomes a Defaulting Participant the saleable Product to which it is entitled under the Joint Venture Agreement will, while it remains a Defaulting Participant, vest in the Operator upon trust for sale and any excess of proceeds and any unsold saleable Product will be paid and delivered to the Defaulting Participant when its default has been remedied and the Operator's costs of sale have been deducted.
Defaulting Participant. In the event that the Project Committee identifies a breach by a Participant of its obligations under this Consortium Agreement or (one of the) National Funding Agreements (e.g. improper implementation of the project), the Project Coordinator or, if the Project Coordinator is in breach of its obligations, the Participant appointed by the Project Committee, will give written notice to such Participant requiring that such breach will be remedied within 30 (thirty) calendar days from the date of receipt of the written notice by the Participant. If such breach is substantial and is not remedied within that period or is not capable of remedy, the Project Committee may decide to declare the Participant to be a Defaulting Participant and may terminate its participation in accordance with Section 3.4.2, unless such termination is not in reasonable proportion to the consequences for the Project. The Project Committee is further entitled to declare a Participant a Defaulting Party in the event that (one of) the National Funding Bodies has terminated that Participant’s participation in accordance with their National Funding Agreement(s).
Defaulting Participant. In the event that the Project Committee identifies a breach by a Participant of its obligations under this Consortium Agreement or the Grant Decision (e.g. improper implementation of the project), the Project Coordinator or, if the Project Coordinator is in breach of its obligations, the Participant appointed by the Project Committee, will give written notice to such Participant requiring that such breach will be remedied within 30 (thirty) calendar days from the date of receipt of the written notice by the Participant. If such breach is substantial and is not remedied within that period or is not capable of remedy, the Project Committee may decide to declare the Participant to be a Defaulting Participant and may terminate its participation in accordance with Section 3.4.2, unless such termination is not in reasonable proportion to the consequences for the Project. The Project Committee is further entitled to declare a Participant a Defaulting Participant in the event that KWF has terminated that Participant’s participation in accordance with Section 10.2 of the PPP Allowance Terms and Conditions.
Defaulting Participant. In case Owner Participant ---------------------- shall fail to make any amount of its Commitment available on the Commencement Date (a "Defaulting Participant"), no Loan Participant shall have any obligation ---------------------- to make any amount of its Commitment available on such date or to increase any amount of its Commitment. If, for any reason, any one or more of the Loan Participants shall fail to pay all or any portion of its Commitment on the Commencement Date (a "Defaulting Participant"), Chemical Bank shall increase the ---------------------- amount of its Commitment by the amount which such Defaulting Participant failed to pay (without prejudice to any rights Chemical Bank may have against such Defaulting Participant). If, for any reason, Chemical Bank shall fail to pay (or cause to be paid) the aggregate Commitments of the Loan Participants (a "Defaulting Participant"), the transactions contemplated hereby shall not be ----------------------- consummated (without prejudice to any rights Owner Participant and Lessee may have against such Defaulting Participant or Participants).
Defaulting Participant. 23.2.1. shall keep the Pool Vessels for which it is the Responsible Participant entered in the Pool on the terms of this Agreement and the relevant Participating Charter, and shall continue to perform this Agreement in relation to such Pool Vessels for as long as the Pool Manager determines (in the case of each Pool Vessel) is necessary or desirable to fulfil existing commitments;
Defaulting Participant. Defaulting Participant" means any Approved Participant that shall have breached the Participation Agreement by failing to provide a Funding Advance to Landlord for (or equal to) such Participant's percentage of any Construction Advance requested by Tenant. (For purposes of this Lease a "Participant's percentage" shall mean the percentage that, under the Participation Agreement, is to be multiplied against Construction Advances to compute the amount the Participant must advance to Landlord for (or equal to) a percentage of Construction Advances requested hereunder.) (ai)
