Defaults by Seller. If there is any default by Seller under this Agreement, following notice to Seller and seven (7) days, during which period Seller may cure the default, Buyer may, at its option, (a) declare this Agreement terminated in which case the Deposit shall be returned to Buyer or (b) treat this Agreement as being in full force and effect and bring an action against Seller for specific performance.
Defaults by Seller. (a) Seller fails to post or maintain the Project Development Security, Levelized Security or Default Security as required under, and by the applicable dates set forth in, Section 2 and Section 8, and such failure continues for fifteen (15) days after Seller’s receipt of written notice thereof from PacifiCorp.
Defaults by Seller. This Section 14.1 shall not apply to breaches of representations and warranties, which shall be governed by Section 8.2.2. above. If there is any default by Seller under this Agreement, following notice to Seller and seven (7) days, during which period Seller may cure the default, Buyer may, as it sole option, elect to either (i) declare this Agreement terminated by giving written notice of termination to Seller and the Title Company, whereupon the Title Company shall promptly refund the Deposit to Buyer, all other escrow documents and funds shall be returned by the Title Company and/or by Seller’s counsel, as applicable, to the party which delivered them into Escrow, the Equity Escrow Holder shall return the Escrowed Equity to Buyer, and Seller shall reimburse Buyer for its actual verified out-of-pocket expenses in conducting its investigations of the Property, negotiating and finalizing this Agreement, and preparing for Closing, plus any non-refundable Loan Assumption Related Fees, up to a maximum aggregate amount of $100,000 and thereafter neither party shall have any further rights or obligations hereunder except for the Surviving Obligations; or (ii) treat this Agreement as being in full force and effect and bring an action against Seller for specific performance.
Defaults by Seller. If there is any default by Seller under this Agreement, following notice to Seller and seven (7) days thereafter during which period Seller may cure the default, Buyer may at its option, either (a) declare this Agreement terminated in which case the Deposit shall be returned to Buyer without any further action required from either party, and bring an action for any damages incurred by Buyer or (b) treat the Agreement as being in full force and effect and bring an action against Seller for specific performance. The foregoing notwithstanding, no right to cure shall extend the Close of Escrow.
Defaults by Seller. 4. If SELLER wilfully defaults hereunder, PURCHASER shall have such remedies as PURCHASER is entitled to at law or in equity, including, but not limited to, specific performance.
Defaults by Seller. (a) Seller fails to deliver, increase or maintain Security as required by Section 8, and such default is not cured within ten (10) days after PacifiCorp gives notice to Seller of such default.
Defaults by Seller. Seller fails to post, increase, or maintain the Project Development Security or Default Security as required under, and by the applicable dates set forth in, Section 2 and Section 8 and such failure is not cured within ten (10) Business Days after PacifiCorp gives Seller notice of default. Seller fails to (i) cause the Facility to achieve Commercial Operation on or before the Guaranteed Commercial Operation Date, or (ii) complete all items included on the Final Completion Schedule within ninety (90) days after the Commercial Operation Date. Seller sells Output, Green Tags or Capacity Rights from the Facility to a party other than PacifiCorp in breach of Section 4.2, or Seller makes a public statement or otherwise takes an action that any Governmental Authority or the Center for Resource Solutions determines is a retirement, double counting, double sale, double use or double claim of Green Tags, if Seller does not permanently cease such sale and compensate PacifiCorp for the damages arising from the breach within ten (10) days after PacifiCorp gives Seller a notice of default.
Defaults by Seller. (a) Seller fails to deliver, increase or maintain Security as required by Section 8, and such non-performance is not cured within ten (10) Business Days after PacifiCorp gives notice to Seller of such non-performance.
Defaults by Seller. (a) Seller’s failure to post, increase, maintain or replenish the Project Development Security or Default Security by the applicable dates set forth in Sections 2.3, 7.1, or 7.2.
Defaults by Seller. This Section 14.1 shall not apply to breaches of representations and warranties, which shall be governed by Section 8.2.2. above. If there is any default by Seller under this Agreement, and such default is continuing following notice to Seller and the passage of seven (7) days immediately thereafter, during which period Seller may cure the default (in which event the date of Closing may be extended accordingly as is reasonably necessary for Seller to cure such default within such time period, but in no event shall such Closing Date be extended beyond such 7 day period or if applicable, for any period of time which would cause Lender to withdraw its consent to the sale of the Property or fail to close the Assumption), Buyer may, as it sole option, elect to either (i) declare this Agreement terminated in which case the Deposit shall be returned to Buyer and Buyer shall return the Due Diligence Items to Seller; or (ii) treat this Agreement as being in full force and effect and bring an action against Seller for specific performance; provided, however, if Buyer does not prevail in its action for specific performance of this Agreement due to reconveyance by Seller of the Property to an unrelated third party, in violation of this Agreement and Buyer’s rights hereunder, then the Deposit shall be paid to Buyer, and Buyer shall in such event additionally have the right to seek damages incurred by Buyer in connection with this Agreement or the Property not to exceed $1,250,000.00 as a result of Seller’s conveyance of the Property in violation of this Agreement. Notwithstanding anything herein to the contrary, Buyer shall be deemed to have elected to terminate this Agreement if Buyer fails to deliver to Seller written notice of its intent to file a claim or assert a cause of action for specific performance against the Seller in a mediation or litigation proceeding pursuant to Section 14.3 below, on or before ten (10) days following the Closing Date or having given such notice fails to commence such mediation or litigation pursuant to Section 14.3 below asserting said claim or cause of action within thirty (30) days following the Closing Date.
