Common use of Defaults Defined Clause in Contracts

Defaults Defined. The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following events: (a) Failure by the Company to pay any amount required to be paid under Section 4.02(a) or (d) hereof. (b) Failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section 8.01(a) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected. (c) The dissolution or liquidation of the Company, except as authorized by Section 2.02 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due. (d) The occurrence and continuance of a Default under the Indenture.

Defaults Defined. The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following events: (a) Failure by the Company or ITT Holdings LLC, as applicable, to pay any amount required to be paid under Section 4.02(a), (d) or (de) hereof. (b) Failure At any time other than a Credit Facility Period or a Bank Rate Period, failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section 8.01(a) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected. (c) The At any time other than a Credit Facility Period or a Bank Rate Period, the dissolution or liquidation of the Company, except as authorized by Section 2.02 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due. (d) The occurrence and continuance of a Default under the Indenture. (e) At any time during any Credit Facility Period, the occurrence of any “Default” or “Event of Default” under any Credit Agreement. (f) At any time during any Bank Rate Period, the occurrence of an “Event of Default” (as defined thereunder) under the Revolving Credit Agreement and the receipt by the Trustee of written notice thereof from the Administrative Agent (at the direction of the requisite lenders pursuant to the terms of the Revolving Credit Agreement).

Defaults Defined. The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following events: (a) Failure by the Company to pay any amount required provide the Authority with moneys sufficient to pay, or otherwise cause to be paid under paid, when due, interest on any Bond. (b) Failure by the Company to provide the Authority with moneys sufficient to pay, or otherwise cause to be paid, when due, the principal of, or premium, if any, on, any Bond, whether at the stated maturity thereof or upon proceedings for redemption thereof, or upon the maturity thereof by declaration. (c) Failure by the Company to provide the Authority with moneys sufficient to pay, or otherwise cause to be paid, when due, the Purchase Price of any Bond at the time required by Section 4.01 or 4.02 of the Indenture. (d) Failure by the Company to provide the Authority with moneys sufficient to pay, or otherwise cause to be paid, when due, any other amount due pursuant to Section 4.02(a) or (de) hereof. (be) Failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section Sections 8.01(a) through 8.01(d) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer Authority or the Trustee, unless the Issuer Authority and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure (other than a failure to satisfy a monetary obligation) stated in the notice cannot be corrected within the applicable period, the Issuer Authority and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected. (cf) The dissolution or liquidation of the Company, except as authorized by Section 2.02 or Section 6.15 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Prior Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due. (dg) The occurrence and continuance of a Default under the Indenture.

Defaults Defined. The following shall be “Defaults” under this Lease Agreement and the term “Default” shall mean, whenever it is used in this Lease Agreement, any one or more of the following events: (a) Failure by the Company to pay any amount required to be paid under Section 4.02(a) hereof that results in a failure to pay principal of or (d) hereof.interest on the Bonds, and such failure causes an Event of Default under the Bond Purchase Agreement; (b) Failure by the Company to observe and perform any material covenant, condition or agreement on its part to be observed or performedperformed hereunder, other than as referred to in Section 8.01(a) hereof, for a period of thirty (30) days after receipt by the Company of written notice from the Servicing Agent or the Bondholder specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer or the Trusteeremedied, unless the Issuer and Servicing Agent or the Trustee Bondholder shall agree in writing to an extension of such time prior to before its expirationexpiration or before such notice is rescinded; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer and Servicing Agent or the Trustee Bondholder, as applicable, will not unreasonably withhold their its consent to an extension of such time if (i) corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected and (ii) the Authorized Company Representative delivers a notice to the Servicing Agent or the Bondholder, as applicable, designating the date by which such failure is expected to be corrected.; (c) (i) The dissolution or liquidation of the Company, except as authorized by Section 2.02 hereof, or the ’s voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt debt, or any other form of debtor relief, or the initiation against the Company of any such proceeding proceeding, which shall remain undismissed or unstayed for sixty (60) consecutive days, or (ii) failure by the Company to promptly have discharged or stayed any execution, garnishment garnishment, or attachment of such consequence as would materially impair the Company’s ability of the Company to carry on its operations at the Project, or (iii) assignment by the Company for the benefit of creditors, or (iv) the Company’s entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due.creditors; or (d) The occurrence and continuance of a an Event of Default under the IndentureBond Purchase Agreement. The provisions of subsection (b) of this Section are subject to the following limitation: if, by reason of Force Majeure, the Company is unable, in whole or in part, to carry out any of its agreements contained herein (other than its obligations contained in Article IV hereof), the Company shall not be deemed in Default during the continuance of such inability. The Company agrees, however, to use reasonable efforts to remedy, with all reasonable dispatch, the cause or causes preventing the Company from carrying out its agreement; provided that the settlement of strikes and other industrial disturbances shall be entirely within the discretion of the Company, and the Company shall not be required to settle strikes, lockouts, and other industrial disturbances by acceding to the demands of the opposing party or parties when such course is, in the sole judgment of the Company, unfavorable to the Company.

Defaults Defined. The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following events: (a) Failure by the Company to pay any amount required to be paid under Section 4.02(a), (d) or (de) hereof. (b) Failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section 8.01(a) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected. (c) The dissolution or liquidation of the Company, except as authorized by Section 2.02 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due. (d) The occurrence and continuance of a Default under the IndentureIndenture or any default or “Event of Default” under the Credit Agreement.

Defaults Defined. The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following events: (a) Failure by the Company or ITT Holdings LLC, as applicable, to pay any amount required to be paid under Section 4.02(a), (d) or (de) hereof. (b) Failure At any time other than a Credit Facility Period or a Bank Rate Period, failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section 8.01(a) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected. (c) The At any time other than a Credit Facility Period or a Bank Rate Period, the dissolution or liquidation of the Company, except as authorized by Section 2.02 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due. (d) i. The occurrence and continuance of a Default under the Indenture. ii. At any time during any Credit Facility Period, the occurrence of any “Default” or “Event of Default” under any Credit Agreement. iii. At any time during any Bank Rate Period, the occurrence of an “Event of Default” (as defined thereunder) under the Revolving Credit Agreement and the receipt by the Trustee of written notice thereof from the Administrative Agent (at the direction of the requisite lenders pursuant to the terms of the Revolving Credit Agreement).

Defaults Defined. The following shall be “Defaults” under this Series 2018B Lease Agreement and the term “Default” shall mean, whenever it is used in this Series 2018B Lease Agreement, any one or more of the following events: (a) Failure by the Company to pay any amount required to be paid under Section 4.02(a) hereof that results in a failure to pay principal of or (d) hereof.interest on the Series 2018B Bonds, and such failure causes an Event of Default under the Bond Purchase Agreement; (b) Failure by the Company to observe and perform any material covenant, condition or agreement on its part to be observed or performedperformed hereunder, other than as referred to in Section 8.01(a) hereof, for a period of thirty (30) days after receipt by the Company of written notice from the Servicing Agent or the Bondholder specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer or the Trusteeremedied, unless the Issuer and Servicing Agent or the Trustee Bondholder shall agree in writing to an extension of such time prior to before its expirationexpiration or such notice is rescinded; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer and Servicing Agent or the Trustee Bondholder, as applicable, will not unreasonably withhold their its consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected., and if the Authorized Company Representative delivers a notice to the Servicing Agent or the Bondholder, as applicable, designating the date by which such failure is expected to be corrected; (c) The dissolution or liquidation of the Company, except as authorized by Section 2.02 hereof, or the ’s voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt debt, or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed or unstayed for sixty (60) consecutive days, or failure by the Company to promptly have discharged or stayed any execution, garnishment or attachment of such consequence as would materially impair the Company’s ability of the Company to carry on its operations at the Project, or assignment by the Company for the benefit of creditors, or the Company’s entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due.creditors; or (d) The occurrence and continuance of a an Event of Default under the Indenture.Bond Purchase

Defaults Defined. The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following events: (a) Failure by the Company or ITT Holdings LLC, as applicable, to pay any amount required to be paid under Section 4.02(a), (d) or (de) hereof. (b) Failure At any time other than a Credit Facility Period or a Bank Rate Period, failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section 8.01(a) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer Authority or the Trustee, unless the Issuer Authority and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer Authority and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected. (c) The At any time other than a Credit Facility Period or a Bank Rate Period, the dissolution or liquidation of the Company, except as authorized by Section 2.02 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due. (d) The occurrence and continuance of a Default under the Indenture. (e) At any time during any Credit Facility Period, the occurrence of any “Default” or “Event of Default” under any Credit Agreement. (f) At any time during any Bank Rate Period, the occurrence of an “Event of Default” (as defined thereunder) under the Revolving Credit Agreement and the receipt by the Trustee of written notice thereof from the Administrative Agent (at the direction of the requisite lenders pursuant to the terms of the Revolving Credit Agreement).

Defaults Defined. The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following events: (a) Failure by the Company to pay any amount required to be paid under Section 4.02(a) or (d) hereof. (b) Failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section 8.01(a) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected. (c) The dissolution or liquidation of the Company, except as authorized by Section 2.02 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due. (d) The occurrence and continuance of a Default under the Indenture.

Defaults Defined. The following shall be “"Defaults” " ---------------- under this Agreement and the term “"Default” " shall mean, whenever it is used in this Agreement, any one or more of the following events: (a) Failure failure by the Company Borrower to pay any amount required to be paid under subsection (a) of Section 4.02(a6.1 hereof or under Section 6.5 hereof, in either case, as and when due, or failure by the Borrower to pay any amount required to be paid under subsection (b) or (dc) hereof.of Section 6.1 hereof within five (5) days of written notice of such amount; or (b) Failure failure by the Company Borrower to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section 8.01(aSubsection 9.1(a) hereofabove, for a period of thirty (30) days Business Days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company Borrower by the Issuer or the TrusteeTrustee (and if by the Issuer with the approval of the Trustee and the Bank), unless the Issuer and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, neither the Issuer and nor the Trustee Trustee, as the case may be, will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company Borrower within the applicable period and diligently pursued until such failure is corrected.; or (c) The the dissolution or liquidation of the Company, except as authorized by Section 2.02 hereofBorrower, or the voluntary initiation by the Company Borrower of any proceeding under any federal or state law relating to the bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company Borrower of any such proceeding which shall remain undismissed for sixty (60) days, or failure by of the Company Borrower to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company Borrower to carry on its operations at the Projectbusiness operations, or assignment by the Company Borrower for the benefit of creditors, or the entry by of the Company Borrower into an agreement of composition with its creditors or the failure generally by the Company Borrower to pay its debts as they become due.; or (d) The the occurrence and continuance of a Default under the Indenture. The provisions of subsection (b) of this Section are subject to the following limitation: if by reason of force majeure the Borrower is unable in whole or in ----- ------- part to carry out any of its agreements contained herein (other than its obligations contained in Article VI hereof), the Borrower shall not be deemed in Default during the continuance of such inability. The term "force majeure" as ------------- used herein shall mean, without limitation, the following: acts of God; strikes or other industrial disturbances; acts of public enemies; orders or restraints of any kind of the government of the United States of America or of the State or of any of their departments, agencies or officials, or of any civil or military authority; insurrections; riots; landslides; earthquakes; fires; storms; droughts; floods; explosions; breakage or accident to machinery, transmission pipes or canals; and any other cause or event not reasonably within the control of the Borrower. The Borrower agrees, however, to remedy with all reasonable dispatch the cause or causes preventing the Borrower from carrying out its agreement, provided that the Borrower shall not be unreasonably required to settle any strike or industrial disturbance.

Defaults Defined. The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following events: (a) Failure by the Company to pay any amount required provide the Authority with moneys sufficient to pay, or otherwise cause to be paid under paid, when due, interest on any Bond. (b) Failure by the Company to provide the Authority with moneys sufficient to pay, or otherwise cause to be paid, when due, the principal of, or premium, if any, on, any Bond, whether at the stated maturity thereof or upon proceedings for redemption thereof, or upon the maturity thereof by declaration. (c) Failure by the Company to provide the Authority with moneys sufficient to pay, or otherwise cause to be paid, when due, the Purchase Price of any Bond at the time required by Section 4.01 or 4.02 of the Indenture. (d) Failure by the Company to provide the Authority with moneys sufficient to pay, or otherwise cause to be paid, when due, any other amount due pursuant to Section 4.02(a) or (de) hereof. (be) Failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section Sections 8.01(a) through 8.01(d) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer Authority or the Trustee, unless the Issuer Authority and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure (other than a failure to satisfy a monetary obligation) stated in the notice cannot be corrected within the applicable period, the Issuer Authority and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected. (cf) The dissolution or liquidation of the Company, except as authorized by Section 2.02 or Section 6.15 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due. (dg) The occurrence and continuance of a Default under the Indenture.

Defaults Defined. The following shall be “Defaults” under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following events: (a) Failure by the Company to pay any amount required provide the Issuer with moneys sufficient to pay, or otherwise cause to be paid under paid, when due, interest on any Bond. (b) Failure by the Company to provide the Issuer with moneys sufficient to pay, or otherwise cause to be paid, when due, the principal of, or premium, if any, on, any Bond, whether at the stated maturity thereof or upon proceedings for redemption thereof, or upon the maturity thereof by declaration. (c) Failure by the Company to provide the Issuer with moneys sufficient to pay, or otherwise cause to be paid, when due, the Purchase Price of any Bond at the time required by Section 4.01 or 4.02 of the Indenture. (d) Failure by the Company to provide the Issuer with moneys sufficient to pay, or otherwise cause to be paid, when due, any other amount due pursuant to Section 4.02(a) or (de) hereof. (be) Failure by the Company to observe and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section Sections 8.01(a) through 8.01(d) hereof, for a period of thirty (30) days after written notice specifying such failure and requesting that it be remedied shall have been given to the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension of such time prior to its expiration; provided, however, if the failure (other than a failure to satisfy a monetary obligation) stated in the notice cannot be corrected within the applicable period, the Issuer and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is corrected. (cf) The dissolution or liquidation of the Company, except as authorized by Section 2.02 or Section 6.15 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Prior Project, or assignment by the Company for the benefit of creditors, or the entry by the Company into an agreement of composition with its creditors or the failure generally by the Company to pay its debts as they become due. (dg) The occurrence and continuance of a Default under the Indenture.

Defaults Defined. The following events shall be “Defaults” deemed to be events of default by Tenant under this Agreement and the term “Default” shall mean, whenever it is used in this Agreement, any one or more of the following eventsLease: (ai) Failure by the Company If Tenant shall fail to pay any amount required installments of the rent, or any other charge designated herein to be paid under Section 4.02(a) or (d) hereof. (b) Failure by as rent, on the Company to observe date that same is due, and perform any covenant, condition or agreement on its part to be observed or performed, other than as referred to in Section 8.01(a) hereof, such failure shall continue for a period of ten (10) days after Landlord gives Tenant written notice thereof. (ii) If Tenant shall fail to comply with any term, condition, or covenant of this Lease, other than the payment of rent, and shall not cure such failure within thirty (30) days after written notice specifying thereof to Tenant; or if such failure cannot reasonably be cured within the said thirty (30) days, Tenant shall not have commenced to cure such failure within thirty (30) days after written notice thereof to Tenant and requesting that it be remedied Tenant shall have been given to not with reasonable diligence and good faith proceed in the Company by the Issuer or the Trustee, unless the Issuer and the Trustee shall agree in writing to an extension curing of such time prior to its expiration; provided, however, if the failure stated in the notice cannot be corrected within the applicable period, the Issuer and the Trustee will not unreasonably withhold their consent to an extension of such time if corrective action is instituted by the Company within the applicable period and diligently pursued until such failure is correctedfailure. (ciii) The dissolution If Tenant shall become insolvent or liquidation of the Company, except as authorized by Section 2.02 hereof, or the voluntary initiation by the Company of any proceeding under any federal or state law relating to bankruptcy, insolvency, arrangement, reorganization, readjustment of debt or any other form of debtor relief, or the initiation against the Company of any such proceeding which shall remain undismissed for sixty (60) days, or failure by the Company to promptly have discharged any execution, garnishment or attachment of such consequence as would impair the ability of the Company to carry on its operations at the Project, or make an assignment by the Company for the benefit of creditors, or if Tenant files a petition under any chapter of the entry by U. S. Bankruptcy Act seeking to be adjudicated a bankrupt, or if any other party files a petition under any section of the Company into an agreement U. S. Bankruptcy Act seeking to have Tenant adjudicated a bankrupt and Tenant fails to have such petition dismissed within ninety (90) days of composition with its creditors filing, or if a receiver or beneficiary shall be appointed for all or substantially all of the failure generally by the Company to pay its debts as they become dueassets of Tenant. (d) The occurrence and continuance of a Default under the Indenture.