Disruption Event. 16.1. A Disruption Event is an event that either generally makes it impossible or makes it impossible for a party to the FX Transaction to:
Disruption Event a failure by the Contractor to carry out the Works in accordance with this Agreement the result of which is that an Existing School (or part thereof) cannot reasonably continue to be used for the provision of Educational Services; Distribution
Disruption Event. Either or both of:
Disruption Event. 17.1 No liability in case of the Disruption Event: Neither party will breach these Terms or any Contract nor be liable for delay in performing or failure to perform any of its obligations under any Contract if such delay or failure results from a Disruption Event for the period of time during which the Disruption Event continues. We will if necessary contact you as soon as reasonably possible to notify you of a Disruption Event which has resulted in our delay or failure to perform any of our obligations under a Contract.
Disruption Event. In the event of a Disruption Event, Company shall have the right to suspend the Token Sale for up to forty-eight (48) hours. If Company elects to suspend the Token Sale, Company will publicly announce the suspension as soon as reasonably practicable and, prior to resuming the Token Sale, Company will announce the resumption at least four (4) hours in advance. If Company suspends the Token Sale for a period of time (the “Suspension Period”) pursuant to this Section 23, Company will determine in its sole discretion whether to (i) nevertheless end the Token Sale on the scheduled end date, or (ii) extend the Token Sale for a period equal to the Suspension Period. Company shall provide notice of its election in this regard in the public announcements of the resumption of the Token Sale following the Suspension Period. A “Disruption Event” means (i) any event or occurrence that causes a disruption in the functionality of the Ethereum network or of the blockchain network underlying any of the accepted Purchase Currencies, and such disruption has a material adverse effect on the processing time for network transactions, or (ii) any event or occurrence that causes a disruption in the functionality of the smart contracts or other software used in connection with the Token Sale and such disruption has an adverse effect on the implementation of the Token Sale, (iii) a change in the price of any accepted Purchase Currency of twenty percent (20%) or more in any twenty four (24) hour period, or (iv) any compromise of security that has or in our sole good faith determination may have an adverse impact on the Token Sale.
Disruption Event occurs and the Facility Agent or a Borrower so requires, the Facility Agent and the Borrower shall enter into negotiations (for a period of not more than 30 days, or such longer period as the Facility Agent may agree) with a view to agreeing a substitute basis for determining the rate of interest.
Disruption Event. Notwithstanding the foregoing in this Section 4.01, in the case of any event described in clause (1), (2) or (6) above, an Early Redemption Event with respect to Series 2005-B will be deemed to have occurred only if, after the applicable grace period described in such clause, if any, either the Indenture Trustee or Series 2005-B Noteholders holding Series 2005-B Notes evidencing more than 50% of the Outstanding Dollar Principal Amount of the Series 2005-B Notes by written notice to the Seller, the Servicer and the Indenture Trustee, if given by Series 2005-B Noteholders, declare that an Early Redemption Event with respect to the Series 2005-B Notes has occurred as of the date of that notice. In the case of any Early Redemption Event described in clause (3), (4), (5), (7), (8), (9), (10), (11) or (12) above, an Early Redemption Event with respect to the Series 2005-B Notes shall be deemed to have occurred without any notice or other action on the part of the Indenture Trustee or the Series 2005-B Noteholders immediately upon the occurrence of such event. Notwithstanding the foregoing in this Section 4.01, if (x) an Early Redemption Period results from the failure by DCWR to convey Receivables in Additional Accounts to the Issuer, as described in clause (4) above during the Revolving Period, (y) no other Early Redemption Event that has not been cured or waived in accordance with the Indenture has occurred and (z) each Note Rating Agency has confirmed that recommencing the Revolving Period will not cause a Ratings Effect, then the Early Redemption Period resulting from such failure will terminate and the Revolving Period will recommence as of the end of the first Collection Period during which the Seller would no longer be required to convey Receivables in Additional Accounts to the Issuer; provided that the Revolving Period will not recommence if the scheduled termination date of the Revolving Period has occurred. Notwithstanding the foregoing in this Section 4.01, if an Early Redemption Event (other than an Early Redemption Event specified in clause (3) or (10) above) has occurred and the scheduled termination of the Revolving Period has not occurred, the Indenture Trustee shall request from Standard & Poor's a confirmation that such Early Redemption Event will not cause a Ratings Effect. If the Indenture Trustee receives such confirmation and the Majority Holders of Series 2005-B Notes consent to the recommencement of the Revolving Period, the related Earl...
Disruption Event either or both of: (a) an event (not caused by, and outside the control of, either party) that materially disrupts the systems for payment or communication, or the financial markets needed, in each case, to enable either payment to be made or transactions to be carried out under the Finance Documents; or (b) any other event (not caused by, and outside the control of, the party whose operations are disrupted) occurs, that results in disruption (of a technical or systems-related nature) to the treasury or payments operations of a party and which prevents either or both parties from: (i) performing its payment obligations under the Finance Documents; or (ii) communicating with the other party as required by the terms of the Finance Documents.
Disruption Event. To the extent that Xxxxxxx Xxxxx determines in a commercially reasonable manner that as a result of the occurrence of any event occurring in the market or as a result of limitations provided in this Agreement Xxxxxxx Xxxxx cannot purchase a sufficient amount of shares of Common Stock equal to the number of Initial Shares less the sum of all Actual Share Purchase Amounts which have been executed up to and including the date of such determination (the “Remaining Shares”), Xxxxxxx Xxxxx may require the Company to deliver to Xxxxxxx Xxxxx the Remaining Shares against a payment per share equal to (a) in the case of delivery by the Company of shares of Common Stock registered for resale under the Securities Act, the Closing Price on the Trading Day immediately preceding such date of delivery, or (b) in the case of delivery by the Company of shares of Common Stock not registered for resale under the Securities Act, the price at which Xxxxxxx Xxxxx can sell such shares; provided, that Xxxxxxx Xxxxx will have discretion as to the timing of such sales and will use its reasonable efforts to obtain the best bid price in the private market, and the case of (a) and (b) above, the Company will pay to Xxxxxxx Xxxxx the Acceleration Fee; provided, that if Xxxxxxx Xxxxx ceases purchasing shares of Common Stock pursuant to Section 3.l(b)(iv) in light of internal policies and procedures reasonably adopted by Xxxxxxx Xxxxx, the Company shall not be required to pay the Acceleration Fee. If Xxxxxxx Xxxxx exercises its option pursuant to this Section 2(e), the date of such exercise shall be referred to as the “Disruption Acceleration Date.”
Disruption Event. If a Market Disruption Event occurs and has continued for 10 Business Days, the Borrower may prepay all affected Term Loans.
