Common use of Events of Default and Termination Events Clause in Contracts

Events of Default and Termination Events. The following Events of Default and Termination Events shall apply to Party A and Party B as set forth below: Event of Default/Termination Event Applies to Party A Applies to Party B Section 5(a)(i) Payment Default No No Section 5(a)(ii) Breach of Agreement No No Section 5(a)(iii) Credit Support Default No No Section 5(a)(iv) Misrepresentation No No Section 5(a)(v) Default Under Specified Transaction Yes Yes Section 5(a)(vi) Cross Default No No Section 5(a)(vii) Bankruptcy Yes Yes Section 5(a)(viii) Merger Without Assumption No No Section 5(b)(i) Illegality Yes Yes Section 5(b)(ii) Tax Event No No Section 5(b)(iii) Tax Event Upon Merger No No Section 5(b)(iv) Credit Event Upon Merger No No Section 5(b)(v) Additional Termination Events No No