Common use of Failure to Cure Default Clause in Contracts

Failure to Cure Default. If the GOB fails to cure or is unable or unwilling to cure a BPDB Event of Default, as the case may be, within the cure periods provided to BPDB, as the case may be, under this Agreement, the Power Purchase Agreement, respectively, the Company shall have all of its rights and remedies with respect to such default as set forth in this Agreement, the Power Purchase Agreement, as the case may be, provided, that if the GOB is diligently attempting to cure any default other than a payment default of BPDB, as the case may be, and demonstrable progress toward affecting such cure is being made, the GOB shall be granted an additional period not exceeding ninety (90) Days to effect such cure before the Company may exercise its rights and remedies with respect to such default set forth in this Agreement and the Power Purchase Agreement, as the case may be.

Appears in 6 contracts

Samples: Implementation Agreement, Implementation Agreement, Implementation Agreement

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