Common use of Firm Scheme Default Clause in Contracts

Firm Scheme Default. 3.1 The following circumstances shall constitute a Firm Scheme Default: 3.1.1 a breach by the Provider of the warranties set out in Conditions 4.1 and 5.4; 3.1.2 an Insolvency Event has occurred in relation to the Provider; 3.1.3 a Prohibited Act has been committed by or on behalf of the Provider (in respect of which the Waiver Condition has not been satisfied); 3.1.4 a breach of Condition 8.1 3.1.5 the Provider ceases operating; 3.1.6 the Provider's status as a Registered Provider is lost or removed; 3.1.7 the Regulator directs or recommends that Financial Assistance is not to be given to the Provider by the Agency; 3.1.8 the Regulator directs the Provider to repay all or part of the DPF proceeds to be utilised by the Provider in meeting the Development Costs; and/or 3.1.9 a breach of the Provider's Firm Scheme Obligations. 3.2 The Provider must notify the Agency immediately in writing on the occurrence of a Firm Scheme Default. 3.3 Where the Firm Scheme Default is: 3.3.1 an occurrence specified in Condition 3.1.2, 3.1.3, 3.1.5, 3.1.6, and/or 3.1.7, the Agency shall be entitled forthwith and without any liability to the Provider terminate the Agreement; 3.3.2 an occurrence specified in Condition 3.1.1, 3.1.4, 3.1.8 and/or 3.1.9 the Agency may serve notice on the Provider requiring the Provider to remedy the breach and if within a period of thirty (30) Business Days following service of such notice: (a) the breach has not been remedied; or (b) where so permitted by the Agency the Provider has not given an undertaking to remedy the breach on terms satisfactory to the Agency; or (c) if it becomes apparent that the Firm Scheme Default is incapable of remedy either within such period or at all; the Agency shall be entitled on giving not less than ten (10) Business Days' notice and without any liability to the Provider (but without determining the whole of this Agreement) to terminate the Agreement insofar as it relates to the Firm Scheme in relation to which the relevant occurrence has arisen. 3.4 Where this Agreement is terminated by the Agency pursuant to:

Firm Scheme Default. 3.1 The following circumstances shall constitute a Firm Scheme Default: 3.1.1 a A breach by the Provider of the warranties set out in Conditions 4.1 and 5.4; 3.1.2 an Insolvency Event has occurred in relation to the Provider; 3.1.3 a Prohibited Act has been committed by or on behalf of the Provider (in respect of which the Waiver Condition has not been satisfied); 3.1.4 a breach of Condition 8.1 3.1.5 the Provider ceases operating; 3.1.6 the Provider's status as a Registered Provider is lost or removed; 3.1.7 the Regulator directs or recommends that Financial Assistance is not to be given to the Provider by the Agency; 3.1.8 the Regulator directs the Provider to repay all or part of the DPF proceeds to be utilised by the Provider in meeting the Development Costs; and/or 3.1.9 a breach of the Provider's Firm Scheme Obligations. 3.2 The Provider must notify the Agency immediately in writing on the occurrence of a Firm Scheme Default. 3.3 Where the Firm Scheme Default is: 3.3.1 an occurrence specified in Condition 3.1.2, 3.1.3, 3.1.5, 3.1.6, and/or 3.1.7, the Agency shall be entitled forthwith and without any liability to the Provider terminate the Agreement; 3.3.2 an occurrence specified in Condition 3.1.1, 3.1.4, 3.1.8 and/or 3.1.9 the Agency may serve notice on the Provider requiring the Provider to remedy the breach and if within a period of thirty (30) Business Days following service of such notice: (a) the breach has not been remedied; or (b) where so permitted by the Agency the Provider has not given an undertaking to remedy the breach on terms satisfactory to the Agency; or (c) if it becomes apparent that the Firm Scheme Default is incapable of remedy either within such period or at all; the Agency shall be entitled on giving not less than ten (10) Business Days' notice and without any liability to the Provider (but without determining the whole of this Agreement) to terminate the Agreement insofar as it relates to the Firm Scheme in relation to which the relevant occurrence has arisen. 3.4 Where this Agreement is terminated by the Agency pursuant to: