Optional Default Sample Clauses
The Optional Default clause defines the circumstances under which a party may choose to treat a specific event or failure as a default under the agreement. In practice, this clause allows a party to decide whether to invoke default remedies if the other party fails to perform certain non-essential obligations, rather than automatically triggering default consequences. This flexibility helps parties manage minor breaches without escalating to full default, thereby maintaining the contractual relationship and avoiding unnecessary disputes.
Optional Default. An “Optional Default” shall occur, at Lender’s option, upon the occurrence of any of the following events:
Optional Default. An "Optional Default" shall occur, at Beneficiary's option, upon the occurrence of any of the following events:
Optional Default. An “Optional Default” shall occur, at Beneficiary’s option, upon the occurrence of any of the following events: DEED OF TRUST (NORTH CAROLINA) ▇▇▇▇▇ Fargo/▇▇▇▇ Properties/Cracker Barrel Loan ▇▇. ▇▇-▇▇▇▇▇▇▇▇/▇▇▇▇▇ ▇▇. ▇▇▇
Optional Default. Delete Section 7.1(a)(vi)
Optional Default. The Company may declare the Seller to be in default if: (1) at any time prior to June 1, 2024 and after capacity payments have begun, the Company has sufficient reason to believe that the Facility is unable to deliver its Committed Capacity; (2) because of a Seller’s refusal, inability or anticipatory breach of its obligation to deliver its Committed Capacity after June 1, 2024; or (3) the Company has made three or more determinations of non-performance due to the failure of the Seller to notify the Company of a known derating or inability to supply Committed Capacity during any eighteen month period.
Optional Default. The Company may declare the QF to be in default if: (1) at any time prior to June 1, 2002 and after capacity payments have begun, the Company has sufficient reason to believe that the QF is unable to deliver its Committed Capacity from the facility; (2) after June 1, 2002, the QF fails to maintain a 98% availability factor over any twenty-four consecutive month period; (3) because of a QF's refusal, inability or anticipatory breach of obligation to deliver its Committed Capacity after June 1, 2002; or (4) the Company has made three or more determinations of non-performance due to the failure of the QF to notify the Company of a known derating or inability to supply Committed Capacity during any eighteen month period. Section IX Third Revised Sheet No. 9.30
Optional Default. The Company may declare the QF to be in default: (1) if at any time prior to April 1, 1992 and after capacity payments have begun the Company has sufficient reason to believe that the QF is unable to deliver its Committed Capacity, or (2) after April 1, 1992 the QF fails to maintain a 70% capacity factor on a twelve month rolling average basis for 24 consecutive months, or (3) because of a QF's refusal, inability or anticipatory breach of obligation to deliver its Committed Capacity after April 1, 1992.
Optional Default. An "Optional Default" shall occur, at Mortgagee's option, upon the occurrence of any of the following events:
Optional Default. The failure of the Consignee to comply with any reasonable request of the Consignor with respect to Uniform Commercial Code compliance shall constitute a condition of default under this Agreement, and shall entitle the Consignor to exercise any and all remedies available under the Uniform Commercial Code and this Agreement.