Participant Breach Sample Clauses
Participant Breach. During the term of this Agreement, each of the following shall be an event of default by the Participant ("Participant Event of Default"):
(a) The Project or Portfolio fails to achieve at least 90% of the Anticipated Electricity Savings in any M&V Reporting Period.
(b) The Participant fails to post Performance Security in accordance with Article VII, if such failure is not remedied within five Business Days after written notice of such failure from the IESO.
(c) The Participant fails to perform any material covenant or obligation set forth in this Agreement if such failure is not remedied within 15 Business Days after written notice of such failure from the IESO, provided that such cure period shall be extended by the IESO for a further 10 Business Days if the IESO is satisfied that the Participant is diligently remedying such failure and that such failure is capable of being cured during such extended cure period.
(d) Any representation or warranty made by the Participant in this Agreement is not true or correct in any material respect when made and is not made true or correct in all material respects within 10 Business Days after receipt by the Participant of written notice of such fact from the IESO, provided that such cure period shall be extended by the IESO for a further 10 Business Days if the IESO is satisfied that the Participant is diligently correcting such breach and that such breach is capable of being corrected during such extended cure period.
(e) The Participant fails or ceases to hold a valid license, permit, certificate, registration, authorization, consent or approval issued by a Governmental Authority where such failure or cessation results in, or could be reasonably expected to result in, a Material Adverse Effect on the Participant or the Project or Portfolio and is not remedied within 10 Business Days after receipt by the Participant of written notice of such failure or cessation from the IESO, provided that such cure period shall be extended by the IESO for a further 10 Business Days if the IESO is satisfied that the Participant is diligently remedying such failure or cessation and that such failure or cessation is capable of being corrected during such extended cure period.
(f) An effective resolution is passed or documents are filed in an office of public record in respect of, or a judgment or order is issued by a court of competent jurisdiction ordering, the dissolution, termination of existence, liquidation or winding up of the ...
Participant Breach. During the term of this Agreement, each of the following will be an event of default by the Participant (each, a
(a) the In-Service Date has not occurred by the earlier of (i) second anniversary of the Effective Date and (ii) December 31, 2022;
(b) the Participant fails to perform any material covenant or obligation set forth in this Agreement, if such failure is not remedied within ten
Participant Breach. The Intermediary will identify any Participant who executes an Exchange Redemption following the Participant Warning Event during the Monitoring Period (the “Participant Breach”). The Intermediary will impose the “Participant Transaction Restrictions” set forth herein upon such Participant as soon as administratively practicable after identifying the Participant Breach. The Intermediary will notify the Participant in writing of such restrictions. Any Exchange Purchase initiated by a Participant after the Participant Breach that is executed prior to the date that the Intermediary actually imposes the Participant Trading Restrictions will not be reversed, revoked or otherwise cancelled by the Intermediary or the Funds.
Participant Breach. During the Term of the Agreement, each of the following will be an event of default by the Participant (“Participant Event of Default”):
(a) the Participant fails to post and maintain security as required under an Incentive Schedule, if such failure is not remedied within five Business Days after written notice of such failure from the IESO;
(b) the Participant breaches any material obligation in the Agreement not otherwise listed in this Section 7.1 and such failure is not remedied within 15 Business Days after written notice of such failure from the IESO;
(c) any representation or warranty made by the Participant in the Agreement is not true or correct in any material respect when made, or during the Term, and is not made true or correct in all material respects within 15 Business Days after receipt by the Participant of written notice of such fact from the IESO;
(d) the Participant fails to obtain or ceases to hold any necessary Governmental Approval where such failure or cessation results in, or could be reasonably expected to result in, a Material Adverse Effect and is not remedied within 15 Business Days after receipt by the Participant of written notice of such failure or cessation from the IESO;
(e) any steps are taken by the Participant, a third party or a court of competent jurisdiction in respect of the dissolution, termination of the existence, liquidation or winding up of the Participant, unless such steps are immediately rendered inapplicable, or unless there has been a permitted assignment of the Agreement by the Participant to a Person which is not dissolving, terminating its existence, liquidating or winding up and such Person has assumed all of the Participant’s obligations under the Agreement;
(f) other than in accordance with Section 12.2, the Participant assigns this Agreement, amalgamates with another Person, or undergoes a change of Control;
(g) an Event of Insolvency occurs with respect to the Participant;
(h) the Participant makes a material amendment to a Project or Portfolio or otherwise to the scope of its Funded Activities that has not first been consented to in writing by the IESO, acting reasonably;
(i) with respect to a Project or Portfolio for which the Participant has executed an Incentive Schedule for Large Projects, Small Projects, Retrofits or HPNC:
(i) the In-Service Date has not occurred by the earlier of: (A) the applicable Implementation Deadline; and (B) the Program Expiry Date; or
(ii) the Project or Portfolio fai...
Participant Breach. 19 - 9.2 Remedies of the IESO......................................................................................- 21 - 9.3 Other Performance Security.............................................................................- 23 - 9.4 Remedies Not Cumulative ...............................................................................- 23 - ARTICLE X LIMITATION OF LIABILITY AND INDEMNIFICATION...........................- 24 - 10.1 No Warranty.....................................................................................................- 24 - 10.2 Limitation of Liability......................................................................................- 24 - 10.3 Indemnification by the Participant...................................................................- 24 - 10.4 Defence of Claims............................................................................................- 25 - 11.2 Assignment ......................................................................................................- 26 - 11.3 Environmental Attributes.................................................................................- 26 - 11.4 Company Representative .................................................................................- 27 - 11.5 Project Communications..................................................................................- 27 - 11.6 M&V Reporting ...............................................................................................- 27 - 11.7 Notice...............................................................................................................- 27 - 11.8 Counterparts and Execution .............................................................................- 28 - SCHEDULE "A" DEFINED TERMS .....................................................................................- 30 - SCHEDULE "B" SUPPLEMENTARY TERMS & CONDITIONS.......................................- 40 - ARTICLE I CONFIDENTIALITY AND FIPPA....................................................................- 40 - 1.1 Confidential Information .................................................................................- 40 - 1.2 Notice Preceding Compelled Disclosure .........................................................- 41 - 1.3 Return of Information ......................................................................................- 41 - 1.4 Injunctive and Other Relief......................................................