Common use of Provider Default Clause in Contracts

Provider Default. 11.1 On or after the occurrence of any Provider Default, the Scottish Ministers shall be entitled by notice in writing and with immediate effect, to exercise any or all of the following rights and remedies: 11.1.1 to terminate this Agreement in full; 11.1.2 to suspend all further Equity Funding payments; or 11.1.3 to require repayment within 10 (ten) Business Days of any Equity Funding paid in whole or part (save to the extent secured on an Eligible Dwelling pursuant to the Shared Equity Documentation); 11.2 In relation to the exercise by the Scottish Ministers of its rights in Condition 11.1 the Provider shall pay on demand all the Scottish Ministers' losses incurred as a result of the Provider Default (whether or not this Agreement is terminated) including any costs incurred by the Scottish Ministers in investigating any Provider Default which has occurred.