Service Defaults Sample Clauses

Service Defaults. If any one of the following events (a "Service Default") shall occur and be continuing with respect to the Servicer: (a) any failure by the Servicer to make any payment, transfer or deposit or to give instructions or to give notice to the Trustee to make such payment, transfer or deposit or to give notice to the Trustee as to any action to be taken under any Enhancement Agreement on or before the date occurring five days after the date such payment, transfer or deposit or such instruction or notice is required to be made or given, as the case may be, under the terms of this Agreement; (b) failure on the part of the Servicer duly to observe or perform any other covenants or agreements of the Servicer set forth in this Agreement which has a material adverse effect on the Investor Certificateholders of any Series, which continues unremedied for a period of 30 days after the date on which written notice of such failure, requiring the same to be remedied, shall have been given to the Servicer by the Trustee; or the Servicer shall delegate its duties under this Agreement, except as permitted by Sections 3.01 and 8.07; (c) any representation, warranty or certification made by the Servicer in this Agreement or in any certificate delivered pursuant to this Agreement shall prove to have been incorrect when made, which has a material adverse effect on the rights of the Investor Certificateholders of any Series and which material adverse effect continues for a period of 60 days after the date on which written notice thereof, requiring the same to be remedied, shall have been given to the Servicer by the Trustee; (d) the Servicer shall consent to the appointment of a conservator or receiver or liquidator or other similar official in any bankruptcy, insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings of or relating to the Servicer or of or relating to all or substantially all of its property, or a decree or order of a court or agency or supervisory authority having jurisdiction in the premises for the appointment of a conservator or receiver or liquidator or other similar official in any insolvency, readjustment of debt, marshalling of assets and liabilities or similar proceedings, or for the winding up or liquidation of its affairs, shall have been entered against the Servicer and such decree or order shall have remained in force undischarged or unstayed; or the Servicer shall admit in writing its inability to pay its debts ge...
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Service Defaults. 60 SECTION 10.02 Trustee to Act; Appointment of Successor...................................................62
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Service Defaults. 59 SECTION 10.02 Custodian to Act; Appointment of Successor................................ 60
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Service Defaults. If any Service Failure other than a Service Failure under Section 6.1(b)(i)(4) continues for any thirty two (32) hours of any forty eight (48) hour period, it shall be deemed a "Service Default" and the following additional provisions shall apply:
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Service Defaults. 1663 (1) Failure to Perform. Contractor’s failure to perform any duty or obligation in whole or in part for 1664 more than one (1) consecutive Working Day or more than five (5) total Working Days in any Calendar 1665 Year. A failure to perform may also include Contractor’s failure to fully implement the Recycling, 1666 Composting, other Processing, and education and outreach programs required under this Agreement 1667 which may be determined as part of the performance review described in Section 4.21.
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Service Defaults. If any Service Failure other than a Service Failure under Section 6.1(b)(i)(4) continues for any thirty, two (32) hours of any forty eight (48) hour period, it shall be deemed a "Service Default" and the following additional provisions shall apply: (i) Control of Northwind Facilities. The Customer shall have the right to assume control of the Northwind Facilities and maintain such control until such Service Default has been cured or corrected and take any action reasonably intended to correct or cure such Service Default at the Supplier's sole cost and expense (except that, other than as provided in Section 6.1(c)(ii) below, the Customer shall remain liable for the Contract Capacity Charge). (ii) Abatement. The Customer shall be entitled to an abatement of the Contract Capacity Charge for the month during which such Service Default has occurred in an amount equal to (A) the Contract Capacity Charge then in effect for such month multiplied by a fraction, the numerator of which shall be the number of days during which such Service Default has occurred during such month and the denominator of which shall be the number of days in such months, multiplied by (B) 70% if such Service Default was with respect to Chilled Water Service, or 9% if such Service Failure was with respect to Hot Water Service, or 21% if such Service Default was with respect to Electricity Service. The amount of any applicable abatement of Contract Capacity Charges under this Section 6.1 (b) shall be due and payable on the first day of the month following the month during which such Service Default shall have occurred and may be off-set by the Customer against the Contract Capacity Charge which is due and payable on such date with respect to the month then beginning.
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Related to Service Defaults

  • Customer Default The occurrence at any time of any of the following events shall constitute a “Customer Default”:

  • Specific Defaults The Company fails to perform or observe any term, covenant or agreement contained in any of Section 6.01, 6.02, 6.03 or 6.09(c) or in Article VII; or

  • Major Default The Purchasers shall be considered to be in “Major Default” in the event that (a) the Purchasers are in breach of their obligations under the Agreement and (b) such breaches, individually or in the aggregate, resulted or would reasonably be expected to result in (i) material Losses to the Sellers or their Affiliates, (ii) material reputational harm to the Sellers or their Affiliates, (iii) material and adverse regulatory consequences to the Sellers or their Affiliates, for which, in each case of clauses (i) through (iii), indemnification by the Purchasers pursuant to Article 8 of the Agreement would not be sufficient to remedy all damages incurred by the Sellers and their Affiliates or (iv) if the Sellers reasonably determine, based on the advice of counsel, that it would reasonably be expected to be a violation of their fiduciary duties under applicable Law to not terminate the Agreement, taking into account the indemnification by the Purchasers pursuant to Article 8 of the Agreement; provided, that the following breaches shall be excluded, and not taken into account, in determining if a Major Default has occurred: (x) any breach to the extent resulting from any action taken by the Purchasers pursuant to and in accordance with written direction given by the Sellers and (y) any breach to the extent arising out of or resulting from, directly or indirectly, a breach by the Sellers of the Agreement, the Transition Services Agreement or the Purchase Agreement.

  • Termination for Default The Commonwealth may terminate this Agreement by notice where it reasonably believes the Grantee: (a) has breached this Agreement; or (b) has provided false or misleading statements in their application for the Grant; or (c) has become bankrupt or insolvent, entered into a scheme of arrangement with creditors, or come under any form of external administration.

  • Termination for Default; Remedies 8.2.1 Each of the following shall constitute an immediate event of default (“Event of Default”) under this Agreement: (a) Contractor fails or refuses to perform or observe any term, covenant or condition contained in any of the following Sections of this Agreement: