Common use of Termination by Developer Clause in Contracts

Termination by Developer. 27.1 If: (a) the Grantor fails to pay an amount of money exceeding US$100,000 due under this Agreement, and that amount remains outstanding for more than 90 days; (b) the Government expropriates, sequestrates or requisitions (by a single or a series of events) the whole or substantially the whole of the Toll Road, the Contract Plant, the Construction Works, or the Contractor's Equipment); (c) the Grantor is in breach, and that breach has not been remedied for more than 90 days, of any of its obligations under this Agreement or the GPD Loan Agreement, Lease Agreement and Grantor Working Capital Reserve Agreement: (i) in a manner or to an extent that is material in the context of the Grantor’s obligations, and/or the Developer’s rights, under this Agreement or the Developer's obligations under any Financing Agreement; or (ii) where the breach is: (A) deliberate or wilful; or (B) indicates an intention, desire or preference not to comply with the relevant obligations; or (C) is repeated or persistent to such an extent as is, in the Developer's reasonable opinion, material, (d) the [GOVERNMENT] is in breach, for more than 90 days, of its obligations under the Implementation Agreement, the Government Guarantee or any other document with respect to the Project to which it is a party or that it issued; (i) in a manner or to an extent that is material in the context of the Grantor’s obligations, and/or the Developer’s rights, under this Agreement or the Developer's obligations under any Financing Agreement; or

Termination by Developer. 27.1 If: (a) the Grantor fails to pay an amount of money exceeding US$100,000 due under this Agreement, and that amount remains outstanding for more than 90 days; (b) the Government expropriates, sequestrates or requisitions (by a single or a series of events) the whole or substantially the whole of the Toll Road, the Contract Plant, the Construction Works, or the Contractor's Equipment); (c) the Grantor is in breach, and that breach has not been remedied for more than 90 days, of any of its obligations under this Agreement or the GPD Loan Agreement, Lease Agreement and Grantor Working Capital Reserve Agreement: (i) in a manner or to an extent that is material in the context of the Grantor’s obligations, and/or the Developer’s rights, under this Agreement or the Developer's obligations under any Financing Agreement; or (ii) where the breach is: (A) deliberate or wilful; or (B) indicates an intention, desire or preference not to comply with the relevant obligations; or (C) is repeated or persistent to such an extent as is, in the Developer's reasonable opinion, material, (d) the [GOVERNMENT] Government of Jamaica is in breach, for more than 90 days, of its obligations under the Implementation Agreement, the Government Guarantee or any other document with respect to the Project to which it is a party or that it issued; (i) in a manner or to an extent that is material in the context of the Grantor’s obligations, and/or the Developer’s rights, under this Agreement or the Developer's obligations under any Financing Agreement; or