Termination for Operator Default Clause Samples

The 'Termination for Operator Default' clause allows one party to end the contract if the operator fails to meet certain obligations or breaches key terms. Typically, this clause outlines specific events or conditions that constitute default, such as failure to perform services, insolvency, or violation of laws, and may require a notice period or opportunity to remedy the default before termination is effective. Its core function is to protect the non-defaulting party by providing a clear mechanism to exit the agreement if the operator does not fulfill their responsibilities, thereby managing risk and ensuring accountability.
Termination for Operator Default. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Operator fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 15 (fifteen) days, the Operator shall be deemed to be in default of this Agreement (a “Operator Default”), unless the default has occurred solely as a result of any breach of this Agreement by DTTDC or due to Force Majeure event. The defaults referred to herein shall include: (a) the Performance Security has been partially or fully invoked and appropriated by the DTTDC as per the Agreement and the Operator fails to replenish or provide fresh Performance Security within a Cure Period of 15 (fifteen) days; (b) the Operator does not make payment to the DTTDC and remains in default for a period of more than 15 (fifteen) days from the due date of payment; (c) the Operator does not complete the furnishing and fixture etc.before the Schedule Commercial Operations Date and continues to be in default for 30 (thirty) days; (d) the Operator commits any particular/ similar default for four times, in the Project Facility, at any time during the currency of the Agreement Period; (e) the Operator abandons or manifests intention to abandon the Project without prior written consent of the DTTDC; (f) the Operator has failed to make any payment towards damages to any user or any utility within the period specified in this Agreement; (g) the Operator repudiates this Agreement or otherwise takes any action or evidences or conveys an intention not to be bound by the Agreement; (h) Change in management control of the Operator which according to the DTTDC may have Material Adverse Effect towards the completion of the Project; (i) an Escrow Default has occurred and the Concessionaire fails to cure the default within the Cure Period stated in Escrow Agreement; (j) the Operator is adjudged bankrupt or insolvent, or if a trustee or receiver is appointed for the Operator or for the whole or material part of its assets at any time before the Scheduled Commercial Operations Date; (k) the Operator has been, or is in the process of being liquidated, dissolved, wound-up, amalgamated or reconstituted in a manner that would cause, in the reasonable opinion of the DTTDC, a Material Adverse Effect; (l) a resolution for winding up of the Operator is passed, or any petition for winding up of the Operator is admitted by a court of...
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Termination for Operator Default. 17.1.1 Each of the following events or circumstances, to the extent not caused by a default of the Authority or Force Majeure shall be considered for the purposes of this Agreement as events of default of the Operator ("Operator Event of Default") which, if not remedied within the Cure Period set forth below, or where no Cure Period is specified, within ninety days, upon receipt of written notice from the Authority, shall provide to the Authority the right to terminate this Agreement in accordance with Article 17.1.2: a. The Operator fails to complete the Project CP Completion; b. The Operator abandons the operations of the Project for any period; c. Commercial operation of the Project does not occur within the period of 90 days from schedule Handover Date; d. The Operator creates any Encumbrance, charges or lien in favor of any person; e. Breach of any material obligation or covenant of this Agreement of the Operator; f. the Operator is adjudged bankrupt or insolvent or insolvency resolution professional has been appointed under the Insolvency and Bankruptcy Code 2016, or if a trustee or receiver is appointed for the Operator or for the whole or material part of its Project Assets that has a material bearing on the Project; g. a resolution for winding up of the Operator is passed, or any petition for winding up of the Operator is admitted by a court or tribunal and a provisional liquidator or receiver is appointed and such order has not been set aside or the Operator is ordered to be wound up by Court, except for the purpose of amalgamation or reconstruction which has been commenced or undertaken without prior written consent of the Authority; h. there is a transfer, pursuant to law either of (i) the rights and/or obligations of the Operator under any of the agreements related to the Project, or of (ii) all or part of the Project Assets or undertaking of the Operator, and such transfer causes a Material Adverse Effect; i. a resolution is passed by the shareholders of the Operator for the voluntary winding up of the Operator; j. the Operator repudiates this Agreement or otherwise evidences an intention not to be bound by this Agreement; k. the Operator suffers an execution being levied on any of its Project Assets/ equipment causing a Material Adverse Effect on the Project; l. the Operator has delayed any payment that has fallen due under this Agreement if such delay exceeds 90 days irrespective of whether the interest is payable on such delay or not; m. t...
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Termination for Operator Default. 25.1.1 Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Operator fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within 90 (ninety) days (except last year when cure period shall be 30 days), the Operator shall be deemed to be in default of this Agreement (the “Operator Default”), unless the default has occurred as a result of any breach of this Agreement by the Authority or due to Force Majeure. The defaults referred to herein shall include the following: (a) Customs Authorities initiates any proceedings for the revocation, withdrawal or suspension of any authorisation for the reason of any act or omission attributable to the Operator or denies the renewal of any authorisation due to Operators default; (b) the Performance Security has been encashed and appropriated in accordance with Article 9.2 and the Operator fails to replenish or provide fresh Performance Security within a Cure Period of 15 (fifteen) days; (c) subsequent to the replenishment or furnishing of fresh Performance Security in accordance with Article 9.2, the Operator fails to cure the Operator Default, as the case may be, for which whole or part of the Performance Security was appropriated, within a Cure Period of 90 (Ninety) days;
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Termination for Operator Default. (a) If this Agreement is terminated by the Service Provider under and in accordance with clause 24, the Service Provider shall within fourteen
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Related to Termination for Operator Default

  • 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.

  • SUSPENSION & TERMINATION FOR DEFAULT Enterprise Services may suspend Contractor’s operations under this Contract immediately by written cure notice of any default. Suspension shall continue until the default is remedied to Enterprise Services’ reasonable satisfaction; Provided, however, that, if after thirty (30) calendar days from such a suspension notice, Contractor remains in default, Enterprise Services may terminate Contractor’s rights under this Contract. All of Contractor’s obligations to Enterprise Services and Purchasers survive termination of Contractor’s rights under this Contract, until such obligations have been fulfilled.

  • Erroneous Termination for Default If, after notice of termination of Vendor’s right to proceed under the provisions of this clause, it is determined for any reason that the contract was not in default, or that the delay was excusable under the provisions of the prior paragraph (Excuse for Nonperformance or Delayed Performance), the rights and obligations of the parties shall be the same as if the notice of termination had been one of termination for convenience.