Common use of Termination for Operator Default Clause in Contracts

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;