TERMINATION ON ACCOUNT OF HPSEBL EVENT OF DEFAULT Sample Clauses

TERMINATION ON ACCOUNT OF HPSEBL EVENT OF DEFAULT. If the Agreement is terminated in accordance with Section 10.6 on account of HPSEBL's Event of Default as per Section 10.4, the Company shall have the option to enter into a power sale agreement with any other utility. For this purpose, the Company shall be entitled to sell power to any person to the extent permitted by Law at the rates agreed by the Company and such person. Electrical power shall be wheeled through the transmission system of the HPSEBL or other utilities on payment of wheeling charges. The term of such agreement for sale of power shall not, in any case, exceed the balance term of the Agreement.
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TERMINATION ON ACCOUNT OF HPSEBL EVENT OF DEFAULT. If the Agreement is terminated in accordance with Section 10.6 on account of HPSEBL's Event of Default as per Section 10.4, the Company shall have the option to enter into a power sale agreement with any other utility ensuring, however, Govt. Supply to the HPSEBL. For this purpose, the Company shall be entitled to sell power to any person to the extent permitted by Law at the rates agreed by the Company and such person. Electrical power shall be wheeled through the transmission system of the HPSEBL or other utilities on payment of wheeling charges. The term of such agreement for sale of power shall not, in any case, exceed the balance term of the Agreement.
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TERMINATION ON ACCOUNT OF HPSEBL EVENT OF DEFAULT. If the Agreement is terminated in accordance with Clause 10.6 on account of HPSEBL's Event of Default as per Clause 10.4, the Company shall have the option to enter into a power sale agreement with any other utility ensuring, however, Govt. Supply to the HPSEBL and safeguarding all interest of the HPSEBL in line with the agreed terms and condition as per article 10 of this agreement. For this purpose, the Company shall be entitled to sell power to any other electricity HPSEBL/utility or consumers to the extent permitted by Law at the rates agreed by the Company and the respective electricity HPSEBL/utility/consumer. Electrical power shall be wheeled through the distribution system of the HPSEBL or other utilities on payment of wheeling charges as determined by the Commission from time to time. The term of such agreement for sale of power shall not, in any case, exceed the balance term of the Agreement.
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Related to TERMINATION ON ACCOUNT OF HPSEBL EVENT OF DEFAULT

  • Termination on Material Default 30.2.1 The Authority may terminate this Framework Agreement for material Default by issuing a Termination Notice to the Supplier where:

  • Termination due to Event of Default (a) Termination due to Parties Event of Default

  • H2 Termination on Default H2.1 The Authority may terminate the Contract by written notice in accordance with clause A5.2 (Notices) to the Contractor with immediate effect if the Contractor commits a Default and if:

  • Termination on Default The Authority may terminate this Framework Agreement by serving written notice on the Supplier with effect from the date specified in such notice where the Supplier commits a Material Default and if:

  • Developer Event of Default Any of the following events shall constitute an event of default by the Developer ("Developer Event of Default") unless such event has occurred as a result of a Force Majeure Event or the Authority Event of Default or any governmental action for reasons other than any breach, default or lapse on the part of the Developer:

  • Termination of Default An Event of Default shall be deemed to have been terminated upon the earliest to occur of:

  • Default Events and Termination 18.1 Each of the following circumstances shall constitute a General Default:

  • Additional Event of Suspension Section 4.01. Pursuant to Section 6.02 (l) of the General Conditions, the following additional event is specified, namely, that a situation has arisen which shall make it improbable that the Program, or a significant part thereof, will be carried out.

  • Termination on Change of Control and Insolvency 36.1 The Authority may terminate the Contract with immediate effect by notice in writing where the Contractor is a company and in respect of the Contractor: -

  • Certification of Funds; Budget and Fiscal Provisions; Termination in the Event of Non-Appropriation This Agreement is subject to the budget and fiscal provisions of the City’s Charter. Charges will accrue only after prior written authorization certified by the Controller, and the amount of City’s obligation hereunder shall not at any time exceed the amount certified for the purpose and period stated in such advance authorization. This Agreement will terminate without penalty, liability or expense of any kind to City at the end of any fiscal year if funds are not appropriated for the next succeeding fiscal year. If funds are appropriated for a portion of the fiscal year, this Agreement will terminate, without penalty, liability or expense of any kind at the end of the term for which funds are appropriated. City has no obligation to make appropriations for this Agreement in lieu of appropriations for new or other agreements. City budget decisions are subject to the discretion of the Mayor and the Board of Supervisors. Contractor’s assumption of risk of possible non-appropriation is part of the consideration for this Agreement. THIS SECTION CONTROLS AGAINST ANY AND ALL OTHER PROVISIONS OF THIS AGREEMENT.

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