Authority Default definition

Authority Default shall have the meaning set forth in Clause 23.2;

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Authority Default shall have the meaning set forth in Clause 23.2; “Authority’s Engineer” shall have the meaning set forth in Clause 18.1;

Authority Default means any breach of the obligations of the Authority (including but not limited to any fundamental breach or breach of a fundamental term of this Framework Agreement) or any other default, act, omission, misrepresentation, negligence or negligent statement of the Authority in connection with or in relation to this Framework Agreement or the subject matter of this Framework Agreement and in respect of which the Authority is liable to the Supplier.

Examples of Authority Default in a sentence

• Notwithstanding anything contrary contained in this Agreement, if this Agreement is terminated, except for Authority Default or due to the Force Majeure, prior to achievement of the III (third) Project Milestone, the Authority shall have the right to encash the Additional Performance Security in addition to the Performance Security.

• In the event of Termination upon Authority Default or Termination under Force Majeure, subject to deduction of dues payable to the Authority including Damages and compensation, the Performance Security shall be returned within a period of 30 days from the Termination Date.

• The Contractor Termination Notice must specify the type of Authority Default which has occurred entitling the Contractor to terminate.

• DEFAULT 122 23.1 Authority Default 122 23.2 Initial Notice and Cure Periods 123 23.3 Right of Termination 123 ARTICLE 24.

• This Contract will terminate on the Day falling thirty (30) Business Days after the date the Authority receives the Termination Notice, unless the Authority rectifies the Authority Default within thirty (30) Business Days after receipt of the Termination Notice.

More Definitions of Authority Default

Authority Default means one of the following events:

Authority Default shall have the meaning set forth in Clause 23.2; “Authority’s Engineer” shall have the meaning set forth in Clause 18.1; “Authority Representative” means such person or persons as may be authorised in writingbytheAuthoritytoactonitsbehalfunderthisAgreementandshallincludeany person or persons having authority to exercise any rights or perform and fulfill any obligations of the Authority under thisAgreement; “Bank” means a bank incorporated in India and recognized by the Reserve Bank of India “Bank Rate” means the standard rate at which Reserve Bank of India is prepared to buy or re-discount bills of exchange or other commercial paper eligible for purchase under the Reserve Bank of India Act 1934. “Base Rate” means the floor rate of interest announced by the State Bank of India for all its lending operations; “Base Date” means the last date of the calendar month, which precedes the Bid Due Date by at least 28 (twenty eight) days; “Bid” means the documents in their entirety comprised in the bid submitted by the [selected bidder/ Joint venture] in response to the Request for Proposal in accordance with the provisions thereof; “Bid Security” means the bid security provided by the Contractor to the Authority in accordance with the Request for Proposal, and which is to remain in force until substituted by the Performance Security; “Change in Law” means the occurrence of any of the following after the Base Date: (a) the enactment of any new Indianlaw; (b) the repeal, modification or re-enactment of any existing Indianlaw; (c) the commencement of any Indian law which has not come into effect until the Contract AgreementPage 18 of 154 “Construction of Four Lane Panchgram Bypass from Design Chainage km 15+500 on NH-37 (Old NH-53) at Kalinagar Pt.-II Village to Design Chainage km 27+300 at crossing with NH-6 (Old NH-44) Near ▇▇▇▇▇▇▇▇▇ Pt.-I Village in the State of Assam on EPC Mode under ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ in Economic Corridors (Project Length – 11.8 km)” (4th Call) Mar 2023

Authority Default means any of the events of default by the Authority set out in Clause 12.6 (Authority Default);

Authority Default shall have the meaning set forth in Section 16.1(b) of this Agreement.

Authority Default has the meaning ascribed thereto in Section 16.2(a).

Authority Default means the event where the Authority has failed to cure or rectify a breach, committed by it, within the Cure Period granted in the Notice of Breach issued by the Concessionaire to the Authority. Events of Authority’s Default are provided in ARTICLE 25.

Authority Default means one of the following events: (a) an expropriation, sequestration or requisition of a material part of the assets and/or shares of the Contractor by the Authority or other Relevant Authority; (b) a failure by the Authority to make payment of the undisputed amounts that are due and payable by the Authority under this Contract where such amounts exceed the aggregate of the Contract Price payable by the Authority in respect of the previous two (2) Months, within thirty (30) Days after service of a formal written demand by the Contractor, where each such amount fell due and payable two (2) (or more) Months prior to the date of service of the written demand; (c) a breach by the Authority of its obligations under this Contract which substantially frustrates or renders it impossible for the Contractor to perform its obligations under this Contract for a continuous period of three (3) Months;