Defaulting Parties definition

Defaulting Parties means Calpine and each Calpine Transaction Party, in respect of Calpine Events of Default, and Bear Stearns and CalBear, in respect of Bear Stearns Events of Default.

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Defaulting Parties means a Party substantially breaching its obligation under the Contract and/or under the current Agreement - Background means Pre-existing know-how as defined in Annex II of the Contract, i.e. information owned by the Parties and resulting from their own activities prior to the conclusion of the Contract or acquired in parallel with it and necessary for carrying out the Project. - Foreground means Knowledge as defined in Annex II of the Contract, i.e. any results arising, including information, from the Project as well as from any other co-funded project.

Defaulting Parties has the meaning ascribed to such term in Section 3.1 hereof.

Examples of Defaulting Parties in a sentence

A Defaulting Party’s “Pro Rata Portion” for purposes of this Section 1.6(a) is a fraction, the numerator of which is the Investor Equity Commitment of such Defaulting Party and the denominator of which is the aggregate Investor Equity Commitments of all Defaulting Parties.
A Defaulting Party’s “Pro Rata Portion” for purposes of this Section 1.5(a) is a fraction, the numerator of which is the Investor Equity Commitment of such Defaulting Party and the denominator of which is the aggregate Investor Equity Commitments of all Defaulting Parties.
Defaulting Parties which must withdraw as a result of cancellation of the Collaboration Agreement, cf.
Defaulting Parties who must withdraw from the Project as a result of cancellation of the Collaboration Agreement, cf.
In the event that all parties are found to be Defaulting Parties, no party shall be entitled to court costs, attorney’s fees or litigation expenses.
A Defaulting Party’s “Pro Rata Portion” for the purposes of this Section 3.1 is a fraction, the numerator of which is such Defaulting Party’s Contemplated Ownership Percentage and the denominator of which is the aggregated Contemplated Ownership Percentage of all Defaulting Parties.
The obligations of the Defaulting Party and the rights of the Non Defaulting Parties shall survive the surrender of the Licence, abandonment of Joint Operations and termination of this Agreement.
Further, in the event the Non Defaulting Parties take up the Defaulted Interest in proportions other than the proportions in which during the period of default they delivered CO2 which but for the default would have been lifted by the Defaulting Party, fair and equitable adjustment shall be made between the Parties so that all such Non Defaulting Parties receive Storage Capacity or its value in the same proportions as they receive the Defaulted Interest.
If the Default subsists for sixty (60) days after the date of notification by Operator under Article 12.1(i) and the Defaulting Party continues to hold a Percentage Interest, then from the end of such sixty (60) day period, while the Default subsists, the Defaulting Party shall grant to Operator a perfected security interest against the Defaulting Parties accounts receivable, as necessary to insure payment to the Non-defaulting Parties.
A Defaulting Party’s “Pro Rata Portion” for purposes of this Section 1.8 is a fraction, the numerator of which is the Equity Commitment of such Defaulting Party and the denominator of which is the aggregate Equity Commitments of all Defaulting Parties.

More Definitions of Defaulting Parties

Defaulting Parties shall have the meaning set forth in Section 6.0.

Defaulting Parties has the meaning given to it in Clause 19.1.

Defaulting Parties has the meaning given in Clause 3.