Defaulting Party definition

Defaulting Party has the meaning specified in Section 6(a).

Defaulting Party. As defined in the Swap Agreement.

Defaulting Party has the meaning set forth in Section 9.1.

Examples of Defaulting Party in a sentence

• As soon as practicable after calculation of the Termination Payment, notice must be given by the Non-Defaulting Party to the Defaulting Party of the amount of the Termination Payment and whether the Termination Payment is due to or due from the Non-Defaulting Party.

• If the Defaulting Party disputes the Non-Defaulting Party’s calculation of the Default Damages or Termination Payment, in whole or in part, the Defaulting Party must, within three (3) Business Days of receipt of the Non-Defaulting Party’s calculation of the Default Damages or Termination Payment, provide to the Non-Defaulting Party a detailed written explanation of the basis for such dispute.

• As soon as practicable after calculation of a Termination Payment, notice shall be given by the Non-Defaulting Party to the Defaulting Party of the amount of the Termination Payment and whether the Termination Payment is due to or due from the Non-Defaulting Party.

• For avoidance of doubt, the Non-Defaulting Party shall not owe any amount as Settlement Amount to the Defaulting Party and payment of the Settlement Amount shall only be from the Defaulting Party to the Non-Defaulting Party.

• The Parties acknowledge that (a) the Non-Defaulting Party shall be damaged by the Defaulting Party, (b) it would be impracticable or extremely difficult to determine the actual damages resulting therefrom, (c) the remedies specified herein are fair and reasonable and do not constitute a penalty and (d) the remedies specified in Section 10.2 and Section 10.4 shall be the Non-Defaulting Party’s sole and exclusive remedy in the Event of Default.

More Definitions of Defaulting Party

Defaulting Party means the Party that is subject to an Event of Default.

Defaulting Party. Defaulting Party means a Party which the General Assembly has identified to be in breach of this Consortium Agreement and/or the Grant Agreement as specified in Section 4.2 of this Consortium Agreement.

Defaulting Party. As defined in Section 7.01(b).

Defaulting Party means the Party with respect to which a Default or Event of Default has occurred.

Defaulting Party is defined in Section 5.1.

Defaulting Party has the meaning given to it in the definition of Event of Default.

Defaulting Party shall have the meaning assigned thereto in Section 7.01(b).