Impact Event definition

Impact Event means any event specified as an Impact Event in Schedule A.
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Impact Event means (a) any rejection or termination of the Publishing Agreement or this Agreement by Author or its successors or representatives in breach of the provisions of the Publishing Agreement or this Agreement, including in all events any rejection or termination of the Publishing Agreement or any proposal to do so under Title 11 of the United States Code, as now constituted or hereafter amended (the "Bankruptcy Code"), or any other federal or state bankruptcy, insolvency, receivership, or similar law; (b) failure of a trustee, including Author as debtor in possession, in any bankruptcy case hereafter filed by or against Author either to assume the Publishing Agreement and this Agreement within fifteen (15) days after the filing of the initial bankruptcy petition or to perform the Publishing Agreement and this Agreement within the meaning of Section 365(a)(4)(I) of the Bankruptcy Code; (c) the termination of substantially all of Author's ongoing business operations relating to the subject matter of the Publishing Agreement and this Agreement; (d) any liquidation of Author, or any sale, assignment, or foreclosure of or upon assets that are necessary for the performance by Author of its responsibilities under the Publishing Agreement and this Agreement; and (e) any failure of Author to cure a breach by Author within the cure period specified in the Publishing Agreement.
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Impact Event means any of the following: (a) Licensor's admission in writing that it is unable to pay its debts generally as they become due; (b) Licensor's making of a general assignment for the benefit of creditors; (c) the commencement of foreclosure proceedings affecting the Software by any creditor of Licensor, which proceedings are not dismissed within sixty (60) days after service thereof on Licensor; (d) Licensor's consent to the filing of a petition of bankruptcy against it; (e) the filing of a petition of bankruptcy against Licensor that remains unstayed or is not dismissed within sixty (60) days after such filing; ------------------ -------------------------------------- -------------- ------- Effective: 5/1/00 OEM Alternans Product Specifications ▇▇-▇▇▇▇-▇▇▇ Page ------------------ -------------------------------------- -------------- ------- (f) the adjudication of Licensor as being bankrupt or insolvent by a court of competent jurisdiction; (g) any action by Licensor seeking reorganization under any bankruptcy act or law of debtor's moratorium or Licensor's consent to the filing of a petition seeking such reorganization; (h) the entry of a decree against Licensor by a court of competent jurisdiction appointing a receiver, liquidator, trustee, or assignee in bankruptcy or in insolvency covering all or substantially all of Licensor's property or providing for the liquidation of Licensor's property or business affairs; (i) the termination of substantially all of Licensor's on-going business operations relating to the Software; (j) any liquidation of Licensor, or involuntary sale; (k) cessation of business or of the maintenance or support of the Software by Licensor.
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Examples of Impact Event in a sentence

  • After the issuance of a Cost Impact Event Notice, the Requesting Party shall provide updates in writing to GDC every 30 calendar days or as reasonably necessary to keep the other Parties informed of the impacts of the Cost Impact Event, including in such updates, to the extent such information is available, estimates of the Cost Impacts that will result from the applicable Cost Impact Event.

  • Upon satisfaction by the Requesting Party of the terms and conditions in this subsection (c), the Parties shall use good faith efforts to agree on the Cost Impacts attributable to the Cost Impact Event.

  • If a Party disagrees with GDC’s determination with respect to the occurrence of a Cost Impact Event or the amount of Cost Impacts attributable to such event, the Parties shall resolve the dispute as described in Article XV.

  • Such Cost Impact Event Notice shall describe the Cost Impact Event and (to the extent such information is available at the time), the efforts of the Requesting Party and the applicable HTP Contractors, if any, that have been (or are going to be) undertaken by such party to overcome or mitigate the potential adverse effect on the cost for performance of the work from such Cost Impact Event.

  • However, Unscheduled Outages that are attributed to Customer negligence or Customer software failure are considered an Impact Event.

  • Service No. Updated Description of the Extreme Weather and Hazard Impact Event Services Tropical Cyclone Advices will be updated at following frequencies: • Containing watch only – 6 hourly • Containing warning – at least 3 hourly • Coastal Crossing – hourly within 6 hours of crossing for Cat-2 and above.

  • Notwithstanding any other provision under this Agreement, the Parties agree that they were aware of COVID-19 and that the existence of COVID-19 in itself shall not constitute a Force Majeure event save that a Change in COVID-19 Impact Event may be deemed to be a Force Majeure Event provided it satisfies the criteria set out in sub-paragraphs (g) to (k) (exclusive) of the definition of Force Majeure.

  • In the event Licensee becomes aware that Licensor has suffered an Impact Event as a result of notice from Licensor or otherwise Licensee may so notify the Escrow Agent in writing.

  • The deposit of the Source Code and the license thereof to LICENSEE are intended to provide assurance to LICENSEE of access to, and the right of use of, the Source Code in the event that LICENSOR fails (or is rendered unable by an Impact Event) to provide the Support Services it may be obligated to render under this Agreement.

  • If the Customer receives Source Materials, in accordance with either the Impact Event or Customization Event, Customer shall only use the Source Materials pursuant to the terms and conditions imposed by this Agreement.