Innocent Party means, in relation to a breach of an obligation under this contract, the party who is not in breach of that obligation; "Insolvency Event", in relation to either of the parties, has occurred where:
Innocent Party means, in relation to a breach of an obligation under this contract, the party who is not in breach of that obligation; "Insolvency Event", in relation to either of the parties, has occurred where: any step which has a reasonable prospect of success is taken by any person with a view to its administration under Part II of the Insolvency Xxx 0000; it stops or suspends or threatens to stop or suspend payment of all or a material part of its debts, or is unable to pay its debts, or is deemed unable to pay its debts under section 123(1) or (2) of the Insolvency Xxx 0000, except that in the interpretation of this paragraph: not used it shall not be deemed to be unable to pay its debts for the purposes of this paragraph if any such demand as is mentioned in section 123(1)(a) of the Insolvency Xxx 0000 is satisfied before the expiry of 21 days from such demand; its directors make any proposal under section 1 of the Insolvency Xxx 0000, or it makes any agreement for the deferral, rescheduling or other readjustment (or makes a general assignment or an arrangement or composition with or for the benefit of the relevant creditors) of all or a material part of its debts, or a moratorium is agreed or declared in respect of or affecting all or a material part of its debts; any step is taken to enforce security over or a distress, execution or other similar process is levied or sued out against the whole or a substantial part of its assets or undertaking, including the appointment of a receiver, administrative receiver, manager or similar person to enforce that security; any step is taken by any person with a view to its winding up or any person presents a winding-up petition which is not dismissed within 14 days, or it ceases or threatens to cease to carry on all or a material part of its business, except for the purpose of and followed by a reconstruction, amalgamation, reorganisation, merger or consolidation on terms approved by the other party before that step is taken (which approval shall not be unreasonably withheld or delayed); or any event occurs which, under the law of any relevant jurisdiction, has an analogous or equivalent effect to any of the events listed above, unless: in any case, a railway administration order (or application for such order) has been made or such order (or application) is made within 14 days after the occurrence of such step, event, proposal or action (as the case may be) in relation to the party in question under section 60, 61 or 62 of...
Examples of Innocent Party in a sentence
In relation to any breach of this contract, the party in breach shall indemnify the Innocent Party against all Relevant Losses.
More Definitions of Innocent Party
Innocent Party means, in relation to a breach of an obligation under the Contract, the party who is not in breach of that obligation;
Innocent Party has the meaning given to it in Clause 23.2;
Innocent Party means, in relation to a breach of an obligation under this Access Option, the Party who is not in breach of that obligation;
Innocent Party means, in relation to a breach of an obligation under this Contract, the party who is not in breach of that obligation; "Insolvency Event" in relation to either of the parties, has occurred where: (a) any step which has a reasonable prospect of success is taken by any person with a view to its administration under Part II of the Insolvency Xxx 0000; (b) it stops or suspends or threatens to stop or suspend payment of all or a material part of its debts, or is unable to pay its debts, or is deemed unable to pay its debts under section 123(1) or (2) of the Insolvency Xxx 0000, except that in the interpretation of this paragraph: (i) section 123(1)(a) of the Insolvency Xxx 0000 shall have effect as if for "£750" there were substituted "£100,000" or such higher figure as the parties may agree in writing from time to time; and (ii) it shall not be deemed to be unable to pay its debts for the purposes of this paragraph if any such demand as is mentioned in section 123(1)(a) of the Insolvency Xxx 0000 is satisfied before the expiry of 21 days from such demand;
Innocent Party has the meaning ascribed to it in Section 12.
Innocent Party has the meaning given in Section 30.2(a).
Innocent Party has the meaning given in Clause 9.4(a).