Material Default definition

Material Default means a material breach of this Framework Agreement and/or, breach by the Supplier of any of the following Clauses: Clause 8 (Warranties and Representations), Clause 9 (Prevention of Bribery and Corruption), Clause 13 (Statutory Requirements and Standards), Clause 14 (Non-Discrimination), Clause 15 (Provision of Management Information), Clause 16 (Management Charge), Clause 17 (Records and Audit Access), Clause 22 (Data Protection), Clause 23 (Freedom of Information) and Clause 31 (Transfer & Sub-contracting);

Material Default means any default by the private entity in the performance of its duties under

Material Default means any default by the private entity in the performance of its duties that jeopardizes adequate service to the public from a qualifying project.

Examples of Material Default in a sentence

• The Purchasers shall use reasonable best efforts to mitigate the adverse consequences on the Sellers of the Material Default until the Correction Action Plan is finalized.

• In the case of a Material Default that causes continuing damages to the Sellers for which indemnification by the Purchasers pursuant to Article 8 of the Agreement would not be sufficient to remedy all such damages, the Sellers and the Purchasers shall cooperate in good faith to implement appropriate interim actions to mitigate such damages until the Corrective Action Plan is finalized.

• At its sole discretion the Authority has the right to terminate this Framework Agreement pursuant to Clause 26 (Termination) in the event that a Consistent Failure or a Material Default occurs.

• If Debtor fails within 30 days after the date of service of the notice of default either: (i) to cure the default; (ii) to obtain from the court an extension of time to cure the default; or (iii) to obtain from the court a determination that no default occurred, then Debtor is in Material Default under the Plan to all the members of the affected class.

• Upon Material Default, any member of a class affected by the default: (i) may file and serve a motion to dismiss the case or to convert the case to Chapter 7; or (ii) without further order of the court has relief from stay to the extent necessary, and may pursue its lawful remedies to enforce and collect Debtor’s pre-confirmation obligations.

More Definitions of Material Default

Material Default means any breach of a fundamental or essential term or repeated breaches of any of the terms of the agreements, as referred to in section 3.4(e);

Material Default means any default by the operator in the performance of its duties under

Material Default means any breach of these terms and conditions or of the Contract by the Contractor which the Authority considers to be sufficiently material as to justify termination of all or part of the Contract. A breach of any of the following of these terms and conditions by the Contractor shall be a Material Default: clause 2.1 (contractor’s warranties), clause 3.2 (contractor’s personnel), clause 7.6.3 (security of electronic data) clause 8.2 (confidentiality) clause 15 (contractor’s insurance requirements); clause 16.1 (prevention of corruption) clause 17 (official secrets), clause 19 (non discrimination and equality) and clause 22 (health and safety);

Material Default means any default by the private entity in the performance of its duties under subsection E of § 56-575.8 that jeopardizes adequate service to the public from a qualifying project.

Material Default means any breach of Clause 5.17 (Statutory Requirements), Clause 6 (Non-Discrimination), Clause 7 (Provision of Management Information), Clause 7.5 (Management Charge), Clause 7.12 (Records and Audit Access), Clause 7.41 (Data Protection) and Clause 7.45 (Freedom of Information);

Material Default means any continuing Default as to which a written notice of such Default (which notice has not been rescinded) shall have been received by the Borrower, the General Partner or the REIT from the Administrative Agent or any Lender, or any continuing Event of Default.

Material Default means, with respect to either party, a breach of any material term, condition, covenant or obligation of this Agreement that is so material and continuing that it has the effect of abrogating such party's performance and the other party's enjoyment of the benefits under this Agreement taken as a whole, including an uncured breach by a Qwest Party of Section 2.2(a).