Common use of Occurrence of Default Clause in Contracts

Occurrence of Default. Upon the occurrence of a default by a party, the other party may exercise any right or remedy it may have at law and/or in equity; provided that Transporter shall not be entitled to terminate this Agreement. If pursuant to an arbitration proceeding conducted in accordance with Section 14.9, it is determined that as a result of a Shipper default Transporter has suffered a specified amount of damages, the arbitrators may provided as a remedy to Transporter that Transporter may sell a portion of Shipper's carbon dioxide necessary to generate sufficient proceeds to reimburse Transporter for such damages.

Occurrence of Default. Upon the occurrence of a default by a party, the other party may exercise any right or remedy it may have at law and/or in equity; provided that Transporter shall not be entitled to terminate this Agreement. If pursuant to an arbitration proceeding conducted in accordance with Section 14.9, it is determined that as a result of a Shipper default Transporter has suffered a specified amount of damages, the arbitrators may provided as a remedy to Transporter that Transporter may sell a portion of Shipper's ’s carbon dioxide necessary to generate sufficient proceeds to reimburse Transporter for such damages.

Occurrence of Default. Upon the occurrence of a default by a party, the other party may exercise any right or remedy it may have at law and/or in equity; provided that Transporter shall not be entitled to terminate this Agreement. If pursuant to an arbitration proceeding conducted in accordance with Section 14.9, it is determined that as a result of a Shipper default Transporter has suffered a specified amount of damages, the arbitrators may provided provide as a remedy to Transporter that Transporter may sell a portion of Shipper's carbon dioxide necessary to generate sufficient proceeds to reimburse Transporter for such damages.