Termination by Maha-Metro for Concessionaire Default Sample Clauses

Termination by Maha-Metro for Concessionaire Default. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Concessionaire fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Concessionaire shall be deemed to be in default of this Agreement (the “Concessionaire Default”), unless the default has occurred solely due to Force Majeure. The defaults referred to herein shall include:
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Termination by Maha-Metro for Concessionaire Default. Save as otherwise provided in this Agreement, in the event that any of the defaults specified below shall have occurred, and the Concessionaire fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Concessionaire shall be deemed to be in default of this Agreement (the “Concessionaire Default”), unless the default has occurred solely due to Force Majeure. The defaults referred to herein shall include: the Performance Security and/or Security Deposit has been encashed and appropriated in accordance with Clause 9.3 and the Concessionaire fails to replenish or provide fresh Performance Security and/or Security Deposit within a Cure Period of 30 (thirty) days; subsequent to the replenishment or furnishing of fresh Performance Security and/or Security Deposit in accordance with Clause 9.3, the Concessionaire fails to cure, within a Cure Period of 90 (ninety) days, the Concessionaire Default for which whole or part of the Performance Security and/or Security Deposit was appropriated; the Concessionaire has made default in payment of Annual Concession Fee for 06 (six) times during the entire Concession Period; the Concessionaire has made default in payment of Annual Concession Fee for consecutive 4 (Four) times during the entire Concession Period; the Concessionaire abandons or manifests intention to abandon the construction or operation of the Project without the prior written consent of Maha-Metro; Project Completion Date does not occur within the period specified in Clause 12.4.3; the Concessionaire is in breach of the Safety Requirements as required for the operation and maintenance of the Project; the Concessionaire has failed to make any payment to Maha-Metro within the period specified in this Agreement and remains in default for a period of 90 (ninety) days from the due date of payment; upon occurrence of a Financial Default, the Concessionaire fails to cure the default within the Cure Period specified hereinabove;
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Related to Termination by Maha-Metro for Concessionaire Default

  • Compensation for default by the Concessionaire Subject to the provisions of Clause 35.6, in the event of the Concessionaire being in material default or breach of this Agreement, it shall pay to the Authority by way of compensation, all direct costs suffered or incurred by the Authority as a consequence of such material default or breach, within 30 (thirty) days of receipt of the demand supported by necessary particulars thereof; provided that no compensation shall be payable under this Clause 35.1 for any material breach or default in respect of which Damages are expressly specified and payable under this Agreement.

  • Termination by ICANN (a) ICANN may, upon notice to Registry Operator, terminate this Agreement if: (i) Registry Operator fails to cure (A) any fundamental and material breach of Registry Operator’s representations and warranties set forth in Article 1 or covenants set forth in Article 2, or (B) any breach of Registry Operator’s payment obligations set forth in Article 6 of this Agreement, each within thirty (30) calendar days after ICANN gives Registry Operator notice of such breach, which notice will include with specificity the details of the alleged breach, (ii) an arbitrator or court of competent jurisdiction has finally determined that Registry Operator is in fundamental and material breach of such covenant(s) or in breach of its payment obligations, and (iii) Registry Operator fails to comply with such determination and cure such breach within ten (10) calendar days or such other time period as may be determined by the arbitrator or court of competent jurisdiction.

  • Suspension upon Concessionaire Default Upon occurrence of a Concessionaire Default, the Authority shall be entitled, without prejudice to its other rights and remedies under this Agreement including its rights of Termination hereunder, to (i) suspend all rights of the Concessionaire under this Agreement including the Concessionaire's right to collect charge(s), and other revenues pursuant hereto, and (ii) exercise such rights itself and perform the obligations hereunder or authorise any other person to exercise or perform the same on its behalf during such suspension (the "Suspension"). Suspension hereunder shall be effective forthwith upon issue of notice by the Authority to the Concessionaire and may extend up to a period not exceeding 180 (one hundred and eighty) days from the date of issue of such notice; provided that upon written request from the Concessionaire and the Lenders’ Representative, the Authority shall extend the aforesaid period of 180 (one hundred and eighty) days by a further period not exceeding 90 (ninety) days.

  • Termination by Seller This Agreement may be terminated at any time prior to the Closing by Seller, by written notice to Buyer:

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