Step-In Rights definition

Step-In Rights means the right of one party to assume an intervening position to satisfy all terms of an agreement in the event the other party fails to perform its obligations under the agreement.

Step-In Rights means the step in rights, if any, referred to in the Key Provisions;

Step-In Rights shall have the meaning set forth in Section 12.5.

Examples of Step-In Rights in a sentence

• For greater certainty and without limiting the generality of the foregoing, nothing in this Agreement will limit, and the Authority will be entitled at all times in accordance with the provisions thereof to exercise the Authority’s rights under Section 11.1(a) (Authority’s Step-in Rights) of the Project Agreement and the related exercise of its rights under Section 11.2 (Authority’s Rectification Rights) of the Project Agreement.

• The Person shall only exercise such Step-in Rights under this Article if it has the skills and means to carry out the work necessary to remedy the Event of Default or Emergency in accordance with the laws of the United Republic of Tanzania and Good Utility Practice.

• Subject to the Supplier complying with its obligations under this SC22, if the Customer has exercised its Step-in Rights, to the extent the Customer has taken actions or failed to take actions that impede the performance of the Supplier under this Deed, the Supplier will not be held responsible for that failure to perform.

• MSD Step-in Rights MSD has Step-in Rights as set out in Schedule 3.

• T E M P L A T E MSD is not obliged to exercise Step-in Rights if the Provider is in breach of a Contract Document or some other trigger event has occurred.

More Definitions of Step-In Rights

Step-In Rights means PacifiCorp’s rights under Section 11.8.

Step-In Rights. Has the meaning set out in paragraph 4.1.6.4.

Step-In Rights means the rights of the Debenture Trustee, without prejudice to any other rights or remedies available to the Debenture Trustee and the Debenture Holders under Applicable Law or under the Debenture Documents, and without being required to exercise or exhaust such rights or remedies, to enter upon and takeover the Project/Project sites and to take all such steps as are necessary for the continued operation and maintenance of the Project, including in relation to the debt servicing obligations of the Issuer in respect of its secured debt.

Step-In Rights is defined in Section 8.4.2.

Step-In Rights means the rights exercisable by the Operator pursuant to clause 12.

Step-In Rights has the meaning given in Clause 4.5 and 6.3.

Step-In Rights means the rights of a Step-in Party to exercise the powers under Clause 29, referred to in Clause 29.1.