Event of Default

is defined in Section M8.1 (Events of Default).

Source: The Smart Energy Code (Section A)

M8.1 says An “Event of Default” shall have occurred in respect of any Party other than the DCC (the “Defaulting Party”) if one or more of the following occurs in respect of the Defaulting Party:
(a) the Defaulting Party has committed a material breach of Section I1.2 (User Obligations);
(b) the Defaulting Party has failed in a material respect to comply with an enforcement notice served by the Information Commissioner pursuant to the Data Protection Legislation, whether such failure has been notified to the Panel by the Information Commissioner or the Panel has otherwise become aware of such failure;
(c) the DCC has served a notice on the Defaulting Party in accordance with Section J2.1 (Notification of Payment Failure) in respect of Charges payable by the Defaulting Party, and such Charges have not been paid within three (3) Working Days following that notice;
(d) the DCC has issued a notice to the Defaulting Party in accordance with Section J3.14 (Breach of Credit Cover Obligations) in respect of Credit Support required to be procured by the Defaulting Party, and such Credit Support has not been provided within three (3) Working Days following that notice;
(e) the Defaulting Party has not paid any amount other than in respect of the Charges (failures in respect of which are subject to Section M8.1(c)) which the Defaulting Party is due to have paid under this Code, and does not remedy such failure within five (5) Working Days after a notice requiring it to do so (which notice must refer to this Section M8);
(f) the Defaulting Party has made a material misrepresentation in its Application Form;
(g) the Defaulting Party is in material breach of any of its material obligations under this Code and/or any Bilateral Agreement (other than those that are subject to another paragraph of this Section M8.1) and the Defaulting Party has failed to remedy the breach (or to desist from the breach and mitigate its effects insofar as it is reasonably practicable to do so) within 20 Working Days after a notice requiring it to do so (which notice must describe the breach in reasonable detail and refer to this Section M8); and/or
(h) the Defaulting Party suffers an Insolvency Type Event.

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