Specified Event of Default

Specified Event of Default. The acquisition by Orange Merger Corp. on October 17, 2005 of more than 35% of the aggregate voting power of all Equity Interests of the Borrower (the "Specified Event of Default").

Specified Event of Default. Means (i) an Event of Default under and as defined in the Master Agreement; (ii) an Event of Default under and as defined in the QSE Agreement; (iii) an Event of Default under the Assigned Agreements; (iv) the failure of Commerce Energy to perform, comply with or observe any term, covenant or obligation applicable to it under this Agreement with respect to its provision to TPS of any required report, statement, or information if such failure shall remain unremedied for fifteen (15) days after... written notice thereof shall have been given to Commerce Energy by TPS; or (v) the failure of Commerce Energy to perform, or comply with, or observe any other term, covenant or obligation applicable to it under this Agreement if such failure shall remain unremedied for three (3) Business Days after written notice thereof shall have been given to Commerce Energy by TPS. 3 View More

Specified Event of Default. The Event of Default which may arise under Section 9.1(c) of the Credit Agreement as a result of the Borrower's failure to satisfy Section 8.3(d) of the Credit Agreement with respect to the fiscal year ended May 31, 2007.