What constitutes an Event of Default under the Agreement?

An Event of Default under the Agreement is defined as a failure to perform any term or condition of the Agreement. This broad definition encompasses various potential breaches of contract, including failing to fulfill obligations, not meeting timelines, or any other form of non-compliance with the stipulations outlined in the Agreement. It emphasizes the importance of adhering to all terms, whether they pertain to performance standards, delivery of services, or financial responsibilities.

This inclusive definition is crucial because it ensures that any lapse in fulfilling the terms laid out in the Agreement can be categorized as an Event of Default, leading to necessary remedies or enforcement actions. It reflects a comprehensive approach to contract enforcement, making it clear that adherence to all elements of the Agreement is required for maintaining compliance.