ADLC Default. In the event that ADLC materially fails to perform any duty or obligation required of ADLC during the term of this Agreement, then AR may at any time provide ADLC with a written notice that identifies the material failure and requests that the material failure be corrected or cured. Upon receipt of a notice of default from AR, ADLC shall correct or cure the identified material failure within thirty (30) days, or such longer period reasonably required by ADLC and agreed to in writing by AR, which agreement shall not be unreasonably withheld. If ADLC does not correct the identified material failure within the time allowed under the preceding sentence, an ADLC Default shall occur and AR shall have the right to proceed in accordance the terms of Section 10.3. If ADLC disputes the occurrence of an alleged ADLC Default, ADLC shall provide written notice of the dispute to AR within fourteen (14) days of receipt of any written notice of material default from AR pursuant to this Section 10.1. If the occurrence of the Default is so disputed by ADLC, AR and ADLC shall proceed with dispute resolution pursuant to Section 10.5 and Section 10.6.
ADLC Default. In the event of an ADLC Default other than one that relates to ADLC’s residential attic remediation schedule requirements under Section 4.2, AR may elect to terminate this Agreement in whole by providing ADLC with the AR election of remedies notice required pursuant to Section 10.3. If the occurrence of the ADLC Default is disputed by ADLC pursuant to Section 10.3, the effective date for the termination shall be delayed unless and until the Parties resolve the dispute pursuant to Section 10.5 or a final decision by the arbitrator is issued pursuant to Section 10.6 that contains specific findings of fact confirming the occurrence of the ADLC Default. Except as provided in Section 8.3, Section 9.3, and Section 10.10, if this Agreement is terminated in whole by AR pursuant to this Section 10.8.1, all of the Parties’ respective rights and obligations under this Agreement shall cease as of the effective date of termination, and all amounts then remaining in the Funding Accounts which are not necessary to satisfy obligations properly incurred by ADLC prior to the final effective date of the termination, including all accrued interest and income earned thereon, shall be returned by ADLC to AR within thirty (30) days of the effective date of the termination.
ADLC Default. In the event that ADLC materially fails to perform any duty or obligation that it is required to perform under this Agreement during the Term of this Agreement, then AR may at any time provide ADLC with a written notice that identifies that material failure and requests that the material failure be corrected. Upon receipt of a notice of default from AR, ADLC shall correct the identified material failure within thirty (30) days, unless a longer period of time is reasonably needed to correct the material failure and ADLC begins corrective action within thirty (30) days or a longer period of time is agreed to by ADLC and AR in writing, and ADLC diligently pursues the corrective action to completion. In the event ADLC does not correct the identified material failures within the time allowed under the preceding sentence, an ADLC Default shall occur and AR shall have the right to proceed in accordance the terms of Section 8.3 hereof.
ADLC Default. Subject to the post-termination/expiration rights and obligations of AR and ADLC under Article X hereof, in the event an ADLC Default occurs during the Term of this Agreement, AR shall have the right to elect to terminate this Agreement by providing ADLC with the AR election of remedies notice required pursuant to Section 8.3 hereof, which shall include an effective date for the termination which shall be at least sixty (60) or more days after the election notice is transmitted to ADLC. In the event the occurrence of the ADLC Default is disputed by ADLC pursuant to Section 8.3 hereof, the termination date shall be delayed unless and until a final decision by the arbitrator is issued that contains specific findings of fact which confirm the occurrence of the ADLC Default.
