Common use of Contents of a Suspension Notice Clause in Contracts

Contents of a Suspension Notice. A Suspension Notice shall specify: (a) the nature of the relevant Event of Default; (b) the date and time at which suspension is to take effect; (c) in the case of a Suspension Notice served on the Beneficiary, reasonable restrictions imposed on the grant to the Beneficiary and its Associates of permission to use the Depot and the provision of the Beneficiary Depot Services while the Suspension Notice is in force; (d) in the case of a Suspension Notice served on the Depot Facility Owner, details of any suspension of the grant to the Beneficiary of the permission to use the Depot and of the provision of the Beneficiary Depot Services while the Suspension Notice is in force; (e) the steps reasonably required to remedy the relevant Event of Default; and (f) a reasonable grace period for the defaulting party to remedy it (and where the relevant Event of Default is a failure to pay any part of the Access Charge, seven days shall be a reasonable grace period unless otherwise agreed).