Contents of Termination Notice. A Termination Notice shall specify: the nature of the relevant Event of Default; a date and time, which shall be reasonable in the circumstances, at which termination is to take effect; and whether the party serving the Termination Notice reasonably considers that the Event of Default is capable of remedy, and where the relevant Event of Default is capable of remedy: the steps which the party serving the Termination Notice believes are reasonably required to remedy the Event of Default; and a reasonable grace period within which such steps may be taken (where the Event of Default is a failure of the Train Operator to pay Track Charges or other amounts due, 7 days is a reasonable grace period).
Appears in 8 contracts
Samples: www.orr.gov.uk, www.orr.gov.uk, Track Access Agreement
Contents of Termination Notice. A Termination Notice shall specify: the nature of the relevant Event of Default; a date and time, which shall be reasonable in the circumstances, at which termination is to take effect; and whether the party serving the Termination Notice reasonably considers that the Event of Default is capable of remedy, and where the relevant Event of Default is capable of remedy: the steps which the party serving the Termination Notice believes are reasonably required to remedy the Event of Default; and a reasonable grace period within which such steps may be taken (where the Event of Default is a failure of the Train Operator to pay Track Charges or other amounts due, 7 seven days is a reasonable grace period).
Appears in 4 contracts
Samples: www.orr.gov.uk, www.orr.gov.uk, tfwrail.wales
Contents of Termination Notice. A Termination Notice shall specify: the nature of the relevant Event of Default; a the date and time, which shall be reasonable in the circumstances, at which termination is to take effect; and whether the party serving the Termination Notice reasonably considers that the Event of Default is capable of remedy, and where the relevant Event of Default is capable of remedy: the steps which the party serving the Termination Notice believes are reasonably required to remedy the Event of Default; and a reasonable grace period within which such steps may for it to be taken remedied (where the Event of Default is a failure of the Train Operator to pay Track Charges Charges, or other amounts due, 7 seven days is a reasonable grace period).
Appears in 2 contracts
Samples: Track Access Agreement, tfwrail.wales