Common use of Contents of Termination Notice Clause in Contracts

Contents of Termination Notice. A Termination Notice shall specify: (a) the nature of the relevant Event of Default; (b) the date and time at which termination is to take effect, which shall not be earlier than the later of 30 days after such notice is given and the expiry of any grace period under Clause 5.4.3(c)(ii); (c) where the relevant Event of Default is capable of remedy: (i) the steps reasonably required to remedy the Event of Default; and (ii) a reasonable grace period within which such steps may be taken (and where the Event of Default is a failure of the Beneficiary to pay the Access Charge, seven days shall be a reasonable grace period).

Contents of Termination Notice. ‌ A Termination Notice shall specify: (a) the nature of the relevant Event of Default; (b) the date and time at which termination is to take effect, which shall not be earlier than the later of 30 days after such notice is given and the expiry of any grace period under Clause 5.4.3(c)(ii); (c) where the relevant Event of Default is capable of remedy: (i) the steps reasonably required to remedy the Event of Default; and (ii) a reasonable grace period within which such steps may be taken (and where the Event of Default is a failure of the Beneficiary to pay the Access Charge, seven days shall be a reasonable grace period).

Contents of Termination Notice. A Termination Notice shall specify: (a) the nature of the relevant Event of DefaultDefault or other matter entitling termination under Clause 7.4.1 or 7.4.2 as the case may be; (b) the date and time at which termination is to take effect, which in the case of a notice under Clause 7.4.1(d) or Clause 7.4.2(c) shall not be earlier than 6 months after such notice is given and in the case of any other notice shall not be earlier than the later of 30 days after such notice is given and the expiry of any relevant grace period under Clause 5.4.3(c)(ii7.4.3(c)(ii);; and (c) where the relevant Event of Default is capable of remedy: (i) the steps reasonably required to remedy the Event of Default; and (ii) a reasonable grace period within which such steps may be taken (and where the Event of Default is a failure of the Beneficiary to pay the Access Charge, seven days shall be a reasonable grace periodperiod unless otherwise agreed).