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 7 contracts
Samples: Track Access Contract, Track Access Contract, Track Access Contract
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 3 contracts
Samples: Track Access Contract, Track Access Contract (Passenger Services), Track Access Contract
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: Unregulated Track Access Agreement, Unregulated Track Access Agreement
Contents of Termination Notice. A Termination Notice shall specify: :
(A) the nature of the relevant Event of Default; a ;
(B) the date and time, which shall be reasonable in the circumstances, at which termination is to take effect; and and
(C) 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: :
(1) the steps which the party serving the Termination Notice believes are reasonably required to remedy the Event of Default; and and
(2) 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 1 contract
Samples: Unregulated Track Access Agreement