Common use of DEMANDS AND NOTICE Clause in Contracts

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if Enron fails or refuses to pay any Obligations and Counterparty has elected to exercise its rights under this Guaranty, Counterparty shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if Enron Counterparty fails or refuses to pay any Obligations and Counterparty Enron has elected to exercise its rights under this Guaranty, Counterparty Enron shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron Counterparty has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty Enron is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron Counterparty or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, as may be defined in any Contract, if Enron fails or refuses to pay any Obligations and Counterparty has elected to exercise its rights under this Guaranty, Counterparty shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. As used herein, the term “Business Day” shall mean a day on which commercial banks or financial institutions are open for business in Houston, Texas and New York, New York.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if Enron If Company fails or refuses to pay any Obligations Obligations, whether or not such obligations are the subject of a bona fide dispute pursuant to the underlying Contract, Agency shall notify Company in writing of the manner in which Company has failed to pay and Counterparty demand that payment be made by Company. If Company’s failure or refusal to pay continues for a period of fifteen (15) days after the date of Agency’s notice to Company, and Agency has elected to exercise its rights under this Guaranty, Counterparty Agency shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably contain a copy of Agency’s demand that payment be made by Company and briefly specify in what manner and what amount Enron has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty Agency is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment DemandObligations. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron Company or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. The Guarantor shall not be required to make any inquiry, inspection or investigation in connection therewith.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination EventEvent (as defined in the Master Agreement), if Enron fails or refuses to pay any Obligations and Counterparty has elected to exercise its rights under this Guaranty, Counterparty shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five three (53) Local Business Days (as defined in the Master Agreement) after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if Enron If ENA fails or refuses to pay any Obligations Obligations, Counterparty shall notify ENA in writing of the manner in which ENA has failed to pay and demand that payment be made by ENA. If ENA's failure or refusal to pay continues for a period of fifteen (15) days after the date of Counterparty's notice to ENA, and Counterparty has elected to exercise its rights under this Guaranty, Counterparty shall make a demand upon Guarantor (hereinafter referred to as a “"Payment Demand”"). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron ENA has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment DemandObligations. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron ENA or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if Enron Counterparty fails or refuses to pay any Obligations and Counterparty Enron has elected to exercise its rights under this Guaranty, Counterparty Enron shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron Counterparty has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty Enron is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron Counterparty or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if Enron fails or refuses to pay any Obligations and Counterparty has elected to exercise its rights under this Guaranty, Counterparty shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five three (535) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if Enron If ECT fails or refuses to timely pay any Obligations and Counterparty has elected to exercise its rights under this GuarantyObligations, Counterparty shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron ECT has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment DemandObligations. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron ECT or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured. Upon receipt of the Payment Demand, Guarantor shall make the required payment to Counterparty.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if Enron Counterparty fails or refuses to pay any Obligations and Counterparty Xxxxx has elected to exercise its rights under this Guaranty, Counterparty Enron shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron Counterparty has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty Enron is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron Counterparty or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon To the occurrence and during the continuance of an Event of Default or Termination Event, if Enron extent Company fails or refuses to pay any Obligations when due and Counterparty Beneficiary has elected to exercise its rights under this GuarantyGuarantee, Counterparty Beneficiary shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron Company has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty Beneficiary is calling upon Guarantor to pay under this GuarantyGuarantee. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days (as defined in the Contract) after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron Company or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination EventDefault, if Enron Counterparty fails or refuses to pay any Obligations and Counterparty Enron has elected to exercise its rights under this Guaranty, Counterparty Enron shall make a demand upon Guarantor (hereinafter referred to as a “"Payment Demand”"). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron Counterparty has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty Enron is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron Counterparty or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if Enron fails or refuses to immediately pay any Obligations and Counterparty has elected to exercise its rights under this Guaranty, Counterparty shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron has failed to immediately pay and an explanation of why such payment is due, with a specific statement that Counterparty is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to immediately pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five three (553) Business five (5)Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event event of Default or Termination Eventdefault under the Contract, if Enron NewPower fails or refuses to pay any Obligations and Counterparty Enron has elected to exercise its rights under this Guaranty, Counterparty Enron shall make a demand upon Guarantor (hereinafter referred to as a “"Payment Demand”"). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron NewPower has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty Enron is calling upon Guarantor to pay such amount under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required obligated to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days (as defined in the Netting Agreement) after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron NewPower or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if If Enron fails or refuses to pay any Obligations and Counterparty has elected to exercise its rights under this Guaranty, Counterparty shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination Event, if Enron fails or refuses to pay any Obligations and Counterparty has elected to exercise its rights under this Guaranty, Counterparty shall make a demand upon Guarantor (hereinafter referred to as a “Payment Demand”). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.

DEMANDS AND NOTICE. Upon the occurrence and during the continuance of an Event of Default or Termination EventDefault, if Enron fails or refuses to pay any Obligations and Counterparty has elected to exercise its rights under this Guaranty, Counterparty shall make a demand upon Guarantor (hereinafter referred to as a “"Payment Demand”"). A Payment Demand shall be in writing and shall reasonably and briefly specify in what manner and what amount Enron has failed to pay and an explanation of why such payment is due, with a specific statement that Counterparty is calling upon Guarantor to pay under this Guaranty. A Payment Demand satisfying the foregoing requirements shall be required with respect to Obligations before Guarantor is required to pay such Obligations hereunder and shall be deemed sufficient notice to Guarantor that it must pay the Obligations within five (5) Business Days after its receipt of the Payment Demand. A single written Payment Demand shall be effective as to any specific default during the continuance of such default, until Enron or Guarantor has cured such default, and additional written demands concerning such default shall not be required until such default is cured.