Effect of Termination Notice. Where Network Rail or Nexus has served a Termination Notice on the other:- (1) the service of such Termination Notice shall not affect the parties’ continuing rights and obligations under this Agreement up to the date of termination as specified in the Termination Notice or such later date as the party which has served the Termination Notice may notify to the other following the service of the Termination Notice but prior to the date upon which it shall have been specified to have effect; (2) the party which has served the Termination Notice shall withdraw it by notice to the other party, upon being reasonably satisfied that the relevant Event of Default has been remedied or is deemed remedied; and (3) this Agreement shall terminate on the date and time specified in the Termination Notice or such later date and time as the party which has served the Termination Notice may notify to the other prior to the date and time upon which it shall have been specified to have effect.
Appears in 6 contracts
Samples: Track Access Agreement (Passenger Services), Track Access Agreement, Track Access Agreement (Passenger Services)
