Common use of Nexus’ Right to Terminate Clause in Contracts

Nexus’ Right to Terminate. Nexus may serve a Termination Notice on Network Rail:- (1) where Network Rail fails to comply with any material restriction in a Suspension Notice; (2) where Network Rail fails to comply with its obligations under Clause 9.3(E)(3)(a) within the grace period referred to in Clause 9.3(B)(5); (3) where the Network Rail Event of Default described in Clause 9.2(C)(1) has occurred and has continued for more than 28 days; (4) where the Network Rail Event of Default specified in a Suspension Notice served by Nexus is not capable of being remedied, is not rectified in accordance with Clause 9.3(E)(4) and three months have elapsed from the service of the said Suspension Notice, provided always that Nexus may only serve a Termination Notice on Network Rail where the basis for the Termination Notice is an Event of Default as described in Clause 9.2(C)(2) or Clause 9.2(C)(4) if that Event of Default has occurred and is continuing.