Common use of Notice of Cause Clause in Contracts

Notice of Cause. In the event AUTHORIZER determines that SPONSOR is not in material compliance with the terms of this Agreement, or that there are grounds for revocation of this Agreement as provided herein and the Charter granted hereunder other than those grounds set forth in Section 3 of this Exhibit E, AUTHORIZER may issue a Notice of Cause pursuant to Section 5.1 and institute proceedings to revoke this Agreement and the Charter granted herein. Except for events set forth in Section 3 herein, prior to issuance of a Notice of Revocation, SPONSOR shall have the right to file the Response to Notice to Cause, initiate corrective action as provided herein, and complete corrective action by the due date for such cure.