Notice of Default; Cure of Default; Right to Suspend Work Sample Clauses

Notice of Default; Cure of Default; Right to Suspend Work. Corporation shall give Contractor a written Notice of Default specifying the nature of the default and providing a commercially reasonable time for Contractor to cure the default. If Corporation determines, in its sole discretion, that the nature of the default justifies it, Corporation shall have the right to direct Contractor to suspend further work on the SOW and performance of the SOW until the default is corrected and cured. Upon receiving the Notice of Default, Contractor shall immediately suspend the work except such operations as may be necessary to prevent damage to property and to secure the area so it meets safety, health, and environmental requirements. Contractor shall resume the work when Corporation serves Contractor with written notice lifting the suspension.
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Related to Notice of Default; Cure of Default; Right to Suspend Work

  • Notice of Defaults If a Default or Event of Default occurs and is continuing and if it is known to the Trustee, the Trustee shall mail to Holders of Notes a notice of the Default or Event of Default within 90 days after it occurs. Except in the case of a Default or Event of Default in payment of principal of, premium, if any, or interest on any Note, the Trustee may withhold the notice if and so long as a committee of its Responsible Officers in good faith determines that withholding the notice is in the interests of the Holders of the Notes.

  • EVENT OF DEFAULT/REMEDIES 8.1 Any one or more of the following acts or omissions of the Contractor shall constitute an event of default hereunder (“Event of Default”):

  • Notice of Default The Administrative Agent shall not be deemed to have knowledge or notice of the occurrence of any Default or Event of Default unless the Administrative Agent has received notice from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a “notice of default”. In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders); provided that unless and until the Administrative Agent shall have received such directions, the Administrative Agent may (but shall not be obligated to) take such action, or refrain from taking such action, with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders.

  • Events of Default Remedies If any of the following events (“Events of Default”) shall occur:

  • Notice of Events of Default The Issuer shall give a Responsible Officer of the Indenture Trustee and each Rating Agency prompt written notice of each Event of Default hereunder and each default on the part of the Servicer or the Seller of its obligations under the Sale and Servicing Agreement.

  • Waiver of Default Upon the happening of any default hereunder:

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