Common use of Notice of Intent to Terminate Clause in Contracts

Notice of Intent to Terminate. (i) Upon the occurrence of a BPDB Event of Default or a Company Event of Default, as the case may be, that is not cured within the applicable period (if any) for cure, the non-defaulting Party may, at its option, initiate termination of this Lease Agreement by delivering a notice (a “Notice of Intent to Terminate”) of its intent to terminate this Lease Agreement to the defaulting Party. (ii) The Notice of Intent to Terminate shall specify in reasonable detail the Company Event of Default or BPDB Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate.