Common use of Notice of Nonpayment Clause in Contracts

Notice of Nonpayment. The Trustee shall notify the Grantor and the New Mexico Environment Department secretary by certified mail within 10 days following the expiration of the 30-day period after the anniversary date of the Trust, if no payment is received from the Grantor during that period according to Schedule B attached hereto. After the payin period is completed, the Trustee shall not be required to send a notice of nonpayment.

Notice of Nonpayment. The Trustee shall notify the Grantor and the New Mexico Environment Department secretary by certified mail within 10 days following the expiration of the 30-day period after the anniversary date of the Trust, if no payment is received from the Grantor during that period according to Schedule B attached hereto. After the payin pay-in period is completed, the Trustee shall not be required to send a notice of nonpayment.