Notification of Events of Default. If the Event of Default is any one of the following:
(a) a Serious Financial Breach (in the case of the Retailer only);
(b) a material breach of the Defaulting Party’s obligations under this agreement that is not in the process of being remedied to the reasonable satisfaction of the other party; or
(c) the Defaulting Party has failed on at least two previous occasions within the last 12 months to meet an obligation under this agreement within the time specified and has received notice of such failures from the other party in accordance with clause 20.1 and, whether each individual failure is in itself material or not, if all such failures taken cumulatively materially adversely affect the other party’s rights or the other party’s ability to carry out its obligations under this agreement or, if the Defaulting Party is the Retailer, the Distributor’s ability to carry out its obligations under any agreement with any other electricity retailer, then no earlier than 1 Working Day after the end of the timeframe set out in clause 20.1, the other party may issue a notice of termination in accordance with clause 21.2 and, if the breach is a Serious Financial Breach by the Retailer, the Distributor may notify the Electricity Authority in writing that the Retailer is in breach of this agreement and, if relevant, notify the clearing manager in accordance with Part 14 of the Code.
Notification of Events of Default. The Borrower shall promptly inform the Agent of the occurrence of any Event of Default or Potential Event of Default and, upon receipt of a written request to that effect from the Agent, confirm to the Agent that, save as previously notified to the Agent or as notified in such confirmation, no Event of Default or Potential Event of Default has occurred and is continuing.
Notification of Events of Default. The Group Representative shall promptly inform the Agent of the occurrence of any Event of Default or Potential Event of Default and, upon receipt of a written request to that effect from the Agent, confirm to the Agent that, save as previously notified to the Agent or as notified in such confirmation, no Event of Default or Potential Event of Default has occurred and is continuing.
Notification of Events of Default. If the Event of Default is any one of the following:
(a) a Serious Financial Breach (in the case of the Retailer only); or
(b) a material breach of the Defaulting Party’s obligations under this agreement that is not in the process of being remedied to the reasonable satisfaction of the other party; or
(c) the Defaulting Party has failed on at least two previous occasions within the last 12 months to meet an obligation under this agreement within the time specified and has received notice of such failures from the other party in accordance with clause 20.1 and, whether each individual failure is in itself material or not, if all such failures taken cumulatively materially adversely affect the other party’s rights or the other party’s ability to carry out its obligations under this agreement or, if the Defaulting Party is the Retailer, the Distributor’s ability to carry out its obligations under any agreement with any other electricity retailer, then no earlier than 1 Working Day after the end of the timeframe set out in clause 20.1 the other party may:
(d) issue a notice of termination in accordance with clause 21.2; and/or
(e) if the Retailer is the Defaulting Party, the Distributor may:
(i) undertake a Temporary Disconnection of some or all of the ICPs supplied by the Retailer, in which case the Retailer will take all steps necessary to allow those disconnections to be made and will provide the information required by the Distributor in relation to such ICPs; and/or
(ii) prohibit the Retailer from using the Network to supply any Point of Connection which is not currently supplied by it; and/or
(iii) if the breach is a Serious Financial Breach and the Distributor has issued a notice of termination pursuant to sub-clause (d) and this agreement has terminated in accordance with clause 21.2, notify the Electricity Authority in writing that this agreement has terminated because of a Serious Financial Breach and, if relevant, notify the clearing manager in accordance with Part 14 of the Code. In exercising its rights under this clause 20.4(e)(iii), the Distributor shall ensure that its notification to the Electricity Authority and/or the clearing manager is not inaccurate or misleading; and/or
(f) exercise any other legal rights available to it.
Notification of Events of Default promptly inform the Lenders of the occurrence of any Event of Default or Potential Event of Default and, upon receipt of a written request to that effect from a Lender, confirm to the relevant Lender that, save as previously notified to the Lenders or as notified in such confirmation, no Event of Default or Potential Event of Default has occurred;
Notification of Events of Default. The Borrower shall promptly inform the Bank after it becomes aware of the occurrence of any default or event of default under this letter or of any event which might reasonably be expected to have a material adverse effect.
Notification of Events of Default. It will promptly inform the Facility Agent of the occurrence of any Event of Default or Potential Event of Default and, upon receipt of a written request to that effect from the Facility Agent, confirm to the Facility Agent that, save as previously notified to the Facility Agent or as notified in such confirmation, no Event of Default or Potential Event of Default has occurred.
Notification of Events of Default. (A) The Borrower shall notify the Agent of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence.
(B) Promptly upon a request by the Agent, the Borrower shall supply to the Agent a certificate signed by one of its directors or a senior officer on its behalf certifying that no Default is Continuing (or if a Default is Continuing, specifying the Default and the steps, if any, being taken to remedy it).
Notification of Events of Default. Within fifteen (15) days after the occurrence of a Default or an Event of Default becomes known to Borrower, a written statement setting forth the nature of the Default or Event of Default and the action that Borrower proposes to take with respect thereto;
Notification of Events of Default. Upon (i) the occurrence of an Event of Default and the expiration of any cure period applicable thereto or (ii) any termination of, or appointment of a successor to, the Servicer pursuant to this Article, the Trustee shall give prompt written notice thereof to Certificateholders at their respective addresses appearing in the Certificate Register, to the Letter of Credit Bank, if any, and to each Rating Agency.
