Options for certain Events of Default. If the Event of Default is any of the following:
(a) a Serious Financial Breach (in the case of the Trader 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 2 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 18.1 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 Trader, the Distributor’s ability to carry out its obligations under any agreement with any other electricity trader, then no earlier than 1 Working Day after the end of the timeframe set out in clause 18.1, the other party may do any 1 or more of the following:
(d) issue a notice of termination in accordance with clause 19.2;
(e) if the Defaulting Party is the Trader, the Distributor may issue a notice prohibiting the Trader from trading at any ICPs on the Distributor's Network at which the Trader was not already trading on the date of the notice;
(f) exercise any other legal rights available to it; and
(g) if the breach is a Serious Financial Breach by the Trader, the Distributor may notify the Electricity Authority and/or the clearing manager that clause 14.41(h) of the Code applies.
Options for certain Events of Default. If the Event of Default is any of the following:
(a) a Serious Financial Breach (in the case of the Trader 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 2 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 18.1 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 Trader, the Distributor’s ability to carry out its obligations under any agreement with any other electricity trader, then no earlier than 1 Working Day after the end of the timeframe set out in clause 18.1, the other party may do any 1 or more of the following:
