Common use of Procedure for cases of Developer Event of Default Clause in Contracts

Procedure for cases of Developer Event of Default. 16.3.1 Upon the occurrence and continuation of any Developer Event of Default under Article 16.1, ESCOM shall be entitled to terminate this Agreement by issuing a notice stating its intention to terminate this Agreement (ESCOM Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice. 16.3.2 Following the issue of a ESCOM Preliminary Default Notice, the Consultation Period of sixty (60) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 16.3.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 16.3.4 Within a period of seven (7) days following the expiry of the Consultation Period unless the Parties shall have otherwise agreed to the contrary or the Developer Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, ESCOM shall be entitled to terminate this Agreement by giving a written Termination Notice of thirty (30) days to the Developer.

Procedure for cases of Developer Event of Default. 16.3.1 Upon the occurrence and continuation of any Developer Event of Default under Article 16.1, ESCOM shall be entitled to terminate this Agreement by issuing a notice stating its intention to terminate this Agreement (ESCOM Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice. 16.3.2 Following the issue of a ESCOM Preliminary Default Notice, the Consultation Period of sixty (60) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 16.3.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 16.3.4 Within a period of seven (7) days following the expiry of the Consultation Period unless the Parties shall have otherwise agreed to the contrary or the Developer Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, ESCOM shall be entitled to terminate this Agreement by giving a written Termination Notice of thirty (30) days to the Developer.

Procedure for cases of Developer Event of Default. 16.3.1 16.3.1. Upon the occurrence and continuation of any Developer Event of Default under Article 16.1, ESCOM BESCOM shall be entitled to terminate this Agreement by issuing a notice stating its intention to terminate this Agreement (ESCOM BESCOM Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice. 16.3.2 16.3.2. Following the issue of a ESCOM BESCOM Preliminary Default Notice, the Consultation Period of sixty (60) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 16.3.3 16.3.3. During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 16.3.4 16.3.4. Within a period of seven (7) days following the expiry of the Consultation Period unless the Parties shall have otherwise agreed to the contrary or the Developer Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, ESCOM BESCOM shall be entitled to terminate this Agreement by giving a written Termination Notice of thirty (30) days to the Developer.

Procedure for cases of Developer Event of Default. 16.3.1 ‌ 16.3.1. Upon the occurrence and continuation of any Developer Event of Default under Article 16.1, ESCOM shall be entitled to terminate this Agreement by issuing a notice stating its intention to terminate this Agreement (ESCOM Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice. 16.3.2 16.3.2. Following the issue of a ESCOM Preliminary Default Notice, the Consultation Period of sixty (60) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 16.3.3 16.3.3. During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 16.3.4 16.3.4. Within a period of seven (7) days following the expiry of the Consultation Period unless the Parties shall have otherwise agreed to the contrary or the Developer Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, ESCOM shall be entitled to terminate this Agreement by giving a written Termination Notice of thirty (30) days to the Developer.

Procedure for cases of Developer Event of Default. 16.3.1 A. Upon the occurrence and continuation of any Developer Event of Default under Article 16.1Clause 17.1, ESCOM the Authority shall be entitled to terminate this Agreement by issuing a notice stating its intention to terminate this Agreement (ESCOM Authority’s Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice. 16.3.2 B. Following the issue of a ESCOM the Authority Preliminary Default Notice, the Consultation Period of sixty (60) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 16.3.3 C. During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 16.3.4 D. Within a period of seven 7 (7seven) days following the expiry of the Consultation Period unless the Parties shall have otherwise agreed to the contrary or the Developer Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, ESCOM the Authority shall be entitled to terminate this Agreement by giving a written Termination Notice of thirty 30 (30thirty) days to the Developer.

Procedure for cases of Developer Event of Default. 16.3.1 Upon the occurrence and continuation of any PHSP Developer Event of Default under Article 16.1, ESCOM shall be entitled to terminate this Agreement by issuing a notice stating its intention to terminate this Agreement (ESCOM Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice. 16.3.2 Following the issue of a ESCOM Preliminary Default Notice, the Consultation Period of sixty (60) days or such longer period as the Parties may agree, shall apply and it shall be the responsibility of the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances. 16.3.3 During the Consultation Period, the Parties shall continue to perform their respective obligations under this Agreement. 16.3.4 Within a period of seven (7) days following the expiry of the Consultation Period unless the Parties shall have otherwise agreed to the contrary or the Developer Event of Default giving rise to the Consultation Period shall have ceased to exist or shall have been remedied, ESCOM shall be entitled to terminate this Agreement by giving a written Termination Notice of thirty (30) days to the Developer.