Procedure for cases of SPD Event of Default. Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, NVVN shall have the right to deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (NVVN Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.
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Procedure for cases of SPD Event of Default. Upon the occurrence and continuation of any SPD Event of Default under Article 13.1, NVVN NTPC shall have the right to deliver to the SPD, with a copy to the representative of the lenders to the SPD with whom the SPD has executed the Financing Agreements, a notice stating its intention to terminate this Agreement (NVVN NTPC Preliminary Default Notice), which shall specify in reasonable detail, the circumstances giving rise to the issue of such notice.
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