Remedy of Default. (a) A default by the Defaulting Owner under clause 9.1 will not be regarded as remedied unless and until:
Remedy of Default. The Defaulting Party shall have the right to remedy the Default at any time prior to forfeiture, as hereinafter provided, by payment in full to Operator or, if the Non-Defaulting Parties have paid any amounts under Article 12.1, the Non-Defaulting Parties, in proportion to the amounts so paid to them, of all amounts in respect of which the Defaulting Party is in Default, which shall include any cost of financing or interest chargeable to the Non-Defaulting Parties pursuant to Article 12.1 (ii), together with interest thereon calculated on a day-to-day basis at a rate equal to five (5) percent per annum above Base Rate from time to time from and including the due date for payment of such amounts until the actual date of payment.
Remedy of Default. The Defaulting Party shall have the right to remedy the default at any time prior to forfeiture, as hereinafter provided, by payment in full to the Operator or, if the Non Defaulting Parties have paid any amounts under Section 12.1 (d), the Non Defaulting Parties, in proportion to the amounts so paid by them, of all amounts in respect of which the Defaulting Party is in default together with interest thereon calculated at the rate of five per cent (5%) above the Cost of Funds Rate from and including the due date for payment of such amounts until the actual date of payment. If the default is remedied in accordance with this Section 12.2, the Defaulting Party shall (from the day after the date on which the default is remedied) regain the right to utilise its Percentage Interest share of Storage Capacity, but for the avoidance of doubt shall not be entitled to receive or be compensated for any Storage Capacity utilised by the Non Defaulting Parties in accordance with Section 12.3.1, during the default period.
Remedy of Default. The Owner may elect to remedy at any time, without notice, any default by the Operator or an Authorised Driver under this Agreement and all costs and expenses incurred by the Owner (including all legal costs and expenses) in remedying such defaults must be paid by the Operator to the Owner immediately on demand.
Remedy of Default. In addition to its remedies under this Lease, a non-defaulting party shall have all available rights and remedies at law and in equity. The failure of one party to the action in case of a breach of the Lease, or the failure of a party to enforce its rights hereunder shall not be deemed a waiver of any breach of this Lease. In the absence of written notice or consent, any such breach shall be a continuing one. This Section however shall not be construed as a waiver of any defenses that one party may assert against the other under the Lease. The non-defaulting party has the right to terminate this Lease in the Event of Default by providing written notice to the defaulting party that the Lease will be terminated (“Notice of Termination”). The Notice of Termination must set forth the date on which the Lease will terminate (“Default Termination Date”), which date must be at least thirty (30) calendar days after the date the Notice of Termination is served on the defaulting party. If Lessor serves Resident Curator with a Notice of Termination, then after the Default Termination Date and notwithstanding any former breach of covenant or waiver of the benefit hereof or consent in a former instance, Lessor lawfully may, in addition to any and all rights and remedies otherwise available to Lessor at law, enter into and upon the Leased Property and repossess the same and expel Resident Curator and those claiming through or under Resident Curator or otherwise in occupancy and remove their effects (forcibly if necessary) without being deemed guilty of any manner of trespass, and without prejudice to any rights or remedies to which Lessor might otherwise be entitled, for arrears of rent or preceding breach of covenant.
Remedy of Default. The Defaulting Party shall have the right to remedy the default at any time prior to forfeiture, as hereinafter provided, by payment in full to the Operator or, if the Non-Defaulting Parties have paid any amounts under Article 11.1(d), the Non-Defaulting Parties, in proportion to the amounts so paid by them, of all amounts in respect of which the Defaulting Party is in default together with interest thereon calculated at the rate in effect from time to time according to the Statute concerning default of payment (Act No. 583 of 1 September 1986) from and including the due date for payment of such amounts until the actual date of payment.
Remedy of Default. A Defaulting Participant will be deemed not to have remedied its default in respect of a Default Amount until the earlier of:
Remedy of Default. Where the Licensee is in breach of this Agreement, other than as provided under clause 16.4, the Licensor may give the Licensee notice of the breach and request the Licensee to remedy the breach. If the Licensee fails to remedy the breach within the time specified in the notice (not being less than 30 days after receiving notice of the breach), the Licensor may remedy the breach at the cost of the Licensee.
Remedy of Default. The Defaulting Party shall have the right to remedy the default at any time prior to forfeiture, as hereinafter provided, by payment in full to the Operator or, if the Non‑Defaulting Parties have paid any amounts under Section 11.1 (d), the Non‑Defaulting Parties, in proportion to the amounts so paid by them, of all amounts in respect of which the Defaulting Party is in default together with interest thereon calculated at the rate of five per cent (5%) above the Cost of Funds Rate from and including the due date for payment of such amounts until the actual date of payment. If the default is remedied in accordance with this Section 11.2, the Defaulting Party shall (from the day after the date on which the default is remedied) regain the right to take in kind and dispose of its Percentage Interest share of Hydrocarbons, but for the avoidance of doubt shall not be entitled to receive or be compensated for any Hydrocarbons owned by the Non-Defaulting Parties in accordance with Section 11.3.1, during the default period.
Remedy of Default. The Authority may by written notice to the Guarantor require the Guarantor to remedy a Default (“Remedy Notice”). Any Remedy Notice issued by the Authority shall specify the Default which the Authority requires the Guarantor to rectify. The Authority may also specify a date by which the Default must be rectified, provided that, any such date shall not be earlier than the date by which the Contractor is required to carry out the relevant duty, obligation, covenant, warranty or undertaking pursuant to the Guaranteed Services Agreement. Upon receipt of a Remedy Notice, the Guarantor shall remedy, or procure the remedy of the Default as soon as practicable, and if a date for the rectification of the Default is specified by the Authority in the Remedy Notice, no later that the date specified. Without prejudice to the Guarantor’s obligations under Clause 3.2, the Guarantor shall be entitled to engage a Third Party contractor (subject to the Authority’s prior written approval of any such contractor) to remedy the Default, provided that, the Guarantor shall be responsible for all acts or omissions of such contractor. The Guarantor shall indemnify and keep the Authority indemnified and hold the Authority harmless in relation to any claims made by the Third Party contractor against the Guarantor or the Authority, to the extent such claims are not a consequence of an act or omission of the Authority.
