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. (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. 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. 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. 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. 17.3.1 The Defaulting Participant shall have the right to remedy the default at any time prior to forfeiture of its interest pursuant to clause 17.6, by payment in full to the Operator or, if the Non-Defaulting Participants have paid any amounts under clause 17.2(c), the Non-Defaulting Participants, in proportion to the amounts so paid by them, of all amounts in respect of which the Defaulting Participant is in default, together with interest thereon calculated on a day to day basis at a rate equal to the rate stipulated from time to time under the Late Payment of Commercial Debts (Interest) Xxx 0000, from and including the due date for payment of such amounts until the actual date of payment.
Remedy of Default. 3.1 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.
Remedy of Default. A Defaulting Participant will be deemed not to have remedied its default in respect of a Default Amount until the Defaulting Participant has paid either to the Operator or to a Non-defaulting Participant who paid the Default Amount (as may be appropriate) the whole amount of the Default Amount and all Delay Interest accrued on the Default Amount and that such payment is made within the 20 Business Day period detailed in clause 6.10. Other than this right of remedy, a Defaulting Participant shall have no right to remedy its default without the written consent of the Non-defaulting Participant, save for one time only during the currency of the Agreement a Defaulting Participant, prior to expiry of the said 20 day cure period detailed above, may give notice to the Non- defaulting Participant that it elects to extend the said cure period by another 20 Business Days, in which case such cure period shall be so extended.
