Common use of Suspension Date Clause in Contracts

Suspension Date. Upon the occurrence of an Event of Default under Sections 5.2 (a)-(f), the other party, (the “Non-Defaulting Party”), shall have the right, but not the obligation, within thirty (30) days, to designate by facsimile or other reasonable means any of the subsequent ten (10) Business Days as a suspension date (the “Suspension Date”). Upon the occurrence of an Event of Default under Sections 5.2(a)-(f), the Non-Defaulting Party shall have the right to draw on any outstanding collateral deposits in whole or in part, liquidate any Performance Assurance then held by or for the benefit of the Secured Party free from any claim or right of any nature whatsoever of the Defaulting Party, including any equity or right of purchase or redemption by the Defaulting Party, and/or exercise any of the rights and remedies of a Secured Party with respect to all Performance Assurance, including such rights and remedies under law then in effect.

Suspension Date. Upon the occurrence of an Event of Default under Sections 5.2 (a)-(fa)- (f), the other party, (the “Non-Defaulting Party”), shall have the right, but not the obligation, within thirty (30) days, to designate by facsimile or other reasonable means any of the subsequent ten (10) Business Days as a suspension date (the “Suspension Date”). Upon the occurrence of an Event of Default under Sections 5.2(a)-(f), the Non-Defaulting Party shall have the right to draw on any outstanding collateral deposits in whole or in part, liquidate any Performance Assurance then held by or for the benefit of the Secured Party free from any claim or right of any nature whatsoever of the Defaulting Party, including any equity or right of purchase or redemption by the Defaulting Party, and/or exercise any of the rights and remedies of a Secured Party with respect to all Performance Assurance, including such rights and remedies under law then in effect.

Suspension Date. Upon the occurrence of an Event of Default under Sections 5.2 (a)-(f), the other party, (the “"Non-Defaulting Party”"), shall have the right, but not the obligation, within thirty (30) days, to designate by facsimile or other reasonable means any of the subsequent ten (10) Business Days as a suspension date (the “"Suspension Date”"). Upon the occurrence of an Event of Default under Sections 5.2(a)-(f), the Non-Defaulting Party shall have the right to draw on any outstanding collateral deposits in whole or in part, liquidate any Performance Assurance then held by or for the benefit of the Secured Party free from any claim or right of any nature whatsoever of the Defaulting Party, including any equity or right of purchase or redemption by the Defaulting Party, and/or exercise any of the rights and remedies of a Secured Party with respect to all Performance Assurance, including such rights and remedies under law then in effect.