Termination by GeoXplor. If NECA defaults in the performance of its obligations specified in this Agreement, GeoXplor shall give NECA written notice specifying the default. If the default is not cured within thirty (30) days after NECA has received the notice, or if NECA has not within that time begun action to cure the default and does not thereafter diligently prosecute such action to completion, GeoXplor may terminate this Agreement by delivering to NECA written notice of such termination. GeoXplor's right to terminate this Agreement shall be its sole remedy for any failure to make payments required under Section 2. If NECA in good faith disputes the existence of a default, NECA shall initiate appropriate action in a court of competent jurisdiction within the 30-day period and the time to cure shall run from the date of a final determination that a default exists. GeoXplor shall have no right to terminate this Agreement except as set forth in this subsection a of Section 6.
Appears in 3 contracts
Samples: Extension Agreement (New America Energy Corp.), Extension Agreement (First Liberty Power Corp), Option Agreement (First Liberty Power Corp)
Termination by GeoXplor. If NECA defaults in the performance of its obligations specified in this Agreement, GeoXplor shall give NECA written notice specifying the default. If the default is not cured within thirty (30) days after NECA has received the notice, or if NECA has not within that time begun action to cure the default and does not thereafter diligently prosecute such action to completion, GeoXplor may terminate this Agreement by delivering to NECA written notice of such termination. GeoXplor's right to terminate this Agreement shall be its sole remedy for any failure to make payments required under Section 2. If NECA in good faith disputes the existence of a default, NECA shall initiate appropriate action in a court of competent jurisdiction within the 30-day period and the time to cure shall run from the date of a final determination that a default exists. GeoXplor shall have no right to terminate this Agreement except as set forth in this subsection a (a) of Section 6.
Appears in 3 contracts
Samples: Purchase Agreement (New America Energy Corp.), Purchase Agreement (New America Energy Corp.), Purchase Agreement (New America Energy Corp.)
Termination by GeoXplor. If NECA First Liberty defaults in the performance of its obligations specified in this Agreement, GeoXplor shall give NECA First Liberty written notice specifying the default. If the default is not cured within thirty (30) days after NECA First Liberty has received the notice, or if NECA First Liberty has not within that time begun action to cure the default and does not thereafter diligently prosecute such action to completion, GeoXplor may terminate this Agreement by delivering to NECA First Liberty written notice of such termination. GeoXplor's right to terminate this Agreement shall be its sole remedy for any failure to make payments required under Section 2. If NECA First Liberty in good faith disputes the existence of a default, NECA First Liberty shall initiate appropriate action in a court of competent jurisdiction within the 30-day period and the time to cure shall run from the date of a final determination that a default exists. GeoXplor shall have no right to terminate this Agreement except as set forth in this subsection a of Section 6.
Appears in 2 contracts
Samples: Purchase Agreement (First Liberty Power Corp), Purchase Agreement (First Liberty Power Corp)
Termination by GeoXplor. If NECA defaults in the performance of its obligations specified in this Agreement, GeoXplor shall give NECA written notice specifying the default. If the default is not cured within thirty (30) days after NECA has received the notice, or if NECA has not within that time begun action to cure the default and does not thereafter diligently prosecute such action to completion, GeoXplor may terminate this Agreement by delivering to NECA written notice of such termination. GeoXplor's right to terminate this Agreement shall be its sole remedy for any failure to make payments required under Section 2. If NECA in good faith disputes the existence of a default, NECA shall initiate appropriate action in a court of competent jurisdiction within the 30-day period and the time to cure shall run from the date of a final determination that a default exists. GeoXplor shall have no right to terminate this Agreement except as set forth in this subsection a of Section 6.. P a g e | 7
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Termination by GeoXplor. If NECA First Liberty defaults in the performance of its obligations specified in this Agreement, GeoXplor shall give NECA First Liberty written notice specifying the default. If the default is not cured within thirty (30) days after NECA First Liberty has received the notice, or if NECA First Liberty has not within that time begun action to cure the default and does not thereafter diligently prosecute such action to completion, GeoXplor may terminate this Agreement by delivering to NECA First Liberty written notice of such termination. GeoXplor's right to terminate this Agreement shall be its sole remedy for any failure to make payments required under Section 2. If NECA First Liberty in good faith disputes the existence of a default, NECA First Liberty shall initiate appropriate action in a court of competent jurisdiction within the 30-day period and the time to cure shall run from the date of a final determination that a default exists. GeoXplor shall have no right to terminate this Agreement except as set forth in this subsection a a. of Section 6.
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