Common use of Termination for Department Default Clause in Contracts

Termination for Department Default. (a) If a Department Default occurs and it has not been cured within any relevant cure period set out in Section 23.2 (Initial Notice and Cure Periods), the Development Entity may serve a Termination Notice (Development Entity Termination Notice) on the Department at any time during the continuance of that Department Default. (b) A Development Entity Termination Notice must specify the type of Department Default which has occurred entitling the Development Entity to terminate. (c) This PPA will terminate on the date falling twenty (20) Business Days after the date the Department receives the Development Entity Termination Notice. (d) If this PPA is terminated pursuant to this Section 24.2 (Termination for Department Default), the Department shall pay the Department Termination Sum to the Development Entity in accordance with Schedule 6 (Compensation on Termination).

Termination for Department Default. (a) If a Department Default occurs and it has not been cured within any relevant cure period set out in Section 23.2 (Initial Notice and Cure Periods), the Development Entity may serve a Termination Notice (Development Entity Termination Notice) on the Department at any time during the continuance of that Department Default. (b) A Development Entity Termination Notice must specify the type of Department Default which has occurred entitling the Development Entity to terminateterminate this PPA. (c) This PPA will terminate on the date falling twenty (20) Business Days after the date the Department receives the Development Entity Termination Notice. (d) If this PPA is terminated pursuant to this Section 24.2 (Termination for Department Default), the Department shall pay the Department Termination Sum to the Development Entity in accordance with Schedule 6 (Compensation on Termination).