Common use of Termination (Non Monetary Default Clause in Contracts

Termination (Non Monetary Default. Except as otherwise set forth in and subject to Section 5.3, if either Party believes, as determined in its sole discretion, that there has been a material breach of this Agreement by the other Party (the "Breaching Party"), such Party (" the Claiming Party") must notify the Breaching Party in writing specifying in reasonable detail the nature of the breach within thirty (30) days of learning of said breach. In the case of a partial loss of service, the Breaching Party shall have thirty (30) days (or longer if the Parties agree) in which to remedy the breach. If such a breach has not been remedied to the satisfaction of the Claiming Party by the end of the 30-day remedy period (or such longer remedy period if the Parties agree), the Claiming Party shall have the right to issue formal written notice of termination to the Breaching Party, such termination to take place no sooner than the fifth (5th) Business Day following the expiration of such 30-day or longer period. In the case of a complete loss of service, whereby none of the Customer's ABMs are able to connect to TCS's Switch, TCS shall have three (3) days (or longer if the Parties agree) in which to restore the TCS Switch to a fully operating service and restore access to the Customer's ABMs. If the TCS Switch is not restored to full service by the end of the 3-day remedy period (or such longer period if the Parties agree), the Customer shall have the right to issue formal written notice of termination to TCS, such termination to take place immediately on issuing the written notice.

Appears in 1 contract

Samples: An Agreement (Westsphere Asset Corp Inc)

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Termination (Non Monetary Default. Except as otherwise set forth in and subject to Section 5.3, if either Party believes, as determined in its sole discretion, that there has been a material breach of this Agreement by the other Party (the "Breaching Party"), such Party (" "the Claiming Party") must notify the Breaching Party in writing specifying in reasonable detail the nature of the breach within thirty (30) days [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] of learning of said breach. In the case of a partial loss of service, the Breaching Party shall have thirty (30) days [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] (or longer if the Parties agree) in which to remedy the breach. If such a breach has not been remedied to the satisfaction of the Claiming Party by the end of the 30-day remedy period [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] (or such longer remedy period if the Parties agree), the Claiming Party shall have the right to issue formal written notice of termination to the Breaching Party, such termination to take place no sooner than than, the fifth (5th) [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] Business Day following the expiration of such 30-day [CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION] or longer period. In the case of a complete loss of service, whereby none of the Customer's ABMs are able to connect to TCS's Switch, TCS shall have three (3) days (or longer if the Parties agree) in which to restore the TCS Switch to a fully operating service and restore access to the Customer's ABMs. If the TCS Switch is not restored to full service by the end of the 3-day remedy period (or such longer period if the Parties agree), the Customer shall have the right to issue formal written notice of termination to TCS, such termination to take place immediately on issuing the written notice.[CONFIDENTIAL PORTION DELETED AND FILED SEPARATELY WITH THE

Appears in 1 contract

Samples: Connection Services Agreement (Moneyflow Systems International Inc)

Termination (Non Monetary Default. Except as otherwise set forth in and subject to Section 5.3, if either Party believes, as determined in its sole discretion, that there has been a material breach of this Agreement by the other Party (the "Breaching Party"), such Party (" "the Claiming Party") must notify the Breaching Party in writing specifying in reasonable detail the nature of the breach within thirty (30) days of learning of said breach. In the case of a partial loss of service, the Breaching Party shall have thirty (30) days (or longer if the Parties agree) in which to remedy the breach. If such a breach has not been remedied to the satisfaction of the Claiming Party by the end of the 30-day remedy period (or such longer remedy period if the Parties agree), the Claiming Party shall have the right to issue formal written notice of termination to the Breaching Party, such termination to take place no sooner than the fifth (5th) Business Day following the expiration of such 30-day or longer period. In the case of a complete loss of service, whereby none of the Customer's ABMs are able to connect to TCS's Switch, TCS shall have three (3) days (or longer if the Parties agree) in which to restore the TCS Switch to a fully operating service and restore access to the Customer's ABMs. If the TCS Switch is not restored to full service by the end of the 3-day remedy period (or such longer period if the Parties agree), the Customer shall have the right to issue formal written notice of termination to TCS, such termination to take place immediately on issuing the written notice.

Appears in 1 contract

Samples: An Agreement (Lawler & Associates /Fa/)

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Termination (Non Monetary Default. Except as otherwise set forth in and subject to Section 5.3, if either Party believes, as determined in its sole discretion, that there has been a material breach of this Agreement by the other Party (the "Breaching Party"), such Party (" "the Claiming Party") must notify the Breaching Party in writing specifying in reasonable detail the nature of the breach within thirty (30) days of learning of said breach. In the case of a partial loss of service, the Breaching Party shall have thirty (30) days (or longer if the Parties agree) in which to remedy the breach. If such a breach has not been remedied to the satisfaction of the Claiming Party by the end of the 30-day remedy period (or such longer remedy period if the Parties agree), the Claiming Party shall have the right to issue formal written notice of termination to the Breaching Party, such termination to take place no sooner than than, the fifth (5th5`h) Business Day following the expiration of such 30-30 day or longer period. In the case of a complete loss of service, whereby none of the Customer's ABMs are able to connect to TCS's Switch, TCS shall have three (3) days (or longer if the Parties agree) in which to restore the TCS Switch to a fully operating service and restore access to the Customer's ABMs. If the TCS Switch is not restored to full service by the end of the 3-day remedy period (or such longer period if the Parties agree), the Customer shall have the right to issue formal written notice of termination to TCS, such termination to take place immediately on issuing the written notice.

Appears in 1 contract

Samples: Connection Services Agreement (Moneyflow Systems International Inc)

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