Common use of Termination Notices Clause in Contracts

Termination Notices. 13.3.1 Upon the occurrence of a Government Event of Default or a Concessionaire Event of Default, as the case may be, that is not cured within the applicable cure period, if any, the non-defaulting Party may initiate termination of this Agreement by delivering a notice ("Notice of Intent to Terminate") of its intent to terminate this Agreement to the defaulting Party. The Notice of Intent to Terminate shall specify in reasonable detail the Concessionaire Event of Default or the Government Event of Default, as the case may be, giving rise to such notice. 13.3.2 Following delivery of the Notice of Intent to Terminate, the Party in default may continue to undertake efforts to cure the Concessionaire Event of Default or the Government Event of Default, as the case may be, for a period of fifteen (15) Days commencing on the delivery date of such notice in the case of a failure by either Party to make payments or for a period of thirty (30) Days commencing on the delivery of such notice in the case of any other Concessionaire Event of Default or Government Event of Default, as the case may be, and if the default is cured at any time prior to the delivery of a Termination Notice in accordance with Clause 13.3.3 then the non-defaulting Party shall have no right to terminate this Agreement in respect of such cured Concessionaire Event of Default or Government Event of Default, as the case may be. 13.3.3 Subject to the provisions of Clause 13.4 and the Tripartite Financial Agreement, upon expiration of the cure period described in Clause 13.3.2 and unless the Parties shall have otherwise agreed or unless the Concessionaire Event of Default or Government Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate shall have been remedied, the Party having given the Notice of Intent to Terminate may terminate this Agreement by delivering a notice ("Termination Notice") to the other Party, whereupon this Agreement shall terminate on the date ("Termination Date") specified in the Termination Notice, which shall not be earlier than ten (10) Business Days or later than twenty (20) Business Days following the date of delivery of the Termination Notice to the other Party and the provisions of Clause 14 shall apply.

Termination Notices. 13.3.1 (a) Upon the occurrence of a Government GOP Event of Default or a Concessionaire Seller Event of Default, as the case may be, that is not cured within the applicable cure period, if any, the non-defaulting Party may may, at its option, initiate termination of this Agreement by delivering a notice ("a “Notice of Intent to Terminate"”) of its intent to terminate this Agreement to the defaulting Party. The Notice of Intent to Terminate shall specify in reasonable detail the Concessionaire Seller Event of Default or the Government GOP Event of Default, as the case may be, giving rise to such notice. 13.3.2 (b) Following delivery of the Notice of Intent to Terminate, the Party in default may continue to undertake efforts to cure the Concessionaire Seller Event of Default or the Government GOP Event of Default, as the case may be, for a period of fifteen forty five (1545) Days commencing on the delivery date of such notice in the case of a failure by either Party to make payments payments, or for a period of thirty ninety (3090) Days commencing on the delivery of such notice in the case of any other Concessionaire Seller Event of Default or Government GOP Event of Default, as the case may be, (or such longer period as the Parties may mutually agree) and if the default is cured at any time prior to the delivery of a Termination Notice in accordance with Clause 13.3.3 Section 14.2(c), then the non-defaulting Party shall have no right to terminate this Agreement in respect of such cured Concessionaire Seller Event of Default or Government GOP Event of Default, as the case may be. 13.3.3 (c) Subject to the provisions of Clause 13.4 and Section 14.3 (Notice to the Tripartite Financial AgreementGOP of the Purchaser’s Default) or Section 14.4 (Notice to the Lenders of the Seller’s Default), as the case may be, upon expiration of the cure period described in Clause 13.3.2 Section 14.2(b) and unless the Parties shall have otherwise agreed or unless the Concessionaire Seller Event of Default or Government GOP Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate shall have been remedied, the Party having given the Notice of Intent to Terminate may terminate this Agreement by delivering a notice ("Termination Notice") Notice to the other Party, whereupon this . This Agreement shall terminate on the date ("Termination Date") specified in the Termination NoticeNotice (“Termination Date”), which date shall not be earlier than the date that is ten (10) Business Days following the date on which the Termination Notice is delivered to the other Party or later than twenty thirty (2030) Business Days following the date of delivery of the Termination Notice to the other Party and the provisions of Clause 14 shall applysuch delivery.

Termination Notices. 13.3.1 10.2.1 Upon the occurrence of a Government UETCL Event of Default or a Concessionaire GENCO Event of Default, as the case may be, that is not cured within the applicable cure period, period (if any) for cure, the non-defaulting Party may party may, at its option, initiate termination of this Agreement by delivering a written notice ("“Notice of Intent to Terminate"”) of its intent to terminate this Agreement to the defaulting Partyparty. The Notice of Intent to Terminate shall specify in reasonable detail the Concessionaire UETCL Event of Default or the Government GENCO Event of Default, as the case may be, giving rise to such noticethe Notice of Intent to Terminate. 13.3.2 10.2.2 Notwithstanding anything to the contrary in this Agreement: (a) UETCL shall not seek to terminate this Agreement as a result of any default of GENCO without first giving a copy of any notices required to be given to GENCO under Clause 10.2.1 to the Lenders; and (b) GENCO shall not seek to terminate this Agreement as a result of any default of UETCL without first giving a copy of any notices required to be given to UETCL under Clause 10.2.1 to GOU pursuant to the Implementation Agreement. 10.2.3 Following the giving of a Notice of Intent to Terminate, the Parties shall consult for a period of forty five (45) days in case of a failure by either Party to make payments or provide security when due, and ninety (90) days with respect to any other Event of Default (or such longer period as the Parties mutually may agree), as to what steps shall be taken with a view to mitigating the consequences of the relevant event taking into account all prevailing circumstances. During the period following delivery of the Notice of Intent to Terminate, the Party in default may continue to undertake efforts to cure the Concessionaire Event of Default or the Government Event of Default, as the case may be, for a period of fifteen (15) Days commencing on the delivery date of such notice in the case of a failure by either Party to make payments or for a period of thirty (30) Days commencing on the delivery of such notice in the case of any other Concessionaire Event of Default or Government Event of Default, as the case may bedefault, and if the default is cured at any time prior to the delivery of a Termination Notice termination notice in accordance with Clause 13.3.3 10.2.4, then the non-defaulting Party shall have no right to terminate this Agreement in respect of such cured Concessionaire Event of Default or Government Event of Default, as the case may bedefault. 13.3.3 Subject to the provisions of Clause 13.4 and the Tripartite Financial Agreement, upon 10.2.4 Upon expiration of the cure consultation period described in Clause 13.3.2 10.2.3, if any, and unless the Parties shall have otherwise agreed or unless the Concessionaire UETCL Event of Default or Government GENCO Event of Default, as the case may be, Default giving rise to the Notice of Intent to Terminate shall have been remedied, remedied the Party having given the Notice of Intent to Terminate may terminate this Agreement by delivering a termination notice ("Termination Notice") to the other Party, whereupon this Agreement shall terminate on the date ("Termination Date") specified in the Termination Notice, which shall not be earlier than ten (10) Business Days or later than twenty (20) Business Days following the date of delivery of the Termination Notice to the other Party and the provisions of Clause 14 shall apply.immediately terminate

Termination Notices. 13.3.1 (a) Upon the occurrence of a Government GOL Event of Default or a Concessionaire Company Event of Default, as the case may be, that is not cured within the applicable cure period, if anyperiod for cure, the non-non- defaulting Party may may, at its option, initiate termination of this Agreement by delivering a notice ("Notice of Intent to Terminate") of its intent to terminate this Agreement Terminate to the defaulting Party. The Notice of Intent to Terminate shall specify in reasonable detail the Concessionaire Company Event of Default or the Government GOL Event of Default, as the case may be, giving rise to such notice. 13.3.2 (b) Following the delivery of a Notice of Intent to Terminate, the Parties shall consult for a period of up to forty-five (45) Days with respect to a failure by either Party to make payments when due, and up to ninety (90) Days with respect to any other Event of Default (or such longer period as the Parties may mutually agree), as to what steps shall be taken with a view to mitigating the consequences of the relevant Event of Default taking into account all the circumstances. During the period following the delivery of the Notice of Intent to Terminate, the Party in default may continue to undertake efforts to cure the Concessionaire Event of Default or the Government Event of Default, as the case may be, for a period of fifteen (15) Days commencing on the delivery date of such notice in the case of a failure by either Party to make payments or for a period of thirty (30) Days commencing on the delivery of such notice in the case of any other Concessionaire Event of Default or Government Event of Default, as the case may bedefault, and if the default is cured at any time prior to the delivery of a Termination Notice in accordance with Clause 13.3.3 Section 17.3(c), then the non-defaulting Party shall have no right to terminate this Agreement in respect of such cured Concessionaire Event of Default or Government Event of Default, as the case may bedefault. 13.3.3 Subject to the provisions of Clause 13.4 and the Tripartite Financial Agreement, upon (c) Upon expiration of the cure consultation period described in Clause 13.3.2 Section 17.3(b) and unless the Parties shall have otherwise agreed or unless the Concessionaire Event of Default or Government Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate shall have been remedied, the Party having given the Notice of Intent to Terminate may terminate this Agreement by delivering deliver a notice ("Termination Notice") Notice to the other Party, whereupon this Agreement shall terminate on the date ("Termination Date") specified in the Termination Notice, which shall not be earlier than ten (10) Business Days or later than twenty (20) Business Days following the date of delivery of the Termination Notice to the other Party and the provisions of Clause 14 Article XVIII shall apply.

Termination Notices. 13.3.1 (a) Upon the occurrence of a Government GOP Event of Default or a Concessionaire Company Event of Default, as the case may be, that is not cured within the applicable cure period, if any, the non-defaulting Party may may, at its option, initiate termination of this Agreement by delivering a notice ("a “ Notice of Intent to Terminate"Terminate ”) of its intent to terminate this Agreement to the defaulting Party. The Notice of Intent to Terminate shall specify in reasonable detail the Concessionaire Company Event of Default or the Government GOP Event of Default, as the case may be, giving rise to such notice. 13.3.2 (b) Following delivery of the Notice of Intent to Terminate, the Party in default may continue to undertake efforts to cure the Concessionaire Company Event of Default or the Government GOP Event of Default, as the case may be, for a period of fifteen forty five (1545) Days days commencing on the delivery date of such notice in the case of a failure by either Party to make payments payments, or for a period of thirty ninety (3090) Days days commencing on the delivery of such notice in the case of any other Concessionaire Company Event of Default or Government GOP Event of Default, as the case may be, (or such longer period as the Parties may mutually agree) and if the default is cured at any time prior to the delivery of a Termination Notice in accordance with Clause 13.3.3 Section 14.2(c), then the non-defaulting Party shall have no right to terminate this Agreement in respect of such cured Concessionaire Company Event of Default or Government GOP Event of Default, as the case may be. 13.3.3 (c) Subject to the provisions of Clause 13.4 and Section 14.3 or Section 14.4, as the Tripartite Financial Agreementcase may be, upon expiration of the cure period described in Clause 13.3.2 Section 14.2(b) and unless the Parties shall have otherwise agreed or unless the Concessionaire Company Event of Default or Government GOP Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate shall have been remedied, the Party having given the Notice of Intent to Terminate may terminate this Agreement by delivering a notice ("Termination Notice") Notice to the other Party, whereupon this Agreement shall terminate on the date ("the “ Termination Date"”) specified in the Termination Notice, which date shall not be earlier than ten (10) Business Days or later than twenty thirty (2030) Business Days days following the date of delivery of the Termination Notice to the other Party Party, and the provisions of Clause 14 Article XV shall apply.

Termination Notices. 13.3.1 14.2.1 Upon the occurrence of a Government an NEPCO Event of Default (other than a failure by NEPCO to make payments when due) or a Concessionaire Project Company Event of Default, as the case may be, that is not cured within the applicable cure period, period (if any) for cure, the non-defaulting Party may may, at its option, initiate termination of this Agreement by delivering a notice (a "Notice of Intent to Terminate") of its intent to terminate this Agreement to the defaulting Party. The Notice of Intent to Terminate shall specify in reasonable detail the Concessionaire Project Company Event of Default or the Government NEPCO Event of Default, as the case may be, giving rise to such noticeNotice. 13.3.2 14.2.2 Following the delivery of a Notice of Intent to Terminate, the Parties shall consult for a period of up to forty-five (45) Days in case of a failure by either Party to make payments when due, and up to sixty (60) Days with respect to any other Event of Default (or such longer period as the Parties may mutually agree), as to what steps shall be taken with a view to mitigating the consequences of the relevant Event of Default taking into account all the circumstances. During the period following the delivery of the Notice of Intent to Terminate, the Party in default may continue to undertake efforts to cure the Concessionaire Event of Default or the Government Event of Default, as the case may be, for a period of fifteen (15) Days commencing on the delivery date of such notice in the case of a failure by either Party to make payments or for a period of thirty (30) Days commencing on the delivery of such notice in the case of any other Concessionaire Event of Default or Government Event of Default, as the case may bedefault, and if the default is cured at any time prior to the delivery of a Termination Notice in accordance with Clause 13.3.3 Article 14.2.3 then the non-defaulting Party shall have no right to terminate this Agreement in respect of such cured Concessionaire default. 14.2.3 Upon: (i) the occurrence of an NEPCO Event of Default as a result of a failure by NEPCO to make payments when due; or Government Event of Default, as the case may be. 13.3.3 Subject to the provisions of Clause 13.4 and the Tripartite Financial Agreement, upon (ii) expiration of the cure consultation period described in Clause 13.3.2 Article 14.2.2, and unless the Parties shall have otherwise agreed or unless the Concessionaire Event of Default or Government Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate shall have been remedied, then: (i) the Project Company, in respect of a NEPCO Event of Default as a result of a failure by NEPCO to make payments when due; or (ii) the Party having given the Notice of Intent to Terminate Terminate, as the case may be, may terminate this Agreement by delivering delivery of a notice ("Termination Notice") Notice to the other Party, whereupon this Agreement shall terminate on the date ("Termination Date") specified in the Termination Notice, which shall not be earlier than ten (10) Business Days or later than twenty (20) Business Days following the date of delivery of the Termination Notice to the other Party and the provisions of Clause 14 shall applyimmediately terminate.

Termination Notices. 13.3.1 (a) Upon the occurrence of a Government GOP Event of Default or a Concessionaire Company Event of Default, as the case may be, that is not cured within the applicable cure period, if any, the non-defaulting Party may may, at its option, initiate termination of this Agreement by delivering a notice ("a “Notice of Intent to Terminate"”) of its intent to terminate this Agreement to the defaulting Party. The Notice of Intent to Terminate shall specify in reasonable detail the Concessionaire Company Event of Default or the Government GOP Event of Default, as the case may be, giving rise to such notice. 13.3.2 (b) Following delivery of the Notice of Intent to Terminate, the Party in default may continue to undertake efforts to cure the Concessionaire Company Event of Default or the Government GOP Event of Default, as the case may be, for a period of fifteen forty five (1545) Days days commencing on the delivery date of such notice in the case of a failure by either Party to make payments payments, or for a period of thirty ninety (3090) Days days commencing on the delivery of such notice in the case of any other Concessionaire Company Event of Default or Government GOP Event of Default, as the case may be, (or such longer period as the Parties may mutually agree) and if the default is cured at any time prior to the delivery of a Termination Notice in accordance with Clause 13.3.3 Section 14.2(c), then the non-defaulting Party shall have no right to terminate this Agreement in respect of such cured Concessionaire Company Event of Default or Government GOP Event of Default, as the case may be. 13.3.3 (c) Subject to the provisions of Clause 13.4 and Section 14.3 or Section 14.4, as the Tripartite Financial Agreementcase may be, upon expiration of the cure period described in Clause 13.3.2 Section 14.2(b) and unless the Parties shall have otherwise agreed or unless the Concessionaire Company Event of Default or Government GOP Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate shall have been remedied, the Party having given the Notice of Intent to Terminate may terminate this Agreement by delivering a notice ("Termination Notice") Notice to the other PartyParty whereupon, whereupon this Agreement shall terminate on the date ("the “Termination Date"”) specified in the Termination Notice, which date shall not be earlier than the date that is ten (10) Business Days following the date on which the Termination Notice is delivered to the other Party or later than twenty thirty (2030) Business Days days following the date of such delivery of the Termination Notice to the other Party Party, and the provisions of Clause 14 Article XV shall apply.

Termination Notices. 13.3.1 (a) Upon the occurrence of a Government Company Event of Default or a Concessionaire AJ&K/Provincial Government Event of Default, as the case may be, that is not cured within the applicable cure period, period (if any) for cure, the non-defaulting Party AJ&K/Provincial Government or the Company, as the case may be, may, at its option, initiate termination of this Agreement by delivering a notice ("a “Notice of Intent to Terminate"”) of its intent to terminate this Agreement or, if permitted under Section 11.2(b), immediately deliver a Termination Notice to the defaulting other Party. The Notice of Intent to Terminate shall specify in reasonable detail the Concessionaire Company Event of Default or the AJ&K/Provincial Government Event of Default, as the case may be, giving rise to such notice. 13.3.2 (b) Following the delivery of the a Notice of Intent to Terminate, the Party in default may continue to undertake efforts to cure the Concessionaire default for a period (commencing on the delivery of such notice) of forty-five (45) Days in case of a failure by a Party to make any payment when due, and ninety (90) Days with respect to any other Company Event of Default or the AJ&K/Provincial Government Event of Default, as the case may be, for a be (or such longer period of fifteen (15) Days commencing on the delivery date of such notice in the case of a failure by either Party to make payments or for a period of thirty (30) Days commencing on the delivery of such notice in the case of any other Concessionaire Event of Default or Government Event of Default, as the case Parties may bemutually agree), and if the default is cured at any time prior to the delivery of a Termination Notice in accordance with Clause 13.3.3 Section 11.2(c), then the non-defaulting Party shall have no right to terminate this Agreement in respect of such cured Concessionaire default; provided, however, that no cure period shall be available to the Company for a Company Event of Default under Section 11.1(a)(ii) [or Section 11.1(a)(iv)], and immediately upon the occurrence of any such Company Event of Default, the AJ&K/Provincial Government shall be entitled to deliver a Termination Notice pursuant to Section 11.2(c). (c) Subject to the provisions of Section 11.3 and Section 11.4, as the case may be, upon expiration of the period, if any, allowed to cure the Company Event of Default or the AJ&K/Provincial Government Event of Default, as the case may be. 13.3.3 Subject to the provisions of Clause 13.4 and the Tripartite Financial Agreement, upon expiration of the cure period described in Clause 13.3.2 Section 11.2(b) and unless the Parties shall have otherwise agreed or unless the Concessionaire Company Event of Default or the AJ&K/Provincial Government Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate shall have been remedied, the non- defaulting Party having given the Notice of Intent to Terminate may terminate this Agreement by delivering a notice ("Termination Notice") Notice to the other defaulting Party, whereupon this Agreement shall immediately terminate on the date ("Termination Date") specified in the Termination Notice, which shall not be earlier than ten (10) Business Days or later than twenty (20) Business Days following the date of delivery of the Termination Notice to the other Party and the provisions of Clause 14 Article XII shall apply.

Termination Notices. 13.3.1 (a) Upon the occurrence of a Government GOP Event of Default or a Concessionaire Seller Event of Default, as the case may be, that is not cured within the applicable cure period, if any, the non-defaulting Party may may, at its option, initiate termination of this Agreement by delivering a notice ("a “Notice of Intent to Terminate"”) of its Implementation Agreement 54 intent to terminate this Agreement to the defaulting Party. The Notice of Intent to Terminate shall specify in reasonable detail the Concessionaire Seller Event of Default or the Government GOP Event of Default, as the case may be, giving rise to such notice. 13.3.2 (b) Following delivery of the Notice of Intent to Terminate, the Party in default may continue to undertake efforts to cure the Concessionaire Seller Event of Default or the Government GOP Event of Default, as the case may be, for a period of fifteen forty five (1545) Days commencing on the delivery date of such notice in the case of a failure by either Party to make payments payments, or for a period of thirty ninety (3090) Days commencing on the delivery of such notice in the case of any other Concessionaire Seller Event of Default or Government GOP Event of Default, as the case may be, (or such longer period as the Parties may mutually agree) and if the default is cured at any time prior to the delivery of a Termination Notice in accordance with Clause 13.3.3 Section 14.2(c), then the non-defaulting Party shall have no right to terminate this Agreement in respect of such cured Concessionaire Seller Event of Default or Government GOP Event of Default, as the case may be. 13.3.3 (c) Subject to the provisions of Clause 13.4 and Section 14.3 (Notice to the Tripartite Financial AgreementGOP of the Purchaser’s Default) or Section 14.4 (Notice to the Lenders of the Seller’s Default), as the case may be, upon expiration of the cure period described in Clause 13.3.2 Section 14.2(b) and unless the Parties shall have otherwise agreed or unless the Concessionaire Seller Event of Default or Government GOP Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate shall have been remedied, the Party having given the Notice of Intent to Terminate may terminate this Agreement by delivering a notice ("Termination Notice") Notice to the other Party, whereupon this . This Agreement shall terminate on the date ("Termination Date") specified in the Termination NoticeNotice (“Termination Date”), which date shall not be earlier than the date that is ten (10) Business Days following the date on which the Termination Notice is delivered to the other Party or later than twenty thirty (2030) Business Days following the date of delivery of the Termination Notice to the other Party and the provisions of Clause 14 shall applysuch delivery.

Termination Notices. 13.3.1 (1) Upon the occurrence of a Government State Termination Event of Default or a Concessionaire Event of DefaultRefiner Termination Event, as the case may be, that is not cured or for which a cure is not being diligently pursued, within the applicable cure period, if any, by the non-defaulting State (in the case of a Refiner Termination Event) or Refiner or the Lenders (in the case of a State Termination Event), the other Party may may, at its option, initiate termination of this Agreement by delivering a written notice (a "Notice of Intent to Terminate") of its intent to terminate this Agreement to the defaulting Party. The Notice of Intent to Terminate shall specify in reasonable detail the Concessionaire Event of Default or the Government Event of Default, as the case may be, giving rise to such notice. 13.3.2 (2) Following the delivery of the a Notice of Intent to Terminate, the Party in default may continue to undertake efforts to cure the Concessionaire Event of Default or the Government Event of Default, as the case may be, State and Refiner shall consult for a period of fifteen up to ten (1510) Days commencing on the delivery date of such notice days in the case of a failure by either Party to make payments or for a period of thirty when due, and up to one hundred and twenty (30120) Days commencing on the delivery of such notice in the case of days with respect to any other Concessionaire Refiner Termination Event or State Termination Event (or such longer period as they may mutually agree) as to what steps shall be taken with a view to remedying or mitigating the consequences of Default the relevant Refiner Termination Event or Government State Termination Event of Default, as the case may be, and if the default is cured at any time prior to the delivery of a Termination Notice in accordance with Clause 13.3.3 then the non-defaulting Party shall have no right to terminate this Agreement in respect of such cured Concessionaire Event of Default or Government Event of Default, as the case may betaking into account all prevailing circumstances. 13.3.3 Subject to the provisions of Clause 13.4 and the Tripartite Financial Agreement, upon (3) Upon expiration of the cure consultation period described in Clause 13.3.2 24.3(2) and unless the Parties State and Refiner shall have otherwise agreed or unless the Concessionaire Refiner Termination Event of Default or Government State Termination Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate shall have been remedied, the Party having given State (in the Notice case of Intent to Terminate a Refiner Termination Event) or Refiner (in the case of a State Termination Event) may terminate this Agreement by delivering a notice ("Termination Notice") to the other Party, whereupon this Agreement shall terminate on the date ("Termination Date") specified in the Termination Notice, which shall not be earlier than ten (10) Business Days or later than twenty (20) Business Days following the date of delivery of the Termination Notice to the other Party Parties. Upon the delivery of a Termination Notice, the rights and obligations of the provisions Parties under this Agreement shall immediately terminate, and upon the satisfaction of Clause 14 such continuing rights and obligations, this Agreement shall applyimmediately terminate.