Termination of a Defaulting Party. 14.2 The remaining Parties acting in agreement may, at any time terminate a Defaulting Party's participation in the Agreement by notice in writing to the Defaulting Party where such default is not capable of remedy or, where capable of remedy, has not been remedied within two (2) weeks of the Defaulting Party receiving notification of such default.
Termination of a Defaulting Party. The Parties may decide on the total or partial termination of the Agreement with regard to a Party (the Defaulting Party) in the event of non-performance by such latter Party, of one or more of its obligations pursuant to this Consortium Agreement. Such termination may take place 60 calendar days after formal notice sent by the Steering Committee to the Defaulting Party unless, within such period, the Defaulting Party: - has fulfilled its obligations, or - has proposed a replacement solution which is as close as possible to the objective sought. This solution must be expressly accepted by the other Parties and the Funding Authority. The exclusion of the Defaulting Party is pronounced by the Steering Committee.
