Common use of The CVL IM’s right to terminate Clause in Contracts

The CVL IM’s right to terminate. The CVL IM may serve a Termination Notice on the Train Operator: (a) where the Train Operator fails to comply with any material restriction in a Suspension Notice; (b) where the Train Operator fails to comply with its obligations under paragraph 2.5.3; (c) where the Train Operator Event of Default specified in paragraph 1.1(a) has occurred and is continuing; or (d) where the Train Operator Event of Default specified in a Suspension Notice served by the CVL IM is not capable of being remedied and 3 months have elapsed from the service of that Suspension Notice.

The CVL IM’s right to terminate. The CVL IM may serve a Termination Notice on the Train Operator: (a) : where the Train Operator fails to comply with any material restriction in a Suspension Notice; (b) ; where the Train Operator fails to comply with its obligations under paragraph 2.5.3; (c) ; where the Train Operator Event of Default specified in paragraph 1.1(a) has occurred and is continuing; or (d) or where the Train Operator Event of Default specified in a Suspension Notice served by the CVL IM is not capable of being remedied and 3 months have elapsed from the service of that Suspension Notice.