Increased Cost Notice definition
Examples of Increased Cost Notice in a sentence
Upon receiving an Increased Cost Notice, the Customer, through its designated representative, shall, within ten (10) days, either (a) make payment for the Additional Cost, or (b) dispute the Additional Cost described in the Increased Cost Notice.
If the Customer chooses option (b), the Company may, at its option and upon notice to the Customer (y) suspend performance under this Agreement until the dispute is resolved and the required payment for the Additional Cost is made, or (z) if the dispute is not resolved within ninety (90) days from the date the Customer receives the Increased Cost Notice, terminate this Agreement.
If the Customer chooses option (b), the Company may, at its option and upon notice to the Customer suspend performance under this Agreement until the dispute is resolved and the required payment for the Additional Cost is made, or if the dispute is not resolved within ninety (90) days from the date the Customer receives the Increased Cost Notice, terminate this Agreement.
In the event that the Company determines to terminate such Bank’s Commitment and obligation to make Loans hereunder, the Company shall send written notice to such Bank within 15 days of the Company’s receipt of the Increased Cost Notice specifying a date at least 30 days thereafter on which such Bank’s Commitment and obligation to make Loans hereunder shall be terminated.
Each Bank and the Swing Line Lender, as the case may be, hereby agrees that any Increased Cost Notice from it to the Borrowers shall be delivered to the Borrowers no later than 90 days following the end of any financial period with respect to which such compensation is sought.