Preliminary Termination Notice definition
Examples of Preliminary Termination Notice in a sentence
Following the issue of a Nodal Agency’s Preliminary Termination Notice, the Consultation Period shall apply and would be for the Parties to discuss as to what steps shall be taken with a view to mitigate the consequences of the relevant Event of Default having regard to all the circumstances.
Upon the occurrence and continuance of any TSP’s Event of Default under Article 13.1 the Nodal Agency may serve notice on the TSP, with a copy to the STU and the Lenders’ Representative, of their intention to terminate this Agreement (a "Nodal Agency’s Preliminary Termination Notice"), which shall specify in reasonable detail, the circumstances giving rise to such Nodal Agency’s Preliminary Termination Notice.