Examples of Defaulting Party in a sentence
When a Party believes that the other Party is in violation of a material term or condition of this Agreement (“Defaulting Party”), it shall provide written notice to such Defaulting Party of such violation prior to commencing the dispute resolution procedures set forth in Section 28.3 and it shall be resolved in accordance with the procedures established in Section 28.3.
If the Consortium Agreement has been terminated pursuant to Section 3.2.3, the Defaulting Party shall bear all actual and reasonable costs incurred by the other Party under the Project as a result of the Defaulting Party’s breach of obligations, provided that the reimbursement of such cost towards the other Party shall be limited to the total Budget.
In addition, Notice of termination of this Agreement under Section 11.3 must contain the information required by Section 11.3 and, where Utility is the Defaulting Party, must be sent to the attention of the then-current President and General Counsel of Utility as required by (and subject to the terms of) Section 11.3, and where Seller is the Defaulting Party, must be sent to the attention of the then- current President and General Counsel of Seller subject to the terms of Section 11.3.
Access Rights granted to a Defaulting Party and such Party's right to request Access Rights shall cease immediately upon receipt by the Defaulting Party of the formal notice by the non-Defaulting Party.
When a Party believes that the other Party is in violation of a term or condition of this Agreement (“ Defaultine Party”), it will provide written notice to such Defaulting Party of such violation prior to commencing the dispute resolution procedures set forth in Section 16.