Common use of Contents of Suspension Notice Clause in Contracts

Contents of Suspension Notice. A Suspension Notice shall specify: the nature of the relevant Event of Default; the date and time at which suspension is to take effect; in the case of a Suspension Notice served on the Train Operator, reasonable restrictions imposed while the Suspension Notice is in force on the permission to use the CVL or any parts of it; in the case of a Suspension Notice served on the CVL IM, details of any necessary suspension of the Services; and whether the party serving the Suspension Notice reasonably considers that the Event of Default is capable of remedy, and where the Event of Default is capable of remedy: the steps reasonably required to remedy the Event of Default; and a reasonable grace period for the defaulting party to remedy it (where the Event of Default which has occurred is a failure to pay Track Charges or other amounts due, 7 days shall be a reasonable grace period).

Contents of Suspension Notice. A Suspension Notice shall specify: the nature of the relevant Event of Default; the date and time at which suspension is to take effect; in the case of a Suspension Notice served on the Train Operator, reasonable restrictions imposed while the Suspension Notice is in force on the permission to use the CVL Network or any parts of it; in the case of a Suspension Notice served on the CVL IMNetwork Rail, details of any necessary suspension of the Services; and whether the party serving the Suspension Notice reasonably considers that the Event of Default is capable of remedy, and where the Event of Default is capable of remedy: the steps reasonably required to remedy the Event of Default; and a reasonable grace period for the defaulting party to remedy it (where the Event of Default which has occurred is a failure to pay Track Charges or other amounts due, 7 days shall be a reasonable grace period).

Contents of Suspension Notice. A Suspension Notice shall specify: the nature of the relevant Event of Default; the date and time at which suspension is to take effect; in the case of a Suspension Notice served on the Train Operator, reasonable restrictions imposed while the Suspension Notice is in force on the permission to use the CVL Network or any parts of it; in the case of a Suspension Notice served on the CVL IMNetwork Rail, details of any necessary suspension of the Services; and whether the party serving the Suspension Notice reasonably considers that the Event of Default is capable of remedy, and where the Event of Default is capable of remedy: the steps reasonably required to remedy the Event of Default; and a reasonable grace period for the defaulting party to remedy it (where the Event of Default which has occurred is a failure to pay Track Charges or other amounts due, 7 seven days shall be a reasonable grace period).