Common use of Deemed cure Clause in Contracts

Deemed cure. SFV agrees that a Termination Event is taken to be cured under and for the purposes of the LTESA, the PDA and this document (as applicable): (a) if it relates to a failure to pay money due under the LTESA or the PDA, when an Enforcing Party has paid or procured the payment of the amount of that money to SFV; (b) if it relates to a failure to do anything under the LTESA or the PDA, when an Enforcing Party has done, or procured to be done, that thing; (c) if it is or relates to a Change in Control or an Insolvency Event, when an Enforcing Party has procured: (i) the assignment, transfer or novation of (or any combination of these things to be done in respect of) LTES Operator’s rights and obligations under the LTESA and the PDA to a Transferee; or (ii) the transfer of the shares in LTES Operator to a Transferee, in each case, in accordance with clause 5.1 (“Transfer”); and (d) for any other Termination Event or if Security Trustee reasonably considers that the Termination Event is not able to be cured, or will not be or is unlikely to be cured by the end of any applicable cure period provided under the LTESA, the PDA or this document, when an Enforcing Party makes arrangements (which may include the taking of steps to prevent a recurrence of the Termination Event or the payment of compensation to SFV on account of loss suffered by it or by NSW Electricity Customers (or both)) which are satisfactory to SFV (acting reasonably).