Common use of Deemed cure Clause in Contracts

Deemed cure. The Commonwealth agrees that a Termination Event is taken to be cured under and for the purposes of the CISA and this Deed (as applicable): if it relates to a failure to pay money due under the CISA, when an Enforcing Party has paid or procured the payment of the amount of that money to the Commonwealth; if it relates to a failure to do anything under the CISA, when an Enforcing Party has done, or procured to be done, that thing; if it is or relates to a Change in Control or an Insolvency Event, when an Enforcing Party has procured: the assignment, transfer or novation of (or any combination of these things to be done in respect of) the Operator’s rights and obligations under the CISA to a Transferee; or the transfer of the shares in the Operator to a Transferee, in each case, in accordance with clause 5.1 (Transfer); and 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 CISA or this Deed, 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 the Commonwealth (or both)) which are satisfactory to the Commonwealth. Transfer following enforcement