DEFAULT BY MAXCOM Sample Clauses

DEFAULT BY MAXCOM. If Maxcom (i) fails to make payments in accordance with Article 2 relating to the Acquired Capacity or Article 3 relating to any Optioned Capacity, or (ii) makes use of the Acquired Capacity or the Optioned Capacity in any manner other than as agreed to under this Capacity Sale Agreement, then Metro Net may notify Maxcom in writing of such failure, setting out in such notice the details of amounts considered to be due but unpaid, or the nature of the non-complying use, the date or dates upon which the non-complying use occurred and the remedy required by Metro Net for cure. If Maxcom fails to cure (i) the non-payment as to which notice is given within 10 (ten) days after its receipt of the corresponding notice, or (ii) the non-complying use as to which notice is given within 30 (thirty) days after its receipt of the corresponding notice, then an Event of Default shall be deemed to have occurred. Metro Net shall have the right to collect interest on the unpaid amount at the rate equal to the sum of the London Interbank Offering Rate as published by the Wall Street Journal on the date of the invoice as to which payment is due, plus 10 (ten) percentage points.