Notice of Payment Default. In the event of a Payment Default by Purchaser, on or promptly following the Initial Payment Default Date SCPPA shall issue a Default Invoice and shall provide written notice to Purchaser that as a result of a Payment Default, it is in default under this Agreement and has assumed the status of a Defaulting Purchaser and that Purchaser’s Project Rights are subject to discontinuance, termination and disposal in accordance with Sections 11.4 and 11.5 of this Agreement. Notice of such Payment Default shall be provided promptly by SCPPA to the other SCPPA Participants. In addition to the foregoing, the notice of Payment Default shall specify that five (5) Days after the issuance of the written notice of Payment Default by SCPPA, deliveries of Facility Products to Purchaser pursuant to this Agreement shall be thereafter suspended until such time as Purchaser is in Compliance. SCPPA may take any action through or in conjunction with the Power Purchase Provider or any other counterparty under a Project Agreement or with the Project Manager, if applicable, to expeditiously implement the provisions of this Section 11.
Notice of Payment Default. (a) If the Issuer determines that a Payment Default has occurred the Issuer shall promptly notify the Trustee thereof.
Notice of Payment Default. In the event of any failure by Licensee to make timely payment of the Guaranteed Minimum Royalties, Licensor may delivery to Licensee an initial notice describing the payment default (such payment default, a “GMR Default” and such notice, an “Initial GMR Default Notice”). If the default remains uncured after ten (10) days of the date of Licensee’s receipt of the Initial GMR Default Notice, Licensor will provide Licensee with a second notice describing the payment default. If the payment default remains uncured after ten (10) days of the date of Licensee’s receipt of such second notice, Licensor will provide Licensee with a third notice describing the payment default (a “Third Default Notice”). Licensee may cure any failure to make timely payment at any time by paying the unpaid amounts and the interest assessed thereto (the “Unpaid GMR”). For sake of clarity, interest will accrue on any unpaid amounts beginning the date such amounts become due in accordance with Section 3.H.
Notice of Payment Default. Each Bank that has made a Bid Loan pursuant to this subsection 2.22 shall notify the Agent and the Borrower as soon as practicable, and in no event later than 9:00 a.m. (Minneapolis time) on the Business Day immediately following the date payment is due with respect to such Bid Loan pursuant to paragraph (h) of this subsection 2.22, of any failure by the Borrower to remit the amounts payable pursuant to subparagraph (h) of this subsection 2.22, and PROVIDED, HOWEVER, that failure by any Bank to give notice as required by this sentence shall not release the Borrower from, nor have any other effect on, such obligation to remit.
Notice of Payment Default. Promptly following a Payment Default by a Participant, SCPPA shall provide written notice to such Participant that as a result of a Payment Default it is a Defaulting Project Participant whose rights, including its Contract Shares, under its Power Sales Agreement are subject to discontinuance, termination and disposal within 30 days of the date of such notice. Notice of such Payment Default shall be provided promptly by SCPPA to all other Participants.
Notice of Payment Default. Each Bank that has created and discounted a Bid Banker’s Acceptance pursuant to this subsection 2.19 shall notify the Administrative Agent and the Company as soon as practicable, and in no event later than 9:00 a.m. (Minneapolis, Minnesota time) on the Business Day immediately following the date payment is due with respect to such Bid Banker’s Acceptance pursuant to clause (h) of this subsection 2.19, of any failure by the Companies to remit the amounts payable pursuant to clause (h) of this subsection 2.19, and provided, however, that failure by any Bank to give notice as required by this sentence shall not release the Companies from, nor have any other effect on, such obligation to remit.
Notice of Payment Default. No Seller shall have any obligation to notify Participant of any Default. No Seller shall have any responsibility to make any determination, from any information in its possession or by making inquiries, as to the existence of a default in payment by any Borrower under the Loan Documents or the occurrence and existence of any Default.
Notice of Payment Default. The term “
Notice of Payment Default. 59 6.17 Eligibility; Disqualification...................................................... 59 6.18 Preferential Collection of Claims Against Issuer................................... 60
Notice of Payment Default. The Issuer will give written notice to the Trustee (with a copy of such notice to Moody's), promptly and in any event within ten days after the Issuer becomes aware of the occurrence, of any Payment Default, accompanied by an Officers' Certificate of the Issuer setting forth the details thereof and stating what action that the Issuer proposes to take with respect thereto.
