Notice to the Lenders of the Seller’s Default. (a) Anything to the contrary in this Agreement notwithstanding, from and after the occurrence of Financial Closing, neither AEDB nor GOP shall seek to terminate this Agreement as the result of any default of the Seller without first giving a copy of any notices required to be given to the Seller under Section 14.2 (Termination Notices) to the Lenders (or the Agent), such notice to be coupled with a request to the Lenders (or the Agent) to cure any such default within the period specified in Section 14.2(b) (the “Initial Cure Period”). The Lenders shall be entitled to cure any such default within the Initial Cure Period, and such cure period shall commence upon delivery of each such notice to the Lenders (or the Agent). If there is more than one (1) Xxxxxx, the Lenders will designate in writing to the GOP in the Direct Agreement an agent (the “Agent”), and any notice required hereunder shall be delivered to such Agent, such notice to be effective upon delivery to the Agent as if delivered to each of the Lenders. Each such notice shall be in writing and shall be deemed to have been delivered (a) 19 NA for private land. when presented personally to the Lender or the Agent, (b) when transmitted by facsimile to the number specified in accordance with the procedure set forth below, or (c) five (5) Days after being deposited in a regularly maintained receptacle for the postal service in Pakistan, postage prepaid, registered or certified, return receipt requested, addressed to the Lender at the address indicated in the Direct Agreement contemplated by Section 11.2(l) or in the certificate issued pursuant to Section 18.15(e)(i), as applicable (or such other address or to the Agent at such address as the Lenders may have specified by written notice delivered in accordance herewith). Any notice given by facsimile under this Section 14.4 (Notice to the Lenders of the Seller’s Default) shall be confirmed in writing delivered personally or sent by prepaid post, but failure to so confirm shall not void or invalidate the original notice if it is in fact received by the Lender or the Agent. Notwithstanding the foregoing, if the address of the Lender or Agent is outside Pakistan, any notice delivered to the Lender or Agent pursuant to this Section 14.4 (Notice to the Lenders of the Seller’s Default) shall be sent by international courier or facsimile, and if sent by facsimile, confirmed by international courier. The address and facsimile number for Lender or Agent shall be ...
Notice to the Lenders of the Seller’s Default. The Lenders (or their designee) may make, but shall be under no obligation to make, any payment or perform or procure the performance of any act required to be made or performed by the Seller, with the same effect as if made or performed by the Seller. If the Lenders (or their designee) fail to cure, or procure the cure of, or are unable or are unwilling to cure, or procure the cure of, any Seller Event of Default within the Initial Cure Period or do not mitigate such Seller Event of Default within the Initial Cure Period, the GOP shall have all its rights and remedies with respect to such default as set forth in this Agreement; provided, however, that, notwithstanding the expiration of the Initial Cure Period, the Lenders (or their designee) shall have a further period (the “Evaluation Period”), during which the Lenders (or their designee) may evaluate such Seller Event of Default, the condition of the Complex, and other matters relevant to the actions to be taken by the Lenders (or their designee) concerning such Seller Event of Default including the possible issuance of a Notice of Intent to Succeed pursuant to Section 11.2 (Creation of Security). The Evaluation Period shall end on the sooner to occur of (i) the Agent’s delivery to AEDB of a Succession Notice as provided under Section 11.2 (Creation of Security) or (ii) forty-five
