Notification of Default and Cure Plan Sample Clauses

Notification of Default and Cure Plan. If a default occurs, the party not in default may, in addition to any other remedies it has, give the defaulting party a Default Notice by indicating that it requires the defaulting party to provide to it a written Cure Plan which specifies the reason the default occurred, how the defaulting party intends to remedy the default and the time that the defaulting party will require to remedy the default including additional information on such matters as the party not in default requires. A reasonable time shall be set by which the defaulting party must provide the Cure Plan. All parties shall agree on the Cure Plan and if no agreement can be reached, the parties shall refer the matter to the Regulatory Board for a resolution.
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Notification of Default and Cure Plan f a default occurs, the party not in default may, in addition to any other remedies it has, give the defaulting party a Default Notice by indicating that it requires the defaulting party to provide to t a written Cure Plan which specifi es the reason the default occurred, how the defaulting party Water Services Regulatory Board – Service Provision Agreement for Category II ntends to remedy the default and the time that the defaulting party will require to remedy the default including additional information on such matters as the party not in default requires. A reasonable time shall be set by which the defaulting party must provide the Cure Plan. Both par-ties shall agree on the Cure Plan and if no agreement can be reached, the parties shall refer the matter to the Regulatory Board for a resolution.
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Notification of Default and Cure Plan. If a default occurs, the party not in default may, in addition to any other remedies it has, give the defaulting party a Default Notice by indicating that it requires the defaulting party to provide to it a written Cure Plan which specifies the reason the default occurred, how the defaulting party intends to remedy the default and the time that the defaulting party will require to remedy the default including additional information on such matters as the party not in default requires. A reasonable time shall be set by which the defaulting party must provide the Cure Plan. All parties shall agree on the Cure Plan and if no agreement can be reached, the parties shall refer the matter to the Regulatory Board for a resolution. Failure to Cure If the default has not been cured or remedied as agreed in the Cure Plan, or the defaulting party does not submit an acceptable Cure Plan or does not implement any cure plan diligently, the party not in default may, without prejudice to any of its other Rights with respect to the default, seek civil remedies in a court of law claiming damages and all the undertakings given under this SPA shall be enforced. Damages If the Service Provider fails to pay for the Services or otherwise to comply with this SPA, then to the extent that the failure does not result from an unavailability of the Facilities or other fault of the BWS , the Provider shall be liable to compensate the BWS for losses suffered by the BWS as a result of the Provider’s failure. Force Majeure
Sample 1
Notification of Default and Cure Plan. If a default occurs, the party not in default may, in addition to any other remedies it has, give the defaulting party a Default Notice by indicating that it requires the defaulting party to provide to it a written Cure Plan which specifies the reason the default occurred, how the defaulting party intends to remedy the default and the time that the defaulting party will require to remedy the default including additional information on such matters as the party not in default requires. A reasonable time shall be set by which the defaulting party must provide the Cure Plan. Both par- ties shall agree on the Cure Plan and if no Agreement can be reached, the parties shall refer the matter to the Regulatory Board for a resolution. Water Services Regulatory Board – Service Provision Agreement for Category I 37 15.2 Failure to Cure If the default has not been cured or remedied as agreed in the Cure Plan, or the defaulting party does not submit an acceptable Cure Plan or does not implement any cure plan diligently, the party not in default may, without prejudice to any of its other rights with respect to the default, terminate this SPA with the prior consent written of the Regulatory Board.
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Related to Notification of Default and Cure Plan

  • Notification of default (a) Each Obligor shall notify the Agent of any Default (and the steps, if any, being taken to remedy it) promptly upon becoming aware of its occurrence (unless that Obligor is aware that a notification has already been provided by another Obligor).

  • Default and Consequences of Default 18.1 Interest on overdue invoices shall accrue daily from the date when payment becomes due, until the date of payment, at a rate of two and a half percent (2.5%) per calendar month (and at the Supplier’s sole discretion such interest shall compound monthly at such a rate) after as well as before any judgment.

  • Notification of Defaults and Events of Default Each Lender hereby agrees that, upon learning of the existence of a Default or an Event of Default, it shall promptly notify the Administrative Agent thereof. The Administrative Agent hereby agrees that upon receipt of any notice under this §14.10 it shall promptly notify the other Lenders of the existence of such Default or Event of Default.

  • Termination of Default An Event of Default shall be deemed to have been terminated upon the earliest to occur of:

  • Default and Foreclosure 5 3.1 Remedies....................................................... 5 3.2

  • Notification of Event of Default Borrower shall notify Agent immediately of the occurrence of any Event of Default.

  • Notice of Events of Default The Issuer shall give a Responsible Officer of the Indenture Trustee and each Rating Agency prompt written notice of each Event of Default hereunder and each default on the part of the Servicer or the Seller of its obligations under the Sale and Servicing Agreement.

  • Notice of Event of Default If the Mortgagee shall have Actual Knowledge of an Event of Default or of a Default arising from a failure to pay Rent, the Mortgagee shall give prompt written notice thereof to the Owner Trustee, the Owner Participant, Lessee, and each Note Holder. Subject to the terms of Sections 2.13, 4.03, 4.04, 4.08, 5.02 and 5.03 hereof, the Mortgagee shall take such action, or refrain from taking such action, with respect to such Event of Default or Default (including with respect to the exercise of any rights or remedies hereunder) as the Mortgagee shall be instructed in writing by a Majority in Interest of Note Holders. Subject to the provisions of Section 5.03, if the Mortgagee shall not have received instructions as above provided within 20 days after mailing notice of such Event of Default to the Note Holders, the Mortgagee may, subject to instructions thereafter received pursuant to the preceding provisions of this Section 5.01, take such action, or refrain from taking such action, but shall be under no duty to take or refrain from taking any action, with respect to such Event of Default or Default as it shall determine advisable in the best interests of the Note Holders; PROVIDED, HOWEVER, that the Mortgagee may not sell the Aircraft or any Engine without the consent of a Majority in Interest of Note Holders. For all purposes of this Trust Indenture, in the absence of Actual Knowledge on the part of the Mortgagee, the Owner Trustee or the Owner Participant, the Mortgagee, the Owner Trustee or the Owner Participant, as the case may be, shall not be deemed to have knowledge of a Default or an Event of Default (except, in the case of the Mortgagee, the failure of Lessee to pay any installment of Basic Rent within one Business Day after the same shall become due, if any portion of such installment was then required to be paid to the Mortgagee, which failure shall constitute knowledge of a Default) unless notified in writing by Lessee, the Owner Trustee, the Owner Participant or one or more Note Holders.

  • Default and Remedies Either of the following constitutes cause to declare this Contract, or any Participating Entity order under this Contract, in default:

  • Performance Default and Remedies Subsection B. DEFAULT AND REMEDIES, second paragraph of the Contract is modified as follows (underlined language is added and stricken language is deleted): “Written notice of default and a reasonable 30-day opportunity to cure must be issued by the party claiming default.”

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