Common use of Termination 2 Clause in Contracts

Termination 2. 6.1 BY THEULB Save as otherwise provided in this Concession Agreement, in the event that any of the defaults specified below shall have occurred, and the Concessionaire/Agency fails to cure the default within the Cure Period set forth below, or where no Cure Period is specified, then within a Cure Period of 60 (sixty) days, the Concessionaire/Agency shall be deemed to be in default of this Concession Agreement (a “Concessionaire/Agency Default”), unless the default has occurred solely as a result of any breach of this Concession Agreement by the ULB or due to Force Majeure. In case of occurrence of the below mentioned Concessionaire/Agency Default, the ULB/Authority shall be entitled to take action for termination as per this clause or issue suspension notice in accordance with clause GC 2.