Termination for ESCOM’s Default Sample Clauses
The 'Termination for ESCOM’s Default' clause allows the other party to end the contract if ESCOM fails to meet its contractual obligations or breaches key terms. Typically, this clause outlines specific events or conditions that constitute default, such as non-payment, failure to perform, or insolvency, and may require ESCOM to be given notice and an opportunity to remedy the default before termination can occur. Its core function is to protect the non-defaulting party by providing a clear mechanism to exit the agreement if ESCOM does not fulfill its responsibilities, thereby allocating risk and ensuring accountability.
Termination for ESCOM’s Default. Upon the occurrence of an event of default as set out in sub-clause 9.2.2 above, the Company may deliver a Default Notice to the ...ESCOM in writing which shall specify in reasonable detail the Event of Default giving rise to the default notice, and calling upon the ESCOM to remedy the same within such reasonable time but not less than thirty days as may be specified in the notice. At the expiry of the time specified in the default notice, from the date of delivery of default notice, and unless the Parties have agreed otherwise, or the Event of Default giving rise to the Default Notice has been remedied, the Company may terminate this Agreement by delivering a Termination Notice to...ESCOM and intimate the same to the Commission. Upon delivery of the Termination Notice this Agreement shall stand terminated and the Company shall stand discharged of its obligations. Where a Default Notice has been issued with respect to an Event of Default, which requires the co-operation of both the Company and …ESCOM, to remedy, both the parties shall render all reasonable co- operations to enable the event of Default to be remedied.
Termination for ESCOM’s Default. Upon the occurrence of an Event of Default as set out in sub-clause 9.2.2 above, the Company may deliver a Default Notice to
Termination for ESCOM’s Default. Upon the occurrence of an Event of Default as set out in sub-clause 9.2.2 above, the SPD may deliver a Default Notice to ESCOM in writing which shall specify in reasonable detail the Event of Default giving rise to the Default Notice, and calling upon ESCOM to remedy the same. At the expiry of 60(Sixty) days from the delivery of this default notice and unless the Parties have agreed otherwise, or the Event of Default giving rise to the Default Notice has been remedied, SPD may deliver a Termination Notice to the ESCOM. SPD may terminate this Agreement by delivering such a Termination Notice to ESCOM and intimate the same to the Commission. Upon delivery of the Termination Notice this Agreement shall stand terminated and SPD shall stand discharged of all its obligations. Where a Default Notice has been issued with respect to an Event of Default, which requires the co-operation of both SPD and ESCOM, to remedy, SPD shall render all reasonable co-operations to enable the Event of Default to be remedied