Upon an Event of Default. If an Event of Default shall have occurred and be continuing with respect to a Defaulting Party, the other Party (the "Non-Defaulting Party") shall, at its sole discretion, have the right to take one or more of the following actions: (a) terminate this Agreement by declaring a date for its early termination (“Early Termination Date”), and calculate its Termination Payment as set forth below; (b) withhold any payment due to the Defaulting Party under this Agreement; (c) immediately suspend performance and direct the Utility to shut off your Gas service; and (d) exercise any rights and remedies under this Agreement or at law with respect to any Performance Assurance. If the Non-Defaulting Party elects to declare an Early Termination Date, it shall calculate the Termination Payment and notify the Defaulting Party of such amount as soon thereafter as is reasonably practicable.
Appears in 9 contracts
Samples: Sales Agreement, Sales Agreement, Sales Agreement
