Examples of Default Termination Notice in a sentence
Each Standby Letter of Credit shall contain a provision authorizing the Issuing Bank that issued such Letter of Credit to deliver to the beneficiary of such Letter of Credit, upon the occurrence and during the continuance of an Event of Default, a notice (a "Default Termination Notice") terminating such Letter of Credit and giving such beneficiary 15 days to draw such Letter of Credit.
During the period after the Lease Termination Date or the effective date of a Default Termination Notice or the effective date of a Termination Notice for Extensive Damage or Destruction of Improvements, as applicable, until the date on which Lessee satisfies its obligations under Section 10.1, all obligations set forth in Articles XI, XIII, and XV, and Sections 16.2.2, 16.3.3 and 16.4 shall remain in full force and effect.
If the CfD Counterparty gives a Default Termination Notice to the Generator, this Agreement shall terminate on the Designated Termination Date even if the Termination Event is no longer continuing on the Designated Termination Date.
Each Letter of Credit shall contain a provision authorizing the Issuing Bank that issued such Letter of Credit to deliver to the beneficiary of such Letter of Credit, upon the occurrence and during the continuance of an Event of Default, a notice (a "Default Termination Notice") terminating such Letter of Credit and giving such beneficiary 15 days to draw such Letter of Credit.
The termination shall be effective thirty (30) days after the date of the Default Termination Notice, provided such notice is properly delivered by certified mail or by overnight mail (the “Default Termination Effective Date”).