Examples of Demanding Party in a sentence
If any non-performance is not cured within the applicable time period set forth in this paragraph, then the Demanding Party shall be entitled to begin the mediation and arbitration proceedings set forth in this paragraph.
If either Party (the “Demanding Party”) has a good faith belief that the other Party (the “Responding Party”) is not complying with the terms of this Agreement, the Demanding party shall give written notice of the purported default in performance (“Default”), providing sufficient specificity of the alleged Default so that the Responding Party is capable of responding to the Demanding Party, and demand the Default to be cured within fifteen (15) days of receiving the notice.
The Title Company shall pay the Deposit to the Demanding Party unless the other Party, within ten (10) days following the delivery of the Demand to the other Party, shall deliver written notice (the “Dispute Notice”) to the Title Company and the Demanding Party stating that the other Party disputes the right of the Demanding Party to receive payment of the Deposit.
If the other Party fails to timely deliver a Dispute Notice to the Title Company and the Demanding Party, the Title Company, promptly upon the expiration of such ten (10) day period, shall pay the Deposit to the Demanding Party without further authorization or direction from the other Party and conclusively shall be discharged and released from any liability or obligation to the other Party with respect to such payment.
If the Responding Party fails to cure the Default within fifteen (15) days of receiving the notice, of if more than fifteen (15) days are reasonably required to cure the Default and the Responding Party fails to give adequate written assurance of cure of the Default within fifteen (15) days of receiving the notice, then the Demanding Party may terminate this Agreement upon thirty (30) days written notice to the Responding Party.