Party 2 definition
Examples of Party 2 in a sentence
The Party that establishes the OBF shall: (1) explain the reliability need to the other Party; (2) describe how the OBF addresses the identified reliability need; and (3) identify the expected long-term solution to address the reliability need.
The compensation shall include an amount to compensate losses for any delay in payment that may occur from the date of expropriation until the date of payment provided that the delay of payment is caused by the Contracting Party 2.
The Confidential Information does not include (1) any information that one Party already knows at the time such information is disclosed to such Party by the other Party; (2) any information that becomes public known or generally available not because of either Party’s illegal conduct; or (3) the information lawfully obtained by one Party from a third party authorized to make the disclosure.
There are three methods of interconnecting facilities: (1) interconnection via facilities owned, provisioned and/or provided by either Party to the other Party; (2) physical collocation; and (3) virtual collocation where physical collocation is not practical for technical reasons or because of space limitations.
If either of the Parties is in default as described above, then (A) if Customer is in default, TLO may or (B) if TLO is in default, Customer may: (1) terminate this Agreement upon notice to the defaulting Party; (2) withhold any payments due to the defaulting Party under this Agreement; and/or (3) pursue any other remedy at law or in equity.