Common use of A DSC Default is Clause in Contracts

A DSC Default is. (a) a material Default (that is not a Credit Default) by the Customer that is either: (i) incapable of remedy; or (ii) not remedied by the Customer within ten (10) Business Days of being notified of the Default by the Customer; (b) the Customer persistently committing Defaults (which are not Credit Defaults) which, when taken together, constitute a material Default; (c) an Insolvency Event affecting the Customer; or (d) an event or circumstance referred to in the Credit Policy as a DSC Default.

A DSC Default is. ‌ (a) a material Default (that is not a Credit Default) by the Customer that is either: (i) incapable of remedy; or (ii) not remedied by the Customer within ten (10) Business Days of being notified of the Default by the Customer; (b) the Customer persistently committing Defaults (which are not Credit Defaults) which, when taken together, constitute a material Default; (c) an Insolvency Event affecting the Customer; or (d) an event or circumstance referred to in the Credit Policy as a DSC Default.