Common use of Defaulting Participant Clause in Contracts

Defaulting Participant. In the event that the Steering Committee identifies a breach by a Participant of its obligations under this Consortium Umbrella Agreement or the Consortium Project Agreement (e.g. improper implementation of the program), the Program Coordinator or, if the Program Coordinator is in breach of its obligations, the Participant appointed by the Steering Committee, will give written notice to such Participant requiring that such breach will be remedied within 30 (thirty) calendar days from the date of receipt of the written notice by the Participant. If such breach is substantial and is not remedied within that period or is not capable of remedy, the Steering Committee may decide to declare the Participant to be a Defaulting Participant and may terminate its participation in accordance with Section 3.4.2, unless such termination is not in reasonable proportion to the consequences for the Program.

Defaulting Participant. In the event that the Steering Project Committee identifies a breach by a Participant of its obligations under this Consortium Umbrella Agreement or the Consortium Project Agreement PPP-I Subsidy Grant Letter (e.g. improper implementation of the programproject), the Program Project Coordinator or, if the Program Project Coordinator is in breach of its obligations, the Participant appointed by the Steering Project Committee, will give written notice to such Participant requiring that such breach will be remedied within 30 (thirty) calendar days from the date of receipt of the written notice by the Participant. If such breach is substantial and is not remedied within that period or is not capable of remedy, the Steering Project Committee may decide to declare the Participant to be a Defaulting Participant and may terminate its participation in accordance with Section 3.4.2, unless such termination is not in reasonable proportion to the consequences for the ProgramProject.