Common use of Defaulting Participant Clause in Contracts

Defaulting Participant. In the event that the Management Board identifies a breach by a Participant of its obligations under this Intra Consortium Agreement or the Grant Agreement (e.g. improper implementation of the project), the Research Leader or, if the Research Leader is in breach of its obligations, the Participant appointed by the Management Board, 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 Management Board 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 Project. The Management Board is further entitled to declare a Participant a Defaulting Participant in the event that the Hartstichting has terminated that Participant’s participation in accordance with Section 9.2 of the Grant Agreement.