Common use of Defect Notices Clause in Contracts

Defect Notices. TOK shall give prompt notice to Courtland of the occurrence, or failure to occur, at any time from the date hereof until the Effective Date, of any event or state of facts which occurrence or failure would, or would be likely to, result in the failure to satisfy the conditions described in Sections 9.3(a) or (b) before the Effective Date. Courtland may not elect not to complete the transactions contemplated hereby (pursuant to the non- fulfilment of any condition precedent or any termination right arising therefrom) unless forthwith (and in any event prior to the filing of the Articles of ▇▇▇▇▇▇), ▇▇▇▇▇▇▇▇▇ has delivered a written notice (“▇▇▇▇▇▇▇▇▇’s Defect Notice”) to TOK specifying in the matters (the “TOK Defects”) which the party delivering such notice is asserting as the basis for the non fulfilment of the applicable condition precedent or termination right, as the case may be.

Defect Notices. TOK Courtland shall give prompt notice to Courtland TOK of the occurrence, or failure to occur, at any time from the date hereof until the Effective Date, of any event or state of facts which occurrence or failure would, or would be likely to, result in the failure to satisfy the conditions described in Sections 9.3(a9.6(a) or (b) before the Effective Date. Courtland TOK may not elect not to complete the transactions contemplated hereby (pursuant to the non- non-fulfilment of any condition precedent or any termination right arising therefrom) unless forthwith (and in any event prior to the filing of the Articles of ▇▇▇▇▇▇), ▇▇▇▇▇▇▇▇▇ TOK has delivered a written notice (“▇▇▇▇▇▇▇▇▇TOK’s Defect Notice”) to TOK Courtland specifying in the matters (the “TOK Courtland Defects”) which the party delivering such notice is asserting as the basis for the non fulfilment of the applicable condition precedent or termination right, as the case may be.