Common use of Notice of Intent to Terminate Clause in Contracts

Notice of Intent to Terminate. 20.1 If any Producer Event of Default or Purchaser Event of Default, as the case may be, occurs and is continuing, the non-defaulting Party may deliver a notice (“Notice of Intent to Terminate”) to the defaulting Party which notice shall specify in reasonable detail the Producer Event of Default or the Purchaser Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate, including, as applicable, whether such event of default does not affect the Generator in any material respect. 20.2 In addition the occurrence of Event of Default, the Producer‟s has a right to voluntarily terminate this Agreement, in which case the Producer may deliver a notice (“Notice of Intent to Terminate”) to the Purchaser at least 6 months prior to beginning of each Agreement Year. 20.3 The following cure periods (each a “Cure Period”) shall apply: (a) In the case of a Purchaser Event of Default arising under Article 19.1 (a) the Cure Period shall be forty-five (45) Days; and (b) In the case of any other Purchaser Event of Default or any other Producer Event of Default, as the case may be, the Cure Period shall be ninety (90) Days. (c) In the case of Producer‟s notice to voluntarily terminate the Agreement, the Cure Period shall be ninety (180) Days, in each case from the date the relevant Notice of Intent to Terminate is deemed to have been delivered.

Notice of Intent to Terminate. 20.1 Article 17 (1) If any Privileged Producer Event of Default or Purchaser Event of Default, as the case may be, occurs and is continuing, the non-defaulting Party may deliver a written notice (“Notice of Intent to Terminate”) to the defaulting Party which notice shall specify in reasonable detail the Privileged Producer Event of Default or the Purchaser Event of Default, as the case may be, giving rise to the Notice of Intent to Terminate, including, as applicable, whether such event of default does not affect the Generator Solar PV Plant in any material respect. 20.2 (2) In addition the occurrence of Event of Default, the Producer‟s Privileged Producer’s has a right to voluntarily terminate this Agreement, in which case the Producer may deliver a written notice (“Notice of Intent to Terminate”) to the Purchaser at least 6 months prior to beginning of each Agreement Year. 20.3 The (3) Unless otherwise stated, the following cure periods (each a “Cure Period”) shall apply: (a1) In the case of a Purchaser Event of Default arising under Article 19.1 (a) the Cure Period shall be forty-five (45) Days; and (b) In the case of any other Purchaser Event of Default or any other Producer Event of Default, as the case may be, the Cure Period shall be ninety one hundred and twenty (90120) Days., (c2) In the case of Producer‟s Privileged Producer’s notice to voluntarily terminate the Agreement, the Cure Period shall be ninety one hundred and eighty (180) Days, 3) In the case of Prolonged Force Majeure, there shall be no Cure Period, in each case from the date the relevant Notice of Intent to Terminate is deemed to have been delivered. (4) In the event of Cure Period has occurred, Article 2 paragraph (2) of this Agreement shall be extended for the duration of Cure Period on a Day-for-Day basis, nevertheless the commutative extension of such period shall not exceed 365 days in aggregate. (5) In case when the Direct Agreement is enforced, the Notice of Intent to Terminate as per Article 20 paragraph (1) of this Agreement when issued by the Purchaser to the Privileged Producer at the same time is sent to the financing parties and to the Agent as provided in the Project Development Agreement. (6) Either Party shall be entitled to deliver a Notice of Intent to Terminate this Agreement in the event of a Prolonged Force Majeure that has excused Privileged Producer from the delivery of Net Delivered Electricity under this Agreement.