Common use of Notice of Intent to Terminate Clause in Contracts

Notice of Intent to Terminate. (a) If any Seller 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 Seller 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 Complex in any material respect. (b) The following cure periods (each a “Cure Period”) shall apply: (i) In the case of a Seller Event of Default arising under Section 16.1(c)(i) or a Purchaser Event of Default arising under Section 16.2(b), the Cure Period shall be forty-five (45) Days; (ii) In the case of a Seller Event of Default arising under Section 16.1(c)(ii), the Cure Period shall be five (5) Business Days; and (iii) In the case of any other Purchaser Event of Default or any other Seller Event of Default, as the case may be, the Cure Period shall be ninety (90) 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. (a) If any Seller Company Event of Default or Power 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 Seller Company Event of Default or the Power 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 Complex in any material respect. (b) The following cure periods (each a “Cure Period”) shall apply: (i) In the case of a Seller Company Event of Default arising under Section 16.1(c)(i) or a Power Purchaser Event of Default arising under Section 16.2(b), the Cure Period shall be forty-five (45) Days; (ii) In the case of a Seller Company Event of Default arising under Section 16.1(c)(ii), the Cure Period shall be five (5) Business Days; and (iii) In the case of any other Power Purchaser Event of Default or any other Seller Company Event of Default, as the case may be, the Cure Period shall be ninety (90) Days; in each case from the date the relevant Notice of Intent to Terminate is deemed to have been delivered.