Purchaser Events of Default. Each of the following events or circumstances constitutes an event of default by the Purchaser (each, a “Purchaser Event of Default”): (a) the Purchaser fails to pay for Finished Cobalt Delivered to the Purchaser in accordance with Section 2.5 within 10 Business Days of receipt of written notice from the Seller notifying the Purchaser of such default (the “Payment Default Notice”); (b) any of the representations or warranties given by the Purchaser is inaccurate in any material respect (or in any respect in the case of representations and warranties that are qualified by materiality) as of the date given, and such inaccuracy is not remedied within a period of 30 days following delivery by the Seller to the Purchaser of written notice of such inaccuracy, or such longer period of time as the Seller may determine in its sole discretion; and (c) the Purchaser is in breach of Section 16.13(c).
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Sources: Purchase and Sale Agreement, Purchase and Sale Agreement