Common use of Remedy of Default Clause in Contracts

Remedy of Default. The Authority may by written notice to the Guarantor require the Guarantor to remedy a Default (“Remedy Notice”). Any Remedy Notice issued by the Authority shall specify the Default which the Authority requires the Guarantor to rectify. The Authority may also specify a date by which the Default must be rectified, provided that, any such date shall not be earlier than the date by which the Contractor is required to carry out the relevant duty, obligation, covenant, warranty or undertaking pursuant to the Guaranteed Services Agreement. Upon receipt of a Remedy Notice, the Guarantor shall remedy, or procure the remedy of the Default as soon as practicable, and if a date for the rectification of the Default is specified by the Authority in the Remedy Notice, no later that the date specified. Without prejudice to the Guarantor’s obligations under Clause 3.2, the Guarantor shall be entitled to engage a Third Party contractor (subject to the Authority’s prior written approval of any such contractor) to remedy the Default, provided that, the Guarantor shall be responsible for all acts or omissions of such contractor. The Guarantor shall indemnify and keep the Authority indemnified and hold the Authority harmless in relation to any claims made by the Third Party contractor against the Guarantor or the Authority, to the extent such claims are not a consequence of an act or omission of the Authority.

Remedy of Default. 3.1 The Authority may by written notice to the Guarantor require the Guarantor to remedy a Default (“Remedy Notice”). Any Remedy Notice issued by the Authority shall specify the Default which the Authority requires the Guarantor to rectify. The Authority may also specify a date by which the Default must be rectified, provided that, any such date shall not be earlier than the date by which the Contractor is required to carry out the relevant duty, obligation, covenant, warranty or undertaking pursuant to the Guaranteed Services Agreement. . 3.2 Upon receipt of a Remedy Notice, the Guarantor shall remedy, or procure the remedy of the Default as soon as practicable, and if a date for the rectification of the Default is specified by the Authority in the Remedy Notice, no later that the date specified. . 3.3 Without prejudice to the Guarantor’s obligations under Clause 3.2, the Guarantor shall be entitled to engage a Third Party contractor (subject to the Authority’s prior written approval of any such contractor) to remedy the Default, provided that, the Guarantor shall be responsible for all acts or omissions of such contractor. The Guarantor shall indemnify and keep the Authority indemnified and hold the Authority harmless in relation to any claims made by the Third Party contractor against the Guarantor or the Authority, to the extent such claims are not a consequence of an act or omission of the Authority.