Common use of Termination upon occurrence of Financial Default Clause in Contracts

Termination upon occurrence of Financial Default. At any time after issue of a Notice of Financial Default, the Lenders’ Representative may by a notice in writing require the Railway Administration to terminate the Concession Agreement forthwith, and upon receipt of such notice, the Railway Administration shall undertake Termination under and in accordance with the provisions of the Concession Agreement.

Appears in 3 contracts

Sources: Concession Agreement, Automobile Freight Train Operation Agreement, Concession Agreement