Template:GTMA Master Agreement 2004 12.2: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{gtmaprov|12.2}} '''{{gtmaprov|Suspension}}'''<br> Notwithstanding any other provision of this Agreement, after the occurrence of:<br> :{{gtmaprov|12.2.1}} an {{gtmaprov|Even...") |
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:{{gtmaprov|12.2.1}} an {{gtmaprov|Event of Default}}; or <br> | :{{gtmaprov|12.2.1}} an {{gtmaprov|Event of Default}}; or <br> | ||
:{{gtmaprov|12.2.2}} an event which, with the giving of notice or the passage of time or both would constitute an {{gtmaprov|Event of Default}},<br> | :{{gtmaprov|12.2.2}} an event which, with the giving of notice or the passage of time or both would constitute an {{gtmaprov|Event of Default}},<br> | ||
with respect to a Party, the other Party (the "Suspending Party") may do one or more of:<br> | with respect to a {{gtmaprov|Party}}, the other Party (the "{{gtmaprov|Suspending Party}}") may do one or more of:<br> | ||
:{{gtmaprov|12.2.3}} withhold or suspend payments under this Agreement;<br> | :{{gtmaprov|12.2.3}} withhold or suspend payments under this Agreement;<br> | ||
:{{gtmaprov|12.2.4}} suspend its compliance with clause 5; or <br> | :{{gtmaprov|12.2.4}} suspend its compliance with clause 5; or <br> | ||
:{{gtmaprov|12.2.5}} if the other Party is the {{gtmaprov|ECV Notification Agent}}, require the {{gtmaprov|ECV Notification Agent}} to cease complying with clause {{gtmaprov|5}} by giving a written notice to the {{gtmaprov|ECV Notification Agent}}, <br> | :{{gtmaprov|12.2.5}} if the other Party is the {{gtmaprov|ECV Notification Agent}}, require the {{gtmaprov|ECV Notification Agent}} to cease complying with clause {{gtmaprov|5}} by giving a written notice to the {{gtmaprov|ECV Notification Agent}}, <br> | ||
in addition to any other remedies that the {{gtmaprov|Suspending Party}} may have, subject to clause {{gtmaprov|13}}.<br> | in addition to any other remedies that the {{gtmaprov|Suspending Party}} may have, subject to clause {{gtmaprov|13}}.<br> | ||
Revision as of 15:59, 16 July 2012
12.2 Suspension
Notwithstanding any other provision of this Agreement, after the occurrence of:
- 12.2.1 an Event of Default; or
- 12.2.2 an event which, with the giving of notice or the passage of time or both would constitute an Event of Default,
with respect to a Party, the other Party (the "Suspending Party") may do one or more of:
- 12.2.3 withhold or suspend payments under this Agreement;
- 12.2.4 suspend its compliance with clause 5; or
- 12.2.5 if the other Party is the ECV Notification Agent, require the ECV Notification Agent to cease complying with clause 5 by giving a written notice to the ECV Notification Agent,
in addition to any other remedies that the Suspending Party may have, subject to clause 13.