If the Seller sends an invoice to the Purchaser for Estimated Production pursuant to the preceding paragraph, and the Seller subsequently determines that it has either overestimated or underestimated the actual production, then the Seller will adjust the next bill downwards (to refund the overbilling) or upwards (to make up for the lost billing), as the case may be. EVENTS OF DEFAULT The Purchaser shall be in default under this Agreement if any one of the following events occur: (a) The Purchaser fails to make payment of any amount due and such failure continues for a period of 30 days after receipt of written notice of such (b) The Purchaser fails to perform any obligation specified under this Agreement and fails to commence (and thereafter diligently proceed with) appropriate steps to remedy such failure within a period of 60 days from the date of written notice identifying the breach and requiring the remedy of the breach; or (c) The Purchaser makes an assignment for the benefit of creditors, admits in writing its insolvency, files or there is filed against it a voluntary petition in bankruptcy, is adjudicated bankrupt or insolvent or undertakes or experiences any substantially similar activity. The Seller shall be in default under this Agreement if any one of the following events occur: (a) The Seller fails to perform any obligation specified under this Agreement and fails to commence (and thereafter diligently proceed with) appropriate steps to remedy such failure within a period of 60 days from the date of written notice identifying the breach and requiring the remedy of the breach. (b) The Seller makes an assignment for the benefit of creditors, admits in writing its insolvency, files or there is filed against it a voluntary petition in bankruptcy, is adjudicated bankrupt or insolvent or undertakes or experiences any substantially similar activity. REMEDIES IN THE CASE OF DEFAULT/TERMINATION If there is an event of default by the Purchaser under Clause 13.1, the Seller may take any one or more of the following actions. The Seller may: (a) terminate this Agreement by giving written notice to the Purchaser of such breach and the intention to terminate this Agreement, which termination shall be effective on a date specified by the Seller that is no earlier than 30 days following the date of such notice;
If the Seller sends an invoice to the Purchaser for Estimated Production pursuant to the preceding paragraph, and the Seller subsequently determines that it has either overestimated or underestimated the actual production, then the Seller will adjust the next bill downwards (to refund the overbilling) or upwards (to make up for the lost billing), as the case may be. EVENTS OF DEFAULT The Purchaser shall be in default under this Agreement if any one of the following events occur: (a) The Purchaser fails to make payment of any amount due and such failure continues for a period of 30 days after receipt of written notice of such (b) The Purchaser fails to perform any obligation specified under this Agreement and fails to commence (and thereafter diligently proceed with) appropriate steps to remedy such failure within a period of 60 days from the date of written notice identifying the breach and requiring the remedy of the breach; or (c) The Purchaser makes an assignment for the benefit of creditors, admits in writing its insolvency, files or there is filed against it a voluntary petition in bankruptcy, is adjudicated bankrupt or insolvent or undertakes or experiences any substantially similar activity. The Seller shall be in default under this Agreement if any one of the following events occur: (a) The Seller fails to perform any obligation specified under this Agreement and fails to commence (and thereafter diligently proceed with) appropriate steps to remedy such failure within a period of 60 days from the date of written notice identifying the breach and requiring the remedy of the breach. (b) The Seller makes an assignment for the benefit of creditors, admits in writing its insolvency, files or there is filed against it a voluntary petition in bankruptcy, is adjudicated bankrupt or insolvent or undertakes or experiences any substantially similar activity. REMEDIES IN THE CASE OF DEFAULT/TERMINATION If there is an event of default by the Purchaser under Clause 13.1, the Seller may take any one or more of the following actions. The Seller may: (a) terminate this Agreement by giving written notice to the Purchaser of such breach and the intention to terminate this Agreement, which termination shall be effective on a date specified by the Seller that is no earlier than 30 days following the date of such notice;
02-SolarPV-PrivatePowerPurchaseAgreementTemplate-EN-20171031-v1.3.docx