Define: Default Notice
any notice served on the Mutual by the Council notifying the Mutual of either a Minor Default or Major Default, in accordance with clause 22 of this Agreement;
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
any notice served on the Mutual by the Council notifying the Mutual of either a Minor Default or Major Default, in accordance with clause 22 of this Agreement;.
Relevant Circumstances
- When a customer formally notifies a supplier of a breach
- If a default notice triggers remediation and escalation rights
- Where the type of default (minor or major) determines next steps