45.2 On the occurrence of a Board Event of Default, or within a reasonable time after Project Co becomes aware of the same, and while the same is still subsisting, Project Co may, at its option:
(a) in respect of execution of the Works prior to the Actual Completion Date, suspend performance by it of its obligations under this Agreement until such time as the Board shall have demonstrated to the reasonable satisfaction of Project Co that it will perform and is capable of performing its obligations under this Agreement; or
(b) serve notice on the Board and to the Director of Performance Management and Finance, Scottish Government Health Directorates(or such other party as may be notified in advance in writing by the Board to Project Co) of the occurrence (and specifying details) of such Board Event of Default. If the relevant matter or circumstance has not been rectified or remedied by the Board (or otherwise) in respect of Clauses 45.1(a) or 45.1(c) within sixty (60) Business Days of such notice, and in respect of Clause 45.1(b) within thirty (30) Business Days of such notice, Project Co may serve a further notice on the Board and to the Director of Performance Management and Finance, Scottish Government Health Directorates (or its substitute notified in accordance with this Clause 45.2(b)) terminating this Agreement with immediate effect.
45.3 Project Co shall not exercise or purport to exercise any right to terminate this Agreement (or accept any repudiation of this Agreement) except as expressly set out in this Agreement.