40.3  Termination on Authority Default

(a)  If an Authority Default has occurred and the Contractor wishes to terminate this Agreement, the Contractor must serve a termination notice (the Contractor Termination Notice) on the Authority within thirty (30) Business Days of becoming aware of the Authority Default.

(b)  The Contractor Termination Notice must specify the type of Authority Default which has occurred entitling the Contractor to terminate.

(c)  This Agreement will terminate on the day falling thirty (30) Business Days after the date the Authority receives the Contractor Termination Notice, unless the Authority rectifies the Authority Default within twenty (20) Business Days of receipt of the Contractor Termination Notice.