16.3  Termination for Default

(a)  If the Proponent (or any Member) commits a Default, which Default remains unremedied 10 Business Days after receipt of notice by the Proponent from the Project Owner requiring the Default to be remedied to the Project Owner's reasonable satisfaction, the Project Owner may terminate this Agreement by serving a notice under this clause 16.3 which notice specifies the Default (Termination Notice).

(b)  A Default by any Member is deemed to be a Default by the Proponent.

(c)  Where the Project Owner has terminated this Agreement under this clause 16.3, the Parties will have the same rights, remedies and liabilities as if the Proponent repudiated this Agreement and the Project Owner elected to treat this Agreement to be at an end and recover damages.