What form must a notice of default take according to the Agreement's requirements?

The requirements outlined in the Agreement specify that a notice of default must be documented in writing. This ensures that there is a formal record of the communication, providing clarity and accountability for both parties involved. Written documentation serves several purposes: it minimizes misunderstandings, establishes a clear timeline of events, and provides legal protection, should disputes arise later.

While verbal notifications could lead to ambiguity and differences in recollection, and electronic submissions may not always meet the formality expected in such legal communications, having a written notice is standard practice in legal agreements. This practice affirms that all parties have received and acknowledged the information concerning defaults, which is vital for proceeding with any further actions that may be stipulated in the Agreement.