Hi all,
I am party to a contract and I want to work out how a reasonable person would interpret the clauses below.
The termination notice was issued on 31 October 2008. On what date does the termination amount increase?
Website Terms and Conditions:
It states: From the date of issue of the termination notice, there is a 28 day period in which to pay the termination amount. If the initial 28 day period elapses and the termination amount is not paid, there is a second 28 day period where the termination amount increases by 50%.
The Contract:
You may during the period of 28 days, beginning on the date of the termination notice, pay the termination amount. If you do not pay the termination amount during that period, you may, beginning on the expiration of that period, during the further period of 28 days, pay an increased termination amount of [x]......
Thanks for your help on this.