Avoidance of Material Default Clause Samples

Avoidance of Material Default. SJCC can prevent any of the Material Default Conditions from becoming a Material Default by any one or more of the following actions: (1) SJCC proceeds with due diligence to cure the alleged Material Default Condition(s) within thirty (30) days of receipt of the notice of Material Default Condition(s); (2) BHP Minerals International Inc. proceeds with due diligence to cure the alleged default within thirty (30) days of receipt of the notice of Material Default Condition(s); (3) SJCC declares prevention of performance by reason of uncontrollable forces pursuant to Paragraph 17.1 "Uncontrollable Forces," and that declaration is not subsequently invalidated by arbitration; (4) SJCC gives notice of Non-Normal Conditions and operates according to a Cure Plan approved by the Joint Committee; or (5) SJCC disputes the existence of Material Default Condition(s), and there is a final resolution pursuant to Paragraph 14 "Arbitration" of this Agreement that SJCC was not in Material Default hereunder.