Common use of Company Default Clause in Contracts

Company Default. Company’s failure to pay when due any payment required to be made by Company as described in this Agreement or Company’s failure to keep or perform any one or more of the terms, conditions, or covenants of this Agreement, which failure continues for five (5) days or more after written notice from Contractor (unless such failure requires work to be performed, acts to be done or conditions to be removed, which by their nature cannot reasonably be performed, done or removed, as the case may be, within such five (5) day period, in which case no Event of Default shall be deemed to have occurred so long as Company shall have commenced curing the same within said five (5) day period and shall diligently and continuously prosecute the same to completion and shall further provide Contractor with bi-weekly written reports of the status of such cure).

Company Default. Company’s 's failure to pay when due any payment required to be made by Company as described in this Agreement or Company’s 's failure to keep or perform any one or more of the terms, conditions, or covenants of this Agreement, which failure continues for five (5) days or more after written notice from Contractor (unless such failure requires work to be performed, acts to be done or conditions to be removed, which by their nature cannot reasonably be performed, done or removed, as the case may be, within such five (5) day period, in which case no Event of Default shall be deemed to have occurred so long as Company shall have commenced curing the same within said five (5) day period and shall diligently and continuously prosecute the same to completion and shall further provide Contractor with bi-weekly written reports of the status of such cure).