Common use of Cure and Default Clause in Contracts

Cure and Default. Except for breaches set forth in Sections 11.1.3, 11.1.4, and 11.1.5 above, upon a Party's breach of its obligations under this Agreement, the other Party ("Non-Breaching Party") shall give the Party in breach ("Breaching Party") a written notice describing such breach in reasonable detail, including the nature of the breach and, where known and applicable, the steps necessary to cure such breach, and demanding that the Breaching Party cure such breach. The Breaching Party shall be deemed to be in "Default" of its obligations under this Agreement if: (1) it fails to cure its breach within thirty (30) days after its receipt of such notice, or (2) where the breach is such that it cannot be cured within such thirty-day period, the Breaching Party does not commence in good faith all such steps as are reasonable and appropriate to cure such breach within such thirty-day period and thereafter diligently pursue such action to completion. Breaches set forth in Sections 11.1.3 and 11.1.4, above shall become a "Default" upon the expiration of the time period set forth in such section. Breaches set forth in Section 11.1.5 above shall become a "Default" immediately upon the occurrence of the breach.

Cure and Default. Except for breaches set forth in Sections 11.1.3, 11.1.4, and 11.1.5 above, upon (a) With respect to a Party's breach under Section 10.1.2(a) of its obligations under this Agreement, the Party in breach (the "Breaching Party") shall be in default of this Agreement if it fails to cure such non-payment within three (3) Business Days after receipt of a written demand for payment from the other Party (the "Non-Breaching Party"). (b) shall give the Party in With respect to a Party's breach ("Breaching Party"under Section 10.1.2(b) a written notice describing such breach in reasonable detail, including the nature of the breach and, where known and applicablethis Agreement, the steps necessary to cure such breach, and demanding that the Breaching Party cure such breach. The Breaching Party shall be deemed to be in "Default" default of its obligations under this Agreement if: (1i) if it fails to cure its breach within thirty (30) days after its receipt of written notice of such noticebreach from the Non-Breaching Party providing reasonable detail of such breach, or (2ii) where if the breach is such that it cannot be cured within such thirty-day periodthirty (30) days, the Breaching Party does not commence in good faith commence within thirty (30) days all such steps as are commercially reasonable efforts that are necessary and appropriate to cure such breach within such thirty-day period and thereafter diligently pursue such action steps to completion. Breaches set forth in Sections 11.1.3 and 11.1.4, above shall become a "Default" upon . (c) With respect to the expiration of the time period set forth in such section. Breaches set forth events described in Section 11.1.5 above 10.1.2(c), (d) or (e), the Breaching Party shall become a "Default" be in default of this Agreement immediately upon the occurrence of any such events. (d) With respect to a Party's breach under Section 10.1.2(f) of this Agreement, the breachBreaching Party shall be in default if it fails to cure such breach within three (3) Business Days after receipt of a written demand for Performance Assurance.