Cure Provision. An Event of Default under this Agreement shall not occur as the result of failure of the Borrower to comply with a financial covenant contained in this Article VIII, if, within fifteen (15) calendar days after the Borrower discovers non-compliance,
Cure Provision. No Parent Party, on the one hand, nor the Company, on the other hand, may elect to not complete the transactions contemplated hereby as the result of the failure of any condition set forth in Section 8.1, Section 8.2 or Section 8.3 or terminate this Agreement pursuant to Section 9.1(c)(ii) or Section 9.1(d)(iii), and no payments shall be payable as a result of any such termination pursuant to Section 9.2, unless the Party intending to rely thereon has delivered a written notice to the other Party specifying in reasonable detail all breaches of covenants, inaccuracies of representations and warranties or other matters which the Party delivering such notice is asserting as the basis for the non-fulfillment of the applicable condition or the availability of a termination right, as the case may be. If any such notice is delivered with respect to a matter that is capable of being cured, provided that a Party is proceeding diligently to cure such matter, no Party may terminate this Agreement unless such matter remains uncured as of the earlier of (i) the tenth (10th) Business Day following the date of receipt of such notice; and (ii) the Outside Date. If such notice has been delivered by the Company prior to the date of the Company Meeting, the Company may elect to postpone the Company Meeting until the expiry of such period (without causing a breach of any other provisions contained herein).
Cure Provision. If any default, other than a default in payment is curable and if Grantor has not been given a notice of a breach of the same provision of this Agreement within the preceding twelve (12) months, it may be cured if Grantor, after receiving written notice from Lender demanding cure of such default: (1) cures the default within ten (10) days; or (2) if the cure requires more than ten (10) days, immediately initiates steps which Lender deems in Lender’s sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
Cure Provision. As a condition precedent to any assertion that the Owner or Administrator is in default in performing any obligation under this Agreement or is in breach of any provision under this Agreement, either party shall advise the other thereof in detail and in writing, and the party receiving such notice shall be allowed a period of thirty (30) days after receipt of such written notice within which to cure such alleged default or breach. Notwithstanding any contrary provisions elsewhere in this Agreement, but subject to the above paragraph set out in this paragraph 12.16, if the Administrator commits a material breach of this Agreement, fails to account or render payments as required pursuant to section 5.01, and such failure continues beyond the thirty (30) day cure period set forth in this Section 12.16, then Owner shall thereupon have the right to terminate the term of this Agreement by written instrument to the Administrator.
Cure Provision. The infringing party will have 30 days to cure or resolve a problem before mediation or legal action can be taken.
Cure Provision. You and we intend for both of us to have the right to arbitrate disputes on an individual basis as set forth above. In the event that a court finds any reason to invalidate or refuse to enforce this Arbitration Agreement, the party aggrieved by that decision shall have the right to take unilateral action to eliminate the basis for the court’s decision, such as by waiving any right or remedy it has under this Agreement or agreeing to additional fee or cost shifting. This cure right may be exercised during briefing of a motion to compel arbitration, during oral argument, or in a renewed motion to compel arbitration. If a renewed motion is filed, you and we agree that the exercise of cure rights hereunder shall constitute new facts permitting such a renewed motion.
Cure Provision. In the event of an Indemnified Termination Event, CIK shall be entitled, for a period of ninety (90) days following the occurrence of such event, to re-establish, or cause to be re-established, Traffix’s rights under the License and the M&S Agreement. In the event that CIK is able to re-establish Traffix’s rights under the License and M&S Agreement within such ninety (90) day period, CIK shall be relieved of the obligation to make the CIK Guarantee Payment with respect to such Indemnified Termination Event and the Escrow Agent shall not be required to make any payment to Traffix on account of the CIK Guarantee Payment, and the M&S Agreement as amended by this Memorandum of Agreement shall remain in full force and effect subject to payment of any Damage Payment by CIK. Notwithstanding the foregoing, in the event that the occurrence of the Indemnified Termination Event results in an interruption of Traffix’s use of the License, CIK shall be responsible for payment to Traffix any costs, expenses, losses or damages (including, but not limited to lost profits) suffered by Traffix as a direct consequence of such interruption (collectively referred to as the “Damage Payment”) provided that CIK’s liability for such costs, expenses, losses or damages shall not, in any event, be greater that the amount of the CIK Guarantee Payment obligation at the time of such interruption in accordance with Section 4 or Section 5 hereof, as the case may be. In the event that the foregoing Indemnified Termination Event shall remain uncured for a period of ninety-one (91) days, CIK’s breach of its Guarantee shall be considered incurable and the CIK Guarantee Payment, as set forth above, shall become immediately due and payable, in accordance with the terms hereof and any obligation of Traffix to pay the Additional Consideration as more fully described in Section 3 hereof shall terminate.
Cure Provision. Provided that the following shall not apply to any default of Guarantor arising under Sections 8.1(g), (h) or (i) of the Credit Agreement, a default hereunder may be cured if Guarantor delivers to the Administrative Agent (for the benefit of Lenders) within ten (10) days of such default, cash collateral (to be deposited with the Administrative Agent and subject to a first priority security interest in favor of the Administrative Agent) and/or letters of credit (in form and substance satisfactory to the Administrative Agent), to collateralize this Guarantee Agreement in an amount equal to Guarantor’s Obligations.
Cure Provision. In reference to Termination for Default, the Commonwealth shall notify the contractor in writing at least 30 days prior to the proposed termination date of the default. Such written notice shall specifically state the reason of the intention to terminate. The contractor shall have 30 days in which to cure the default, unless such cure period is extended by agreement of the parties. If the default is not cured to the satisfaction of the Commonwealth within the 30 day cure period or any extension thereof, the contract shall be considered terminated at close of business on the 30th day or any agreed upon extension.
Cure Provision. If any default, other than a default in payment is curable and if Borrower has not been given notice of a breach of the same provision of this Note within the preceding twelve (12) months, it may be cured if Borrower, after receiving written notice from Lender demanding cure of such default: (1) cures the default within twenty (20) days; or (2) if the cure requires more than twenty (20) days, immediately initiates steps which Lender deems in Lender’s sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical.
