Curing Defaults. Any default by Manager under clause Section 7.1.a. or Owner under Section 7.2.a., as the case may be, which is susceptible of being cured, shall not constitute a basis of termination if the nature of such default shall not permit it to be cured within the 30-day period specified in such section (and such additional grace period that may be allotted by the other party); provided that promptly after being notified in writing of the default the defaulting party shall have commenced to cure such default and shall proceed to complete the same with reasonable diligence.
Appears in 2 contracts
Sources: Membership Interest Purchase Agreement (Stewards, Inc.), Membership Interest Purchase Agreement (Favo Capital, Inc.)
Curing Defaults. Any default by Manager under clause Section 7.1.a. or Owner under Section 7.2.a., as the case may be, which is susceptible of being cured, shall not constitute a basis of termination if the nature of such default shall not permit it to be cured within the 30-day period specified in such section (and such additional grace period that may be allotted by the other party); provided that promptly after being notified in writing of the ofthe default the defaulting party shall have commenced to cure such default and shall proceed to complete the same with reasonable diligence.
Appears in 2 contracts
Sources: Membership Interest Purchase Agreement (Stewards, Inc.), Membership Interest Purchase Agreement (Favo Capital, Inc.)