Common use of Default; Cure Clause in Contracts

Default; Cure. Default consists of a breach of a material provision of this Agreement, whether by action or inaction of a Party, other than failure of any Party to make contributions for a roundabout as required by this Agreement, that continues and is not remedied within 60 days after the other Party another Party has given written notice specifying the breach—provided that, if the nonbreaching Party determines that such breach cannot with due diligence be cured within a period of 60 days—the nonbreaching Party may allow the breaching Party a longer period of time to cure the breach and, in such event, the breach shall not constitute a default so long as the breaching Party diligently proceeds to effect a cure, and the cure is accomplished within the longer period of time granted by the nonbreaching Party. a. If a Party fails to make contributions as required by this Agreement for a roundabout for which it is obligated to make payment, the City may take any of the following actions: seek repayment from any nonpaying Party for services already performed or expenses incurred, and any other remedy legally available, including a suit for damages or specific performance.