Default Damages. In the event that either party defaults in any of its obligations under this Agreement and such default continues for a period of thirty (30) days following written notice from the Non-Defaulting Party, then, in addition to any other remedies provided pursuant to this Agreement or applicable Requirements of Law, including without limitation termination of the Agreement, the Non-Defaulting Party shall be entitled to recover from the Defaulting Party the actual damages which the Non-Defaulting Party may incur on account of such breach; provided, that, in lieu of actual damages Elan shall be entitled to recover liquidated damages in the circumstances described in Section VIII.C.
Appears in 2 contracts
Sources: Joint Marketing Agreement, Joint Marketing Agreement (Columbia Bancorp \Or\)