Default; Notice and Cure Clause Samples

Default; Notice and Cure. No Party shall be in default of (or breach under) this Agreement unless it fails to perform in any material respects any of its obligations hereunder and such failure continues for a period of at least thirty (30) days after the delivery of written notice thereof by the other Party. Nothing herein shall limit any party’s rights and remedies under the Contribution Agreement, Founder’s Rights Agreement and/or Program Documents. All such rights and remedies shall be cumulative.

Default; Notice and Cure. In the event that either party is in default of any terms of this Agreement, the non-defaulting party shall give the defaulting party written notice of the default specifying the details of the default. The defaulting party shall have 15 days from receipt of such notice to remedy the default or give written notice to the non-defaulting party setting forth reasons why it believes it is not in default.

Default; Notice and Cure. Time is of the essence of this Agreement. If either Party defaults under this Purchase Agreement, then the other Party shall notify the defaulting Party in writing of the default and specify the requirements to correct the default. The defaulting Party shall have ten (10) days from the date of delivery of the notice to correct the default. If the default is not corrected in that time, the defaulting Party shall be in breach of this Purchase Agreement.

Default; Notice and Cure. Upon a Party’s breach or default of any provision of this MOU, the non-defaulting Party will provide written notice to the defaulting Party of the breach or default (“Default Notice”). Upon receipt of the Default Notice, the defaulting Party will have 30 calendar days to cure the breach or default described in the Default Notice and to provide evidence of that cure to the non- defaulting Party. If the breach or default is not capable of cure within the 30 calendar day period, then no breach or default can be deemed to have occurred by reason of the failure to cure so long as the defaulting Party promptly begins and diligently and continuously performs the cure to completion within a reasonable time period, not to exceed 90 calendar days from commencement of the cure (“Cure Period”). If the defaulting Party does not provide evidence of the cure to the non-defaulting Party within the Cure Period, then the defaulting Party will be deemed to have committed an “Event of Default,” and the non-defaulting Party will have the right, but not the obligation, to pursue its rights with respect to resolution of disputes under section 11 of this MOU. The Parties may at any time mutually agree to commence the dispute resolution procedures in section 11 of this MOU before the end of the Cure Period.

Default; Notice and Cure. A default by Company shall occur if any of the following occur and if the default shall continue and not be remedied within thirty (30) days after the City shall give notice specifying the breach, which notice shall be within ten (10) days of the breach, delinquency or failure to pay rent. If the non-compliance cannot reasonably be cured within the thirty (30) days, Company will not be in default if it starts taking action to cure the breach within ten (10) days of receipt of the notice and continues to diligently act until the breach is cured. A. Delinquency or failure to pay rent or any required payments under this lease in the amounts or at the times specified. All rent and other sums due from Company shall bear interest at the legal rate for judgments in Oregon as of the date due. Company shall also pay the City a penalty of $275 in addition to the rent or required payment and interest if it fails to make a payment when due. B. Failure of Company to comply with any term or condition of the lease. C. Failure of Company to use the premises for the purposes authorized under the lease. D. Vacation or abandonment of the premises without written approval of the City. E. Company maintaining a nuisance on the premises. F. Insolvency of Company; an assignment by Company for the benefit of creditors; the filing by Company of a voluntary petition in bankruptcy; an adjudication that Company is bankrupt or the appointment of a receiver of the properties of Company; the filing of any involuntary petition of bankruptcy and the failure of Company to secure a dismissal of the petition within thirty (30) days after filing; attachment of or the levying of execution on the leasehold interest and failure of Company to secure discharge of the attachment or release of the levy of execution within ten (10) days. G. Failure by Company to remove any lien or encumbrance placed upon the premises.

Default; Notice and Cure. If either party hereto shall default in the performance of any of its obligations under this Agreement, or if any representation or warranty made by either party hereto shall be untrue or shall be breached in any material way, and if within ten (1 0) days following notice from the other party of such default, misrepresentation or breach, the party fails to pay such monies, or in the case of non-monetary defaults, fails to commence substantial efforts to cure such default, misrepresentation or breach or thereafter fails within a reasonable time to prosecute such cure to completion with diligence and continuity; then the party who delivered the notice of such default shall have, in addition to its rights at law or in equity, the right to terminate this Agreement and all rights granted hereunder.

Default; Notice and Cure. If either party hereto shall default in the performance of any of its obligations under this Agreement and such default is a result of that party’s gross negligence, gross abuse of authority, fraud or criminal misconduct, and such default is not cured within 40 days after written notice from the non-defaulting party then the party who delivered the notice of such default shall have, in addition to its rights at law or in equity, the right to terminate this Agreement.