Election to Continue. In the event of a default and the lapse of any applicable cure period, the non-defaulting party may agree to continue the Agreement rather than terminating it. To do so, that party shall send a notice to the defaulting party specifying the conditions under which the non-defaulting party will agree to continue the Agreement. By agreeing to continue the Agreement in this manner, the non-defaulting party does not waive its right to later terminate the Agreement for default based on the event of default that is the subject of the notice.
Appears in 3 contracts
Sources: Exclusive Manufacturing Agreement, Manufacturing Agreement (Natural Alternatives International Inc), Exclusive Manufacturing Agreement (Natural Alternatives International Inc)