Failure to Pay Amounts Owed. If Licensee or any of its Affiliates fails to pay any amounts due under this Agreement to Licensor or any of its Affiliates in whole or in part and when such payment becomes due and payable (“Payment Default”), then Licensor may issue a notice of breach to Licensee with respect to such Payment Default. Licensee shall have twenty (20) Business Days following notice of breach to cure the failure to pay.
Appears in 4 contracts
Samples: Master License Agreement (Yum Brands Inc), Master License Agreement (Yum China Holdings, Inc.), Master License Agreement (Yum China Holdings, Inc.)
