Common use of Nonmonetary Default Clause in Contracts

Nonmonetary Default. Upon any material non-monetary breach of this Agreement by Licensee (i.e., not involving the payment by Licensee of any amounts required to be paid under this Agreement), The Regents, in addition to any other remedy available at law or equity, shall have the right to provide a Notice of Default to Licensee of such material non-monetary breach. In the event such material non-monetary breach has not been cured by Licensee within [**] days (the “Notice Period”) after receipt of such notice provided that the Parties have worked together in good faith to try to cure such breach, then, The Regents will have the right to immediately terminate this Agreement by providing a written Notice of Termination to the Licensee, provided, however, that the stated period will be extended an additional [**] days (“Notice Extension Period”) during which the Parties will work together in good faith to try to cure such breach if all of the following criteria are satisfied: (i) such breach is not susceptible of cure within the stated initial [**] day Notice Period as evidenced by written tangible records; (ii) Licensee has submitted a cure plan that is reasonably acceptable to The Regents; and (iii) Licensee uses diligent, good faith efforts to cure such breach. If such breach is not cured during such [**] day extension, The Regents will have the right to immediately terminate this Agreement by providing a written Notice of Termination to the Licensee. For the avoidance of doubt, non-monetary breach includes failure of Licensee to: (i) perform obligations described in Sections 8.1 - 8.5; and (ii) submit reports in accordance with Article 9 (Progress Reports).