Common use of Notification of Default and Cure Plan Clause in Contracts

Notification of Default and Cure Plan. If a default occurs, the party not in default may, in addition to any other remedies it has, give the defaulting party a Default Notice by indicating that it requires the defaulting party to provide to it a written Cure Plan which specifies the reason the default occurred, how the defaulting party intends to remedy the default and the time that the defaulting party will require to remedy the default including additional information on such matters as the party not in default requires. A reasonable time shall be set by which the defaulting party must provide the Cure Plan. All parties shall agree on the Cure Plan and if no agreement can be reached, the parties shall refer the matter to the Regulatory Board for a resolution.

Notification of Default and Cure Plan. If a default occurs, the party not in default may, in addition to any other remedies it has, give the defaulting party a Default Notice by indicating that it requires the defaulting party to provide to it a written Cure Plan which specifies specifies the reason the default occurred, how the defaulting party intends to remedy the default and the time that the defaulting party will require to remedy the default including additional information on such matters as the party not in default requires. A reasonable time shall be set by which the defaulting party must provide the Cure Plan. All parties shall agree on the Cure Plan and if no agreement can be reached, the parties shall refer the matter to the Regulatory Board for a resolution.resolu- tion

Notification of Default and Cure Plan. If a default occurs, the party not in default may, in addition to any other remedies it has, give the defaulting party a Default Notice by indicating that it requires the defaulting party to provide to it a written Cure Plan which specifies specifies the reason the default occurred, how the defaulting party intends to remedy the default and the time that the defaulting party will require to remedy the default including additional information on such matters as the party not in default requires. A reasonable time shall be set by which the defaulting party must provide the Cure Plan. All parties Both par- ties shall agree on the Cure Plan and if no agreement Agreement can be reached, the parties shall refer the matter to the Regulatory Board for a resolution.