Common use of Obligation Failure Clause in Contracts

Obligation Failure. Buyer fails to perform any obligation hereunder, such failure is material, such failure is not excused by the provisions of Section 6.3 (regarding Force Majeure Events), and such failure is not cured within: (A) ten (10) days if the failure involves a failure to maintain required insurance; or (B) thirty (30) days if the failure involves an obligation other than payment or the maintenance of insurance, after receipt of notice from Owner identifying the failure.

Obligation Failure. Buyer Owner fails to perform any obligation hereunder, such failure is material, such failure is not excused by the provisions of Section 6.3 (regarding Force Majeure Events), and such failure is not cured within: (A) ten (10) days if the failure involves a failure to make payment when due or maintain required insurance; or (B) thirty (30) days if the failure involves an obligation other than payment or the maintenance of insurance, after receipt of notice from Owner Buyer identifying the failure.