Common use of Termination Upon Breach Clause in Contracts

Termination Upon Breach. Upon material breach or default of any of the terms and conditions of this Agreement, the defaulting Party shall be given notice of such default in writing and a period of sixty (60) days after receipt of such notice to correct the breach or default. If (a) the default or breach (i) is material to this Agreement taken as a whole, and (ii) is not corrected within said sixty (60) day period and the defaulting Party has not taken reasonable steps to cure the same, and (b) the Party not in default has fully complied with all of its obligations under this Agreement and (c) the Party not in default has no adequate remedy from monetary changes, the Party not in default shall have the right to terminate this Agreement. In the event that this Agreement is terminated due to a breach by CUTS, Sections 3.1 and 3.3 of this Agreement shall survive such termination.

Termination Upon Breach. Upon material breach or default of any of the terms and conditions of this Agreement, the defaulting Party shall be given notice of such default in writing and a period of sixty thirty (6030) days after receipt of such notice to correct the breach or default. If (a) the default or breach (i) is material to this Agreement taken as a whole, and (ii) is not corrected within said sixty thirty (6030) day period and the defaulting Party has not taken reasonable steps to cure the same, and (b) the Party not in default has fully complied with all of its obligations under this Agreement and (c) the Party not in default has no adequate remedy from monetary changes, the Party not in default shall have the right to terminate this Agreement. In the event that this Agreement is terminated due to a breach by CUTS, Sections 3.1 and 3.3 of this Agreement shall survive such termination.