Common use of Material Breaches Clause in Contracts

Material Breaches. Either Party may terminate this Agreement before the normal expiration hereof in the event of a material breach by the other Party. In order to terminate for material breach, the non-breaching Party must give the breaching Party written notice identifying the purported breach in reasonable detail and requesting that the breach be cured (the “Cure Notice”). If the breaching Party fails to cure the breach within thirty (30) days of receipt of the Cure Notice, the other Party shall have the right to terminate this Agreement, effective upon seven (7) days prior written notice to the breaching Party (the “Terminating Notice”); provided, however that if such breach cannot reasonably be cured within thirty (30) days of receipt of the Cure Notice, the same shall not constitute a failure to cure hereunder if, prior to the delivery of the Terminating Notice to the breaching Party, the Parties mutually agree upon a written plan to cure the breach and the breaching Party continues to perform in accordance with the written plan of cure.