Common use of ADDITIONAL TIME TO CURE BREACHES Clause in Contracts

ADDITIONAL TIME TO CURE BREACHES. To the extent that a breach is not cured by the breaching party within the specified time as provided herein, such time period shall be deemed extended automatically for a reasonable time (i) if the breach is reasonably subject to being cured within a reasonable time, (ii) the breaching party is diligently and vigorously in good faith pursuing a reasonable cure, and (iii) the non-breaching party is not being materially damaged or subjected to unreasonable risk as a result of this extension. This automatic extension shall terminate in the event that it becomes clear that the breach cannot be cured within a reasonable time or if the breaching party ceases to perform as set forth in (ii) above.