Common use of Breaches and Defaults; Opportunity to Cure Clause in Contracts

Breaches and Defaults; Opportunity to Cure. Prior to the exercise by a party of any termination rights afforded under Section 11.2(b)(i) or Section 11.2(c)(i) of this Agreement, if any party (the “Non-Breaching Party”) believes any other party (the “Breaching Party”) to be in breach hereunder, the Non-Breaching Party shall provide the Breaching Party with written notice specifying in reasonable detail the nature of such breach, whereupon if such breach is curable the Breaching Party shall have five (5) calendar days from the receipt of such notice to cure such breach to the reasonable satisfaction of the Non-Breaching Party. If the breach is not cured within such time period, then the Non-Breaching Party’s sole remedy shall be to terminate this Agreement if the breach is such that the condition set forth in Section 9.1 or Section 10.1, as applicable, shall not be satisfied (as provided in Section 11.2); provided, however, that the Non-Breaching Party shall not be entitled to terminate this Agreement if it is in material breach of this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (PARETEUM Corp)

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Breaches and Defaults; Opportunity to Cure. Prior to the exercise by a party of any termination rights afforded under Section 11.2(b)(i) or Section 11.2(c)(i) of this Agreement, if any either party (the “Non-Breaching Party”) believes any the other party (the “Breaching Party”) to be in breach hereunder, the Non-Breaching Party shall provide the Breaching Party with written notice specifying in reasonable detail the nature of such breach, whereupon if such breach is curable the Breaching Party shall have five (5) 10 calendar days from the receipt of such notice to cure such breach to the reasonable satisfaction of the Non-Breaching Party. If the breach is not cured within such time period, then the Non-Breaching Party’s sole remedy shall be to terminate this Agreement if the breach is such that the condition set forth in Section 9.1 or Section 10.1, as applicable, shall not be satisfied (as provided in Section 11.2); provided, however, that the Non-Breaching Party shall not be entitled to terminate this Agreement if it is in material breach of this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Enjoy Technology, Inc./De)

Breaches and Defaults; Opportunity to Cure. Prior to the exercise by a party of any termination rights afforded under Section 11.2(b)(i16.2(c) or Section 11.2(c)(i16.2(d) of this Agreement, other than a termination for breach of Section 10.11, if either (i) Cingular or any party AWS Party, on the one hand, or (ii) any Triton Party, on the other hand (the “Non-Breaching Party”) ), believes any the other party (the “Breaching Party”) to be in breach hereunder, the Non-Breaching Party shall provide the Breaching Party with written notice specifying in reasonable detail the nature of such breach, whereupon if such breach is curable curable, the Breaching Party shall have five thirty (530) calendar days from the receipt of such notice to cure such breach to the reasonable satisfaction of the Non-Breaching Party; provided, however, that the cure period for a breach shall in no event extend beyond the Outside Date. If the breach is not cured within such time period, then the Non-Breaching Party’s sole remedy Party shall be to terminate this Agreement if the breach is such that the condition set forth in Section 9.1 or Section 10.1, as applicable, shall not be satisfied (as provided in Section 11.2); provided, however, that default hereunder and the Non-Breaching Party shall not be entitled to terminate this Agreement if it is (as provided in material breach Section 16.2). This right of termination shall be in addition to, and not in lieu of, any rights of the Non-Breaching Party under ARTICLE 14 of this Agreement.

Appears in 1 contract

Samples: Exchange Agreement (Triton PCS Holdings Inc)

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Breaches and Defaults; Opportunity to Cure. Prior to the exercise by a party of any termination rights afforded under Section 11.2(b)(i) or Section 11.2(c)(i) of this Agreement, if any either party (the “Non-Breaching Party”) believes any the other party (the “Breaching Party”) to be in breach hereunder, the Non-Breaching Party shall provide the Breaching Party with written notice specifying in reasonable detail the nature of such breach, whereupon if such breach is curable the Breaching Party shall have five twenty (520) calendar days from the receipt of such notice to cure such breach to the reasonable satisfaction of the Non-Breaching Party; provided, however, that the cure period for a breach shall in no event extend beyond the Outside Date (as defined in Section 15.02(g)). If the breach is not cured within such time period, then the Non-Breaching Party’s sole remedy Party shall be entitled to terminate this Agreement if the breach is such that the condition conditions set forth in Section 9.1 10.01 or Section 10.111.01, as applicable, shall not be satisfied (as provided in Section 11.215.02); provided. This right of termination shall be in addition to, howeverand not in lieu of, that any rights of the Non-Breaching Party shall not be entitled to terminate this Agreement if it is in material breach under Article XIII of this Agreement.

Appears in 1 contract

Samples: Asset Purchase Agreement (Media Sciences International Inc)

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